Record-Shattering ₹165 Crore Lavelle Road Bungalow Sale Signals Bengaluru's Rise in India's Ultra-Luxury Property League

A landmark property transaction in Bengaluru has reinforced the city's growing stature as a premier destination for ultra-luxury real estate investments, with a historic bungalow on Lavelle Road changing hands for an unprecedented ₹165.66 crore.

According to reports, Esencia Partners, backed by Manipal Group Chairman Ranjan Pai, acquired the expansive 25,824 square foot legacy property from Australian national Mira Angeline Cummins, marking a significant milestone in Bengaluru's luxury property landscape. The transaction reportedly established a new benchmark at ₹64,166 per square foot, setting a record for both total transaction value and per-square-foot pricing in the city's central business district.

Prestigious Location Commands Premium Valuation

Industry observers noted that the property's location on 50 Lavelle Road, one of Bengaluru's most exclusive addresses, played a crucial role in the transaction value. The area has long been recognized for its proximity to embassies, heritage bungalows, and high-net-worth residential properties, making it a highly sought-after address in India's Silicon Valley.

Sources familiar with the deal highlighted several factors that distinguished this transaction. The acquisition represented the highest price per square foot ever recorded in central Bengaluru for a residential property. Additionally, the purchase by a prominent institutional family office reportedly signals growing investor confidence in Bengaluru's core real estate market.

Surge in High-Value Residential Transactions

The Lavelle Road deal reflects a broader trend in Bengaluru's ultra-luxury segment, which has reportedly witnessed significant transformation over the past 18 months. Market analysts indicated that residential transactions in the ₹40-60 crore range have become increasingly common, representing a substantial increase from the ₹30-40 crore bracket observed just a year earlier.

Data from market intelligence sources revealed that eight high-value property transactions were registered in the city between January and October 2025, collectively worth ₹415 crore. This compares to only four such deals during the same period in 2024, which totaled ₹175 crore, indicating a 137 percent year-on-year growth in transaction value.

Real estate experts attributed this surge to growing interest from India's ultra-high-net-worth individuals and non-resident Indians seeking to invest in premium domestic properties. The trend appears to mirror patterns seen in other major metropolitan markets across India.

Limited Supply Driving Market Dynamics

Industry sources pointed to several factors contributing to the appreciation in luxury property values. Premium plots and completed bungalows in central Bengaluru are reportedly in extremely limited supply, with available properties being acquired rapidly by cash-ready buyers.

Market participants also noted that ultra-prime Indian real estate assets are increasingly viewed as vehicles for capital preservation amid global economic uncertainties and volatile international real estate markets. Developers and private equity investors indicated that inventory levels in core luxury corridors have reached five-year lows, creating upward pressure on valuations and intensifying competition among prospective buyers.

Institutional Interest Reshapes Market Narrative

Real estate analysts suggested that this record-breaking transaction represents more than just a headline-grabbing deal. The acquisition reportedly signals Bengaluru's evolution from a speculative market to a mature, performance-driven destination for high-ticket real estate investments.

According to industry observers, institutional family offices, global entrepreneurs, and legacy wealth holders are increasingly reshaping the city's luxury property landscape. As Bengaluru continues to attract global businesses, private capital, and generational wealth, experts anticipate that similar ultra-luxury transactions may follow. Those interested in exploring Bengaluru's premium residential neighborhoods may find this trend particularly noteworthy.

The transaction also underscores broader themes in India's luxury housing investment strategies, with wealthy individuals allocating significant portions of their portfolios to residential real estate in tier-one cities.

Disclaimer: This news article is based on publicly available information and industry reports. Readers are advised to conduct their own research and consult with qualified real estate professionals before making any property investment decisions. The views expressed by market observers and analysts quoted in this article are their own and do not necessarily reflect the position of this publication. Property values and market conditions are subject to change based on various economic and regulatory factors.