At IIT Mandi, 27 students have received stipends of Rs 1 lakh or more this year. In Bengaluru, RV College of Engineering has seen 39 students getting over Rs 1 lakh in monthly stipends compared to 8 last year. Around 30 students at Vellore Institute of Technology have also bagged Rs 1-lakh stipends, with companies like Couchbase and Amazon offering Rs 1.2 lakh and Rs 1.1 lakh, respectively.
In Bengaluru, houses in the Billionaires Street (Koramangala), Epsilon Villas or Adarsh Palm Retreat (APR) are owned by the likes of Sachin and Binny Bansal, Flipkart cofounders, and its CEO Kalyan Krishnamurthy along with a few Infosys co-founders and the Raveendrans. The owners of several new-age firms such as Unacademy s Gaurav Munjal, PhonePe s Sameer Nigam, Meesho s Vidit Aatrey, the Zetwerk founders dot the palm tree and Mercedes-lined APR. India s CTO Nandan Nilekani, Wipro owners - the Premjis, and Rahul Dravid also own homes in Koramangala, where property rates have already built a formidable moat of exclusivity.
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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.