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Amitesh Kumar Jhasenior vice president Flipkarthave bought a property in Adarsh Palm Retreat Villa In a deal worth around Rs 15.5 crore. The property has a super built up area of 4245 sq ft and a land area of 6300 sq ft.
“The deal was registered in May, and stamp duty of over Rs 79 lakh was paid,” mentioned the sale deed document shared by . Japki, The property was bought from Lotus Pool Capital directors Subbarao Telidevara and Shobana Krishnaswamy in Varthur Hobli, Bengaluru East taluk.
Jha has been associated with Flipkart for over 12 years and is the Senior VP-Category & Marketplaces looking after functions such as grocery, fashion and general merchandise for the company.
Recently the prices of super luxury homes like Adarsh Palm Retreat, Windmills of Your Mind by Total Environment and Embassy Boulevard in Bangalore have seen a sharp rise in prices.
Bhavesh Kothari, Founder, Property First, said, “Both demand and prices have doubled in the last one year for well-stocked societies and demand remains strong with very little inventory that gets liquidated quickly.”
Tax-saving start-up founders and company promoters have emerged as the main buyers of super luxury real estate properties after selling shares or stake in their companies.
“The demand for luxurious residences that offer unique living experiences has been on the rise in the Indian market over the past few years. Increasing number of high net worth individuals, rapid urbanization and rising incomes are some of the factors contributing to this.” That growth,” said Manoj Agarwal MD Agarwal Estates.
India’s ultra-high-net-worth individuals (UHNWIs) with a net worth of more than $30 million is projected to grow by 58.4% over the next five years from 12,069 in 2022 to 19,119 in 2027. India’s billionaire population is expected to increase to 195. person in 2027 out of 161 persons in 2022, according to Knight Frank India report.
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