You know you’re moving up in the world when a house is one amongst your recent acquisitions. Binny Bansal, newly appointed CEO of Flipkart, has just sealed the deal to buy a posh bungalow in Koramangala. The buy would set him back by Rs. 32 crores or $5 million.
But the 33 year old entrepreneur should hardly be affected by the damages considering he’s the youngest Indian billionaire startup founder, with a stake worth around Rs. 7000 crores.
Binny Bansal and wife Trisha Vasudeva, who are currently neighbours with co-founder Sachin Bansal in Mantri Classic Apartments, also in Koramangla, will move into the 10,000 sq.ft property after formalising the deal.
Koramangla is home to some of the wealthiest entrepreneurs in India, including the likes of Infosys Nandan Nilekani, Kris Gopal and Dr Devi Shetty. The locality also is oft quoted as the “startup hub” of Bangalore with over 1000 startups that have their offices, and founders who reside here. It was out of an apartment in the National Games Village, Koramangla that Flipkart had first started in 2007 and currently has 3 offices in. (The headquarters have since shifted to Sarjapur road.)
According to reports, Bansal has acquired the new home from the Iqbal family, one of the long-time residents of the area. Apparently, he has paid the highest stamp duty for any residential property transaction with the local sub-registrar. Real estate company JLL is said to have brokered the transaction.
The property was taken on a private loan from 2 banks.