BYJU'S owned Aakash Institute MD buys bungalow worth Rs 137 crore in Delhi

Aakash Chaudhry, co-founder and managing director of Byju's-owned Aakash Educational Services Ltd (AESL), has spent Rs 137 crore for a bungalow on Kautilya Marg in Diplomatic Enclave, in one of the largest individual property deals in recent times.

According to the documents accessed by Zapkey.com, the Managing Director of Aakash Educational Services Limited paid Rs 8.2 crore as stamp duty, registration which happened on August 1. The property is 1293.47 sq meter.

Sumitra Chakravarty of Oriental Structure Engineers Pvt Ltd is the seller of the property, while the builder is Arvind Singh.

Last year, JC Chaudhary, founder of tutorial chain Aakash Educational Services, paid more than Rs 100 crore for a 2,000-square-yard property in south Delhi's Vasant Vihar and then paid nearly Rs 96 crore for a 5-acre farmhouse in south Bijwasan.

Byju's, the country's most valuable startup, announced in April 2021 that it will acquire tutorial chain Aakash Educational Services for $950 million in cash and equity. The promoters of AESL own a minority stake in the company.

The deal was one of the largest edtech acquisitions in the world. The Bengaluru-based Byju’s is valued at $12 billion.

Zishaan Hayath, founder and CEO of edtech startup Toppr, which was also acquired by Byju's, recently paid Rs 41 crore for a 4,000 sq ft sea-facing apartment in suburban Mumbai's upmarket Bandra district.

According to Savills India, the high-end and luxury residential segments in Mumbai, Delhi, Gurugram, and Noida have shown consistent growth in capital values.

In recent quarters, Lutyens and the southern section of Delhi have seen some major land and bungalow sales. Demand for luxury floors increased as well, driving up floor costs by 7% year on year in the first six months of 2022.