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Home / News / India /  Aakash Chaudhry buys 137 crore bungalow in Delhi’s Kautilya Marg
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Bengaluru: Aakash Chaudhry, co-founder and managing director of Byju’s-owned Aakash Educational Services Ltd (AESL) has bought a bungalow in Kautilya Marg, Diplomatic Enclave for 137 crore, in one of the largest individual property transactions in recent times.

The 1293.47 square meter property was registered on 1 August. Chaudhry has paid stamp duty of 8.22 crore, according to documents accessed through Zapkey, which aggregates publicly available property registration data.

In April 2021, the country’s most valued startup major Byju’s said it is acquiring tutorial chain Aakash Educational Services, in a cash and stock deal that was estimated at $950 million. AESL promoters hold a minority stake in the company.

However, it was only in July this year when Byju’s said it has completed the payments due to AESL.

Chaudhry didn’t respond to an email query on the property transaction.

In two earlier transactions, JC Chaudhary, the founder of AESL, bought a farmhouse in south Delhi for around 96 crore, and before that, a 2,000 square yard property in south Delhi’s Vasant Vihar for over 100 crore.

Recently, Zishaan Hayath, founder and CEO of edtech startup Toppr, which was also acquired by Byju’s, bought a 4,000 sq ft sea-facing apartment in suburban Mumbai’s upscale Bandra area for 41 crore.

The high-end and luxury residential segments in Mumbai, Delhi, Gurugram and Noida have witnessed steady growth in capital values, according to property advisory Savills India. Delhi witnessed some notable land and bungalow transactions in Lutyens and the southern part in the last few quarters. Demand for luxury floors also picked up, which, coupled with limited new ready supply, pushed up floor prices by 7% year-on-year in the first six months of 2022.

In a report by research firm PropEquity, the luxury housing segment in India has seen its share rise to 12% in supply of all housing units in Tier 1 cities in the June quarter of 2022.

 

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