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Nikhil Kamath makes U-turn on homeownership stance in upcoming podcast
Zerodha Co-founder Nikhil Kamath reveals his unexpected decision to buy a house, despite his long-standing belief in renting, during a candid conversation on the upcoming podcast 'From Blueprints to Billions: Nikhil, Irfan, Nirupa & Karan Tell All'.
Nikhil Kamath is an Indian entrepreneur and investor, best known as the co-founder of Zerodha, a leading retail stock brokerage firm, and True Beacon, an asset management company. (Image source: Forbes India)
In a teaser for the upcoming episode of the podcast 'From Blueprints to Billions: Nikhil, Irfan, Nirupa & Karan Tell All', Zerodha's Co-founder Nikhil Kamath surprised listeners and his fellow panellists with a revelation that marks a significant shift from his earlier views on real estate.
Joining Kamath on the podcast are Irfan Razack, Chairman & MD of Prestige Group, Nirupa Shankar, Executive Director at Brigade Group, and Karan Virwani, CEO of WeWork India.
Kamath, who has been a vocal advocate for renting over buying property, casually mentioned, "I was telling them recently I bought a house." This remark drew a playful response from Nirupa Shankar, who cheekily said, "How come you're a convert? You always said you wouldn't buy a house!" Kamath's reply revealed his change of heart, "I had to move out of this house... not having the nuisance value of having to move felt like it made sense to buy one."
The statement stands in sharp contrast to Kamath's earlier stance on homeownership, which he expressed during a 'I Did it My Way' podcast on CNBC-TV18 in September.
At the time, Kamath firmly rejected the idea of purchasing property due to what he saw as inflated real estate valuations. "I could not get myself to buy real estate at today's valuations because personally, I thing they are ridiculous and retarded with interest rates where they are, for prices of homes and offices to go up does not make sense," he had said.
The teaser of his upcoming episode was aired on October 9 on YouTube.
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