kalyan krishnamurthy: Flipkart CEO Kalyan Krishnamurthy buys luxury villa in East Bangalore

Flipkart Chief Executive Kalyan Krishnamurthy has bought a luxury villa in East Bengaluru for over Rs 8 crore.

According to a document shared by Propstack, the villa at Adarsh ​​Palm Retreat in Varthur Hobli has a built-up area of ​​4,921 sq ft and is built on a plot of 6,918 sq ft.

Ideal Palm Retreat is a gated community of 800 red-roofed Victorian villas spread over 110 acres.

Krishnamurthy, Group CEO of Flipkart Group since 2018, did not respond to emails sent by ET.

India’s growing list of self-made ultra-rich individuals is fueling the demand for luxury homes amid a boom in the startup sector.

“UHNIs (ultra-high-net-worth individuals) are actively looking to buy a new home in 2022 due to the increase in their wealth. Bhavesh Kothari, Founder, Property First, a luxury property consulting firm, said, “We are seeing an increase in inquiries and a rise in transactions for good luxury properties.

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According to a report by Orios Venture, India saw 46 new unicorns in 2021, taking the number of such startups from at least $1 billion to 90. Indian startups raised $42 billion in 2021 from $11.5 billion in 2020. High valuations have made many startup founders and top executives millionaires in dollar terms.

Knight Frank said the number of UHNWIs in India grew by 11% year-on-year in 2021. Among major Indian cities, Bengaluru saw the fastest growth in the number of UHNWIs: from 17.1% in 2021 to 352. The southern city was followed by Delhi (12.4% and 210) and Mumbai (9% and 1,596).

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