BENGALURU: The luxury property market in Bengaluru has reached unprecedented heights with the sale of a prime bungalow located at 50 Lavelle Road, marking the city’s most expensive property transaction both in total value and per square foot.
The 25,824 sq. ft. site was purchased by Esencia Partners, associated with Manipal Group chairman Ranjan Pai, for Rs 165.66 crore—an extraordinary Rs 64,166 per sq ft, a record for central Bengaluru.
This sale underscores the remarkable growth in Bengaluru’s ultra-luxury residential sector, where deals in the Rs 40 crore to Rs 60 crore range have become more frequent, pivoting away from the traditional Rs 30–40 crore bracket.
Data from Zapkey, a Bengaluru-centric real estate analytics firm, reveals this trend and indicates robust investor confidence in the high-end housing market.
“The inventory of premium residential properties in Bengaluru is limited. High-quality properties in sought-after locations are rapidly secured as soon as they become available in premium developments,” stated Bhavesh Kothari, Founder and CEO of Property First.
Between January and October 2025, Bengaluru recorded eight luxury residential transactions worth Rs 415 crore, more than doubling the total from the same period in 2024, which had four deals totaling Rs 175 crore, according to Zapkey.
Recent notable transactions include several apartments in prestigious locations such as Ashok Nagar, Lavelle Road, and the upscale Sadashivanagar neighborhood, each commanding prices exceeding Rs 50 crore.
“Buyers in Bengaluru are discerning, globally minded, and increasingly inclined to invest in properties that signify status, privacy, and exclusivity,” remarked Sandeep Reddy, co-founder of Zapkey.
The property known as Sunny’s, which is currently based at the acquired Lavelle Road site, embodies this landmark transaction, merging classic elegance with modern luxury that characterizes Bengaluru’s elite residential sector.
Zapkey’s findings highlight a growing trend among ultra-high-net-worth individuals and family offices demonstrating faith in Bengaluru’s luxury real estate, thus driving prices and transaction volumes to new heights.
The real estate landscape in the city is evolving, showcasing a more sophisticated buyer demographic—a clear indication that Bengaluru’s luxury housing market is establishing itself as a premier contender alongside Mumbai and Delhi.
Among the top deals was a Rs 50 crore purchase by Infosys founder Narayana Murthy last December, signaling a shift toward significant investments in prestigious addresses.
Earlier this January, Seema Ravanan, wife of AI firm Alfahive chairman Rostow Ravanan, acquired an independent house in Sadashivanagar for Rs 57.6 crore from the Kalappa family, while the Suvarna Family Trust purchased a property in Jayanagar for Rs 45.78 crore.
Additionally, Paresh Shantilal Raja, CEO of Market Financials, expanded the luxury property market by acquiring a villa in Sadashivanagar for Rs 54.39 crore.
Industry experts note that today’s luxury homebuyers are not just focused on large properties but are also becoming selective about “smart addresses”—localities that offer heritage value, privacy, status, and connectivity.
Many transactions occur off-market, providing limited visibility to the public. While developers are launching bespoke luxury projects, a significant portion of demand is directed toward resale properties in heritage neighborhoods such as Sadashivanagar, Indiranagar, and Koramangala, which often command high premiums comparable to newly developed luxury homes.
