Bengaluru's luxury property market is undergoing a significant transformation, moving away from its traditional association with tech parks and practical housing. The city is now witnessing a steady rise in ultra-premium residential deals, including large penthouses, boutique towers, and 'villa-in-the-sky' homes that are increasingly attracting India's wealthy business families and startup elite.
According to industry reports, the latest high-profile transaction involves Tariq Premji, the younger son of Azim Premji. Tariq has reportedly purchased a luxury duplex penthouse in central Bengaluru for Rs 45.71 crore. Industry experts suggest that demand for spacious, high-end homes in prime locations has been growing consistently over the last two years.
Property registration documents accessed through Zapkey reveal that the penthouse is located in 27 Summit, an upscale residential development in Sampangiram Nagar, close to Bengaluru's central business district. The duplex residence spans around 7,065 square feet of carpet area and occupies the 25th and 26th floors of the tower. Reports suggest the property also includes 11 car parking spaces, highlighting the scale and exclusivity of the project. The seller in the transaction was Nestled Haven Developers LLP, which is part of the luxury real estate firm MAIA Estates. Tariq Premji currently serves as a non-executive director at Wipro Enterprises and is also vice-president of the Azim Premji Endowment Fund.
Why Bengaluru is Becoming a Hotspot for Ultra-Luxury Property Deals
For a long time, Mumbai and Gurugram dominated conversations around India's ultra-luxury real estate segment. Bengaluru, despite being home to several billionaires and top technology executives, remained comparatively restrained in terms of high-ticket residential transactions. Property experts say affluent buyers are increasingly looking for larger homes that combine privacy, exclusivity, and premium design. Luxury towers with limited residences and expansive layouts are seeing stronger demand, particularly in central parts of Bengaluru.
Sandeep Reddy, co-founder of Zapkey, reportedly described the purchase as one of the city's biggest residential transactions this year. He also noted that 27 Summit has steadily established itself as a landmark address within Bengaluru's ultra-luxury housing market. According to reports, another penthouse in the same project was sold last year in 2025 for Rs 54.38 crore to the CEO of a UK-based financial services company.
From Tariq Premji to Ajit Isaac: How Bengaluru's Luxury Housing Market is Booming
Tariq Premji's penthouse purchase is part of a broader trend emerging across Bengaluru's premium real estate market. Last year, designer Shruti Pai reportedly bought a luxury duplex residence in Bengaluru for around Rs 64 crore. The property measured approximately 12,800 square feet and became one of the city's most expensive residential transactions at the time. In another major deal, Ajit Isaac purchased a prime residential property in Koramangala worth Rs 67.5 crore in 2024.
Bengaluru Luxury Housing Market Crosses Rs 1,000 Crore in Annual Sales
According to a 2025 report by India Sotheby's International Realty and IBEF, Bengaluru's luxury housing segment priced above Rs 10 crore crossed Rs 1,000 crore in annual sales for the first time during 2024-25. The report highlighted strong demand for apartments ranging between 5,000 and 7,000 square feet. Buyers, especially wealthy locals and non-resident Indians, reportedly prefer homes that offer privacy, skyline views, private lifts, and low-density living.
Disclaimer: The information shared above is gathered from publicly available online sources and reports. The Times of India has not independently verified the property transaction details, pricing, or statements mentioned.
