Chaudhry family buys fourth property in Delhi post Byju’s deal


Bengaluru: Jagdish Chand Chaudhry, founder of Byju’s-owned Aakash Educational Services Ltd (AESL), has bought a prime residential property in south Delhi’s Greater Kailash-1, for 51 crore.

The property with 836.12 sq metres plot area has been bought from Infinity Buildwell Pvt Ltd. Chaudhry has paid stamp duty of 3.06 crore, according to documents accessed through Zapkey, which aggregates publicly available property registration data.

This is the third prime property Chaudhry has bought in Delhi, in recent times. In two earlier transactions, Chaudhary 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.

Chaudhry didn’t respond to an email query.

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.

The Chaudhry family has bought four properties since the Byju’s transaction. Earlier this year, Chaudhry’s son, Aakash, co-founder and managing director of AESL, also bought a bungalow in Kautilya Marg, Diplomatic Enclave for 137 crore, in one of the largest individual property transactions in recent times.

The high-end and luxury residential segments in Mumbai, Delhi, Gurugram and Noida have witnessed steady growth in capital values. Delhi has 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 over the last year or so.

 

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