Year-ender 2025: From penthouses to prime land, ultra-wealthy buyers drive Bengaluru’s luxury property market

Bengaluru real estate market witnesses luxury deals and rising rents as ultra-wealthy buyers and IT growth drive housing demand

Bengaluru’s luxury housing market saw a marked shift in 2025, with several big-ticket, high-profile property deals being concluded across the city. From premium land parcels in the central business district to high-end penthouses and duplex apartments, rising demand from ultra-wealthy buyers underscored Bengaluru’s emergence as a key market for luxury homes, experts said.

Bengaluru’s luxury housing market saw a surge in big-ticket deals in 2025, as ultra-wealthy buyers drove demand for prime land, penthouses and duplex homes, experts said. (Photo for representational purposes only)(Pixabay)

In one of the year’s standout deals, Manipal Group chairman Ranjan Pai, through his investment arm Esencia Partners, acquired a prime property on Lavelle Road in the upscale Shantala Nagar area for ₹165.6 crore. The 25,824 sq ft parcel, earlier owned by Australian national Mira Angeline Cummins, comprised two existing buildings of about 3,339.9 sq ft each. Located close to UB City and Cubbon Park, and near Vittal Mallya Road, the site is among the few remaining high-value land parcels in Bengaluru’s central business district. The transaction underlined the premium commanded by CBD assets, driven by scarcity, prestige, and long-term redevelopment potential.

Penthouse sold for ₹54.38 crore

In one of the most expensive apartment deals in the city, Paresh Raja, CEO of UK-based Market Financial Solutions, purchased a luxury penthouse at MAIA Estates’ 27 Summit project in Sampangiram Nagar for ₹54.38 crore, as per documents accessed by Zapkey. The duplex penthouse spanned 7,065 sq ft of carpet area across the 25th and 26th floors, with a super built-up area of 10,629 sq ft.

The transaction was struck at a carpet area rate of about ₹77,000 per sq ft and a super built-up rate of ₹51,170 per sq ft, placing it among the highest-priced residential deals in Bengaluru. Real estate experts noted that such pricing reflects not just location in central Bengaluru, but also demand for limited-supply, branded luxury residences offering privacy, expansive layouts, and high-end amenities.

Duplex sold for ₹64 crore in Jayamahal

Another marquee transaction reinforcing this trend was the ₹64 crore purchase of a luxury duplex apartment in Jayamahal Extension by Shruti Pai, wife of Ranjan Pai, chairman of the Manipal Education and Medical Group. According to Zapkey documents, the deal was among the most expensive residential transactions recorded in the locality.

The apartment was sold at around ₹64,457 per sq ft on the carpet area and approximately ₹50,000 per sq ft on the super built-up area, making it one of the highest per-square-foot rates in Jayamahal. Experts said it highlighted a clear shift in Bengaluru’s ultra-luxury segment, where the ₹50 crore-plus bracket, once dominated by sprawling bungalows, is now seeing rising demand for premium apartments in gated, amenity-rich developments.

Is Bengaluru going the Mumbai way?

Real estate experts have noted that, unlike Mumbai, which has long been one of India’s most expensive and mature property markets, Bengaluru’s real estate sector is still in the process of evolving. The city’s market began to gain momentum in the early 2000s, fueled by the IT boom and the rapid growth of the technology and startup ecosystem. While Mumbai boasts decades of high-density development, premium housing, and established investment patterns, Bengaluru remains comparatively young, with many neighbourhoods still under development.

Real estate experts said that ultra-luxury housing demand in Bengaluru is gradually shifting away from traditionally favoured pockets like Koramangala to other central and emerging prime micro-markets, as buyers seek larger, more exclusive homes and better living environments.