Maia Estates Plans Rs 30 Bn Build Across 4 m Sq Ft This Year

27 Jun 2025 CW Team

The firm recently handed over its flagship scheme, 27 Summit, in just three-and-a-half years; the super-luxury flats there fetch between Rs 210 million and Rs 270 million at rates starting around Rs 47,000 per square foot. Maia now has six to eight residential projects in stages from planning to construction and expects to release a further 1.5–2 million square feet during FY 2026. About 50–60 per cent of its stock sits in North Bengaluru, where unit prices vary from Rs 25 million to Rs 120 million, while city-centre plots on Richmond Road and Basavanagudi are reserved for future ultra-luxury towers. Eastern Bengaluru, by contrast, remains a measured play for the brand.

Beyond the Karnataka capital, Maia entered Chennai late last year with an eight-villa enclave priced at roughly Rs 200 million apiece; only a handful of homes remain unsold and more launches are planned. The expansion requires around Rs 30 billion in capital, to be funded one-third each through equity, construction finance and customer advances. The group has already raised more than Rs 10 billion from CapitaLand for its commercial foray and secured a further Rs 3 billion for residential schemes via internal accruals and partners.

Maia’s commercial strategy began in February with a marquee deal alongside CapitaLand and now covers 1.5 million square feet under development. The goal is to triple that office footprint within four years, concentrating on Bengaluru’s Central Business District, Hebbal and the Outer Ring Road as suitable plots become available.

Bengaluru-based developer Maia Estates will invest about Rs 30 billion this financial year to launch more than four million square feet of new housing and commercial space, a move that should lift its city footprint towards 2.5 million square feet by March. Founder and chief executive Kalpana Ruia said the pipeline spans prices from roughly Rs 20 million to Rs 120 million, with super-prime residences costing upwards of Rs 15,000 per square foot. The firm recently handed over its flagship scheme, 27 Summit, in just three-and-a-half years; the super-luxury flats there fetch between Rs 210 million and Rs 270 million at rates starting around Rs 47,000 per square foot. Maia now has six to eight residential projects in stages from planning to construction and expects to release a further 1.5–2 million square feet during FY 2026. About 50–60 per cent of its stock sits in North Bengaluru, where unit prices vary from Rs 25 million to Rs 120 million, while city-centre plots on Richmond Road and Basavanagudi are reserved for future ultra-luxury towers. Eastern Bengaluru, by contrast, remains a measured play for the brand. Beyond the Karnataka capital, Maia entered Chennai late last year with an eight-villa enclave priced at roughly Rs 200 million apiece; only a handful of homes remain unsold and more launches are planned. The expansion requires around Rs 30 billion in capital, to be funded one-third each through equity, construction finance and customer advances. The group has already raised more than Rs 10 billion from CapitaLand for its commercial foray and secured a further Rs 3 billion for residential schemes via internal accruals and partners. Maia’s commercial strategy began in February with a marquee deal alongside CapitaLand and now covers 1.5 million square feet under development. The goal is to triple that office footprint within four years, concentrating on Bengaluru’s Central Business District, Hebbal and the Outer Ring Road as suitable plots become available.

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