As e-commerce giant starts ESOP payout worth around Rs 5,600 crore, real estate experts in Bengaluru expect investments of around Rs 2,800 crore. For the 19,000 employees, it makes sense to buy a larger house rather than pay tax on the amount received from the company, they say.
Amitesh Kumar Jha, the senior vice president of Flipkart, has purchased a property in Bangalore for approximately Rs 15.5 crore. The property, located in Adarsh palm retreat villa, has a super built-up area of 4245 sq. ft. and a land area of 6300 sq. ft. The purchase was registered in May and involved a stamp duty of over Rs 79 lakh. Jha, who has been with Flipkart for over 12 years, is involved in categories like grocery, fashion, and general merchandise.