Tariq Premji’s ₹45.7 Crore Bengaluru Penthouse Deal Signals Rising Demand for Ultra-Luxury Homes

Bengaluru’s luxury real estate market has witnessed another headline-making transaction, as Tariq Premji, son of Wipro founder Azim Premji, purchased an ultra-luxury duplex penthouse in the heart of the city for a staggering ₹45.71 crore. The deal is being regarded as one of the biggest residential property transactions recorded in Bengaluru this year, further highlighting the growing appetite for exclusive “villa-in-the-sky” residences among India’s ultra-rich.

According to property registration documents, the premium penthouse is located in the upscale “27 Summit” residential project in Sampangiramnagar, a centrally positioned neighbourhood close to Bengaluru’s Central Business District (CBD). The property was sold by Nestled Haven Developers LLP, an entity associated with Bengaluru-based luxury developer MAIA Estates.

A Duplex Penthouse Spread Across Two Levels

The newly acquired residence is not just another luxury apartment — it is a sprawling duplex penthouse occupying two levels of the residential tower. The home reportedly features a carpet area of approximately 7,065 square feet, while the total super built-up area extends to around 10,602 square feet.

The transaction value translates to roughly ₹43,123 per square foot based on the super built-up area, placing it firmly within Bengaluru’s elite luxury housing bracket. The deal also includes an impressive 11 covered parking spaces in the project’s basement along with a proportionate undivided share of land measuring nearly 2,952 square feet.

In recent years, Bengaluru’s high-end residential market has evolved rapidly, with affluent buyers increasingly prioritising privacy, exclusivity, spacious layouts, wellness-focused living, and premium architectural design over conventional luxury apartments. Duplex sky villas and penthouses, especially in low-density developments, are now emerging as status symbols among India’s wealthiest families.

Who is Tariq Premji?

Tariq Premji is associated with the philanthropic and business legacy of the Premji family. He currently serves as Vice President of the Azim Premji Endowment Fund and is also a non-executive director at Wipro Enterprises.

The Premji family is widely respected not only for its corporate success but also for its extensive philanthropic contributions across education, healthcare, and social development through the Azim Premji Foundation. Over the years, Azim Premji has become one of India’s most admired industrialists, known for dedicating a large portion of his wealth toward charitable initiatives.

Why 27 Summit is Becoming Bengaluru’s Luxury Address

The “27 Summit” project by MAIA Estates has steadily gained recognition as one of Bengaluru’s most prestigious residential developments. Located off Richmond Road in central Bengaluru, the project offers only 75 ultra-premium residences, ensuring exclusivity and low-density living.

The apartments in the project are designed with expansive sky decks, high ceilings, premium finishes, and curated lifestyle amenities aimed at affluent homeowners seeking privacy within the city’s urban core.

What makes the location especially attractive is its strategic connectivity. Sampangiramnagar may not traditionally be mentioned alongside Bengaluru’s most glamorous neighbourhoods like Indiranagar or Koramangala, but its proximity to major commercial and lifestyle hubs gives it immense value. Key roads such as Richmond Road, Residency Road, MG Road, and Lavelle Road are all within close reach, making the area highly desirable for business leaders and high-net-worth individuals.

Real estate experts believe central Bengaluru is witnessing renewed interest from luxury buyers who prefer established urban neighbourhoods over faraway gated townships. The convenience of being close to business districts, premium clubs, luxury hotels, fine dining destinations, and elite social infrastructure is becoming a major factor driving demand.

Bengaluru’s Ultra-Luxury Market is Changing

Industry experts say transactions of this scale reflect a broader shift in Bengaluru’s housing market. Unlike mid-segment residential demand, the ultra-luxury category appears to be operating in a league of its own.

According to market observers, wealthy buyers are increasingly willing to pay a premium for highly differentiated homes that offer features such as:

• Limited inventory and low-density living
• Large private terraces and sky decks
• Enhanced security and privacy
• Bespoke architecture and interiors
• Wellness amenities and concierge services
• Prime central locations

This growing demand has encouraged developers to create “villa-style” experiences within vertical developments, blending the privacy of independent homes with the convenience of luxury apartments.

Previous High-Value Deals at 27 Summit

Interestingly, this is not the first major transaction recorded at the 27 Summit project. Last year, Paresh Raja, CEO of UK-based Market Financial Solutions, reportedly purchased another duplex penthouse in the same development for approximately ₹54.38 crore.

That penthouse, spread across the 25th and 26th floors, featured a similar carpet area of 7,065 square feet and a super built-up area exceeding 10,600 square feet. The transaction had set new benchmarks in Bengaluru’s premium housing market at the time.

These consecutive high-ticket deals indicate that 27 Summit is quickly establishing itself as one of Bengaluru’s most exclusive residential addresses for global business leaders, entrepreneurs, and affluent investors.

Luxury Real Estate in Bengaluru is Reaching New Heights

Bengaluru has traditionally been viewed as India’s technology capital, but in recent years, it has also emerged as a major luxury real estate hotspot. The city is now witnessing increasing demand for ultra-premium homes from startup founders, CXOs, investors, global executives, and business families.

Compared to Mumbai or Delhi, Bengaluru still offers relatively larger homes and more open spaces at comparable luxury price points. This has made the city increasingly attractive for wealthy buyers looking for expansive residences with modern amenities.

Experts believe that as India’s wealth creation story continues to grow, the demand for iconic luxury residences in Bengaluru is likely to rise further, especially in centrally located neighbourhoods offering exclusivity and world-class living experiences.