Tariq Premji, son of billionaire philanthropist and Wipro founder Azim Premji, has completed a significant luxury real estate purchase in Bengaluru. According to property registration documents shared via Zapkey, the transaction involved the acquisition of a duplex penthouse at ₹45.71 crore. The deal represents one of the largest residential transactions in Bengaluru this year, as noted by Sandeep Reddy, cofounder of property data analytics platform Zapkey. 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 purchased property is located at '27 Summit', an ultra-luxury residential tower in Sampangiramnagar near the city's CBD. The duplex penthouse, identified as Penthouse B, spans the 25th and 26th floors of the tower. The property features a carpet area of 7,065 square feet and a super built-up area of 10,602 square feet. The transaction also includes 11 covered car parking spaces as part of the deal, along with a proportionate undivided share of land measuring nearly 2,952 square feet. The project has been developed by Maia Estates-backed Nestled Haven Developers, with the sale consideration translating to approximately ₹43,123 per square foot on the super built-up area.
The project has been developed by Maia Estates-backed Nestled Haven Developers. According to the property documents, the '27 Summit' 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. The project received its occupancy certificate in April 2025, indicating the property's recent completion and availability for purchase.
This transaction occurs against the backdrop of Bengaluru's rapidly escalating luxury real estate market, particularly in premium neighbourhoods like Benson Town and Millers Road. According to local brokers, flats in these localities are now selling at around ₹20,000 per sq ft, pushing typical 3BHK apartment prices to nearly ₹4.5 crore even in projects that are five to 10 years old. New 2BHK apartments in the area are currently priced at around ₹2 crore to ₹2.2 crore, while resale units typically range from ₹1.5 crore to ₹1.8 crore. The premium pricing is driven by severe land scarcity, with hardly any large land parcels remaining available for new developments. As noted by Kiran Kumar of Hanu Reddy Realty, buyers are paying primarily for the address, exclusivity, and luxury positioning attached to these neighbourhoods, with location and luxury quotient selling more than extensive amenities in many projects.
