Bengaluru-based entrepreneur Suhasini Sampath was recently interviewed by influencer Sharan Hegde where they discussed her financial affairs. She spoke about the sale of her business, her real estate investments and other topics during her appearance on the podcast ‘The 1% Club Show’.
Yoga Bar is an energy bar brand that Sampath and her sister Anindita Sampath founded in 2014. She sold 39 percent of her company’s stake last year to CCIOver the next three years, the FMCG conglomerate will pay Rs 500 crore to acquire all the shares in the startup.
Suhasini Sampath on “The 1% Club Show” podcast
Sampath shocked viewers by revealing that she does not live in any of her properties, despite owning two of the houses. She said she lives on rent in Bengaluru.
Asked about managing real estate investments, Sampath said, “I’m a chartered accountant, right? There are a couple of… for example, if you have two houses, you can generate a pool of capital gains by buying up to two houses.”
Suhasini Sampath dodged the question of whether she had bought two houses to save money on taxes, saying that she owns two properties but does not live in either of them. She said, “I do not live in either of the houses. I live in a rented house.” She also confirmed that the two houses she owns are rented out.
Netizens’ reactions to Suhasini Sampath’s rental properties
One user wrote on YouTube: “Umm so he has 500 crore and still he rents out the house? I get wealth and all these points but in the end money is an enabler, if you don’t spend it when you have so much and still keep worrying about investment then what’s the point?”
Another person wrote: “Okay, he lives in a rented house, but at least he has his house, and even if he doesn’t have one, he can buy one at any time in the future. But no middle-class person can buy a house with rising inflation in the future.”
Other founders who live on rent
The Yoga Bar founder is not the only one who has decided to live on rent. Nikhil Kamath, a Zerodha billionaire, also lives in a house that he does not own. Kamath had stated on CNBC TV-18’s “I Did it My Way” podcast in September 2023 that he “could not buy real estate at current valuations because I personally think they are ridiculous and stupid with the interest rates where they are, house and office prices going up makes no sense.”
“If I were to buy that flat and I had to leverage myself, say, 70 per cent, a Rs 60 crore loan would amount to Rs 600-700 a month as monthly instalment, which is like four times the cost of my rent. So, I am living in a house that costs a quarter of the monthly instalment. So, there is no point in buying,” says Shantanu Deshpande, founder and CEO of Bombay Shaving Company, who pays Rs 150,000 as rent for his flat in Gurgaon.
First published: August 21, 2024 | 17:57 IS
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