The lead character and his wife are portrayed as Kannadigas (Kannada speaking) but they are clearly speaking a Google translated Kannada from an English dialogue.
Ipsit's surname is Nair, which is a sub-caste found in the south Indian state of Kerala. But Ipsit and Amala are seen speaking in Kannada, which is the language of Karnataka.
Ipsit lives in flat 701 on the seventh floor (also confirmed with the security guard at 41:00). However, when he enters the flat, the view from his flat (42:37) suggests he is on a much higher floor.
The cave where Ipsit goes back to is the Cave no. 10 (Kailash Temple) of Ellora caves, which has affiliation to the Brahmanical religion. The Ajanta caves are associated with Buddhism.