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The backlash escalated when Rahul Gonsalves, an executive at PhonePe, mistakenly posted pictures of Kamath’s rented apartment stating it was newly purchased.
Some found the interior somewhat chaotic with hints of different styles combined into one space. (Photo Credit: X)
Nikhil Kamath’s maximalist apartment has come under scrutiny on social media, and it’s safe to say not everyone was impressed. The Zerodha co-founder recently bought a residential property in Bengaluru, which is Built over 7,000 square feet. The apartment’s interiors are quite eclectic and many said the design was inconsistent. Several comments on X point to the perceived disconnect between the possession of money and good taste.
The backlash escalated when Rahul Gonsalves, an executive at PhonePe, mistakenly posted pictures of Kamath’s rented apartment stating that it was newly purchased. This led to another wave of criticism from users who said the designs did not harmonise well with each other.
Some found the interior somewhat chaotic with hints of different styles combined into one space, eliciting remarks such as, “I love maximalism but I’d get a migraine living here.”
I love maximalism but I’d get a migraine living here— Swetha Priyadharshini (@SwethaPD) October 23, 2024
Another user said, “Damn, there are so many good interior designers in India so I am shocked at this travesty”.
damn, there’s so many good interior designers in India so I am shocked at this travesty— f(shlok) (@shlokafc) October 23, 2024
A user mentioned, “A lot of it is pretty lame. It’s not necessary to be rich and to have a refined taste. That said- it could also be that he’s repurposing furniture that he had in his rented houses over the years.”
A lot of it is pretty lame. It’s not necessary to be rich and to have a refined taste. That said- it could also be that he’s repurposing furniture that he had in his rented houses over the years.
— Manish Nagori (@Kneeche) October 24, 2024
However, some users stepped in and defended Kamath, saying that he probably was unable to change most of the interiors because of leases. A user commented, “Actually this is Nikhil’s rented house at KF Tower. One can’t do much to alter it as per agreement and so the tragical output.”
Actually this is Nikhil’s rented house at KF Tower. Once can’t do much to alter it as per agreement and so the tragical output.— Cat Father (@Ashutoshsamal) October 24, 2024
Kamath has been in the news of late for buying his first home, a move he discouraged for many years in favour of renting.
Speaking of renting on his podcast, WTF is With Nikhil Kamath, he stated that there was no say on lease agreements and one has to leave unexpectedly. He was quick to point out that even though there are benefits such as flexibility, there are always cons, for instance, one can never tell when they might be forced to leave their house.
Kamath may have bought a home but he is still skeptical about real estate as an investment segment. He identified his concern saying he would rather invest in liquidated assets with little or no loss in value, for instance, gold.
“I hate the illiquid nature of real estate… Places like this have fewer buyers… pricing is very arbitrary in nature,” he said.
In addition, Kamath was unhappy with the many financial ramifications of real estate activities, such as stamp duty, which may amount to as much as 5% or 6% of the property value. He contrasted this with share trading, where there are no fees and money can be converted into cash more readily.
Additionally, Kamath expressed doubts about the feasibility of purchasing real estate for rental income because many of these properties have low returns when compared to the current interest rate and inflation.
