UK-Based CEO Paresh Raja of Market Financial Solutions Buys Bengaluru Penthouse for ₹54.38 Crore
In one of Bangalore's biggest real estate transactions this year, a penthouse in central Bengaluru’s Sampangiram Nagar has been sold for ₹54.38 crore. The buyer, Paresh Raja, is the CEO of UK-based Market Financial Solutions, a private lending firm headquartered in London.
The penthouse is located in MAIA Estates’ 27 Summit, a residential project currently under development. It spans 7,065 sq ft of carpet area across the 25th and 26th floors, with a super built-up area of 10,629 sq ft, according to sale documents accessed by real estate platform Zapkey.
The transaction was completed at a carpet area rate of ₹77,000 per sq ft and a super built-up rate of ₹51,170 per sq ft, placing it among the costliest per square foot deals in Bengaluru’s residential market. The sale includes four parking spots, a double garage, and a private storage unit.
The seller, Nestled Haven Developers LLP, is a special-purpose vehicle under the MAIA Group. The holding company for the group is MAIA Estates LLP, which is also the project developer. The 27 Summit project is expected to be completed by November 27, 2025, as per the official documents.
At present, apartments in the 27 Summit project start at around ₹20 crore for 4,200 sq ft units, indicating that the penthouse deal is significantly above the base pricing for the development.
Sampangiram Nagar is part of Bengaluru’s Central Business District (CBD) and is known for its central location and connectivity to key roads such as Richmond Road and Residency Road. Though not traditionally ranked alongside ultra-premium residential areas like Koramangala or Indiranagar, the locality has seen rising interest due to its proximity to MG Road, Lavelle Road, and top hotels like ITC Gardenia.
Commenting on the area’s profile, Kiran Kumar, Vice President at Hanu Reddy Realty, said, “It’s a centrally located area with access to commercial hubs and premium hotels. While high-end projects are limited, some command prices between ₹25,000 and ₹40,000 per sq ft, depending on the specifications.”
This deal adds to a string of high-value residential transactions in Bengaluru over the past year. In December 2024, Infosys founder N.R. Narayana Murthy bought an apartment in Kingfisher Towers for ₹50 crore. The unit measured 8,400 sq ft and included five car parking spaces. That transaction was priced at ₹59,500 per sq ft.
Earlier in August 2024, a residential property in Indiranagar's Defence Colony was sold for ₹47.5 crore. The property included an 8,800 sq ft land parcel and a 2,500 sq ft home. The buyers, Shrinibash Sahoo and Himadri Tanaya Lenka, are associated with business interests in Odisha, including the Lyfe Hotel in Bhubaneswar.
The purchase of the penthouse by Paresh Raja reflects growing demand for luxury housing in Bengaluru’s core areas, particularly among global investors and Indian-origin buyers with overseas ties. Market Financial Solutions, the company he leads, specializes in short-term property lending and has operated in the UK since 2006.
Image source- 27summit.com
