Gifting himself a swanky new abode, e-commerce major Flipkart CEO Kalyan Krishnamurthy has bought a luxury villa worth crores in East Bengaluru. Costing over Rs 8 crore, the property has 4 bedrooms, 5 bathrooms, dual kitchens and puja, living, dining, family, office and media rooms. It also has a garage and a utility room.

Having a built-up area of 4,921 square feet, Krishnamurthy’s new residence is located at Adarsh Palm Retreat in Varthur Hobli. The villa is constructed on a plot measuring 6,918 square feet, according to a document shared by Propstack.

Bengaluru’s Adarsh Palm Retreat is spread over an area of 110 acres and is a gated community of 800 red-roofed Victorian villas.

Meanwhile, Krishnamurthy has been Flipkart’s chief executive since 2018.

“UHNIs (ultra-high-net-worth individuals) are actively looking to buy a new home in 2022 due to an increase in their wealth. We are seeing an increase in enquiries and are witnessing increased transactions for good luxury properties,” Economic Times quoted Bhavesh Kothari, founder of Property First, a luxury property consulting firm, as saying.

According to Knight Frank, the number of Ultra High Net Worth Individuals (UHNWI) in India grew by 11 per cent YoY in 2021. Among the major Indian cities, Bengaluru saw the fastest growth in the number of UHNWIs. Here, the number went up 17.1 per cent to 352 in 2021. Next in line were Delhi (12.4 per cent and 210) and Mumbai (9 per cent and 1,596).

While Krishnamurthy is the latest to enter Adarsh Palm Retreat, the place has been a top choice to live in for several unicorn tech entrepreneurs. Usually, the villas in the area are priced somewhere in the range of Rs 4.5 crore and Rs 8 crore.