“Zerodha Co-Founder Nikhil Kamath Makes a Shift, Buys a Home After Promoting Renting”
In a surprising turn of events, Nikhil Kamath, co-founder of the online trading platform Zerodha, has purchased a house despite his long-standing advocacy for renting over homeownership. The billionaire revealed his decision during a recent episode of his podcast, “WTF is with Nikhil Kamath,” where he engaged in a lively discussion about the buying versus renting debate with industry experts Irfan Razack, Chairman & MD of Prestige Group, Nirupa Shankar, Executive Director at Brigade Group, and Karan Virwani, CEO of WeWork India.
In a surprising turn of events, Nikhil Kamath, co-founder of the online trading platform Zerodha, has purchased a house despite his long-standing advocacy for renting over homeownership. The billionaire revealed his decision during a recent episode of his podcast, “WTF is with Nikhil Kamath,” where he engaged in a lively discussion about the buying versus renting debate with industry experts Irfan Razack, Chairman & MD of Prestige Group, Nirupa Shankar, Executive Director at Brigade Group, and Karan Virwani, CEO of WeWork India.
Kamath, who previously criticized the concept of homeownership, shared the primary drawback of renting: the uncertainty of when one may need to move out. “The thing with renting, of all the advantages of renting, there is one disadvantage: you don’t have foresight as to when you can move out of the house. I had to move out of this house, whereas I might have liked to stay longer in this house,” he explained.
Despite acknowledging the benefits of homeownership, Kamath expressed his disdain for the illiquid nature of real estate, stating, “I hate the illiquid nature of real estate. If 10 people decide to sell, then prices can go haywire, and pricing is very arbitrary in nature.” He contrasted this with the stock market, where trading tends to have more liquidity and transparency.
Kamath also voiced his frustration over the stamp duty imposed by the government on property purchases, highlighting the costs associated with buying real estate. “In the stock market, I can buy and sell without paying 5% to 6% stamp duty,” he noted.
This unexpected decision has sparked discussions among his followers and the broader financial community, reigniting the age-old debate between renting and buying a home. As Kamath navigates this new chapter, his insights continue to influence many young investors and aspiring homeowners in India.
Sources By Agencies
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