Wipro Heir Tariq Premji Acquires Luxury Bengaluru Penthouse for ₹45.71 Crore

Tariq Premji Buys Luxury Bengaluru Penthouse for Rs 45.71 Crore

Tariq Premji, the younger son of Wipro Ltd founder and billionaire philanthropist Azim Premji, has acquired a luxury penthouse in central Bengaluru for Rs 45.71 crore. According to property registration documents accessed through real estate data analytics firm Zapkey, the duplex apartment is located in the 27 Summit building in Sampangiramnagar, a premium residential development by Nestled Haven Developers LLP, a subsidiary of Bengaluru-based MAIA Estates.

The apartment boasts a carpet area of 7,065 square feet and a super built-up area of 10,602 square feet, as per the registration documents. This values the luxury property at approximately Rs 43,123 per square foot. The deal also includes 11 covered basement car parking spaces and a proportionate undivided land share of 2,952 square feet.

The transaction stands out as one of the largest residential deals in Bengaluru this year, with Zapkey co-founder Sandeep Reddy noting its significance. However, there was no immediate response from Tariq Premji or MAIA Estates to Moneycontrol's queries.

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Bengaluru's Luxury Housing Market

Bengaluru's luxury housing market has continued to witness high-value transactions over the past year, driven by demand from startup founders, technology executives, business families, and high net-worth individuals. Central business district locations and premium micro-markets such as Sampangiramnagar, Richmond Town, Indiranagar, and Koramangala have seen increased interest for large-format residences and high-end developments.

Note: The table above highlights the recent transactions in various market segments in Bengaluru.

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MAIA Estates has emerged as an active player in Bengaluru's luxury residential segment, focusing on boutique premium projects in core city locations. 27 Summit is a residential development off Richmond Road in Central Bengaluru, spanning 2.61 acres and featuring 75 residences ranging from 3 BHK to 4.5 BHK units.

The ultra-luxury market in Bengaluru is decoupling from broader residential trends, with ultra-high-net-worth individuals increasingly willing to pay a significant premium for unique, 'villa-in-the-sky' concepts that offer absolute privacy, low density, and world-class design, according to Reddy.

Who is Tariq Premji?

Tariq is Azim Premji's younger son and is associated with family office Azim Premji, which manages a diverse portfolio of technology, healthcare, consumer, financial services, and growth-stage companies. Premji Invest has backed several Indian startups and businesses and is regarded as one of the country's prominent investment platforms.

Azim Premji is among India's leading business leaders and philanthropists, having committed a significant portion of his wealth towards education and social development initiatives through the Azim Premji Foundation. Tariq completed his graduation in commerce from St Joseph's College in Bengaluru and was appointed a board member of Wipro Enterprises in 2018. He is also a part of the Azim Premji Foundation.