Soumya Narayanan, wife of Flipkart CEO Kalyan Krishnamurthy, has purchased a villa in Bengaluru for about Rs 8 crore, continuing the trend of IT entrepreneurs buying luxury homes, according to records obtained by Zapkey.com.
Narayanan purchased a home in the Adarsh Palm Retreat Villas project, which is quickly becoming the address of choice for IT tycoons. Adarsh Palm is a 110-acre gated development with 800 red-roofed Victorian homes on the Marathahalli Outer Ring Road.
Sandeep Reddy, the co-founder of Zapkey.com, a website that collects publicly available property registration data said, ‘We are witnessing an increase in the number of properties purchased by promoters and early-stage employees of several tech startups in the country on the back of massive fund-raising, ESOP liquidity and the upcoming IPOs’.
The selling deed for the property, which has a built-up size of 4,921 square feet and was built on a plot of 6,918 square feet, was recorded on March 4, 2022. According to a copy of the selling deed, the property was sold by Vijay Israni.
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The home has four bedrooms, five bathrooms, two kitchens, a puja room, living, dining, family, office, and media rooms, as well as a garage and utility room.
According to local brokers, a number of unicorn tech entrepreneurs have purchased homes in Adarsh Palm, where villas cost between Rs 4.5 crore and Rs 8 crore.
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