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JC Chowdharyfounder of Aakash Educational Serviceshas bought a bungalow in delhi Greater Kailash 51 crore and three uber-luxury apartments in DLF’s The Camellias for around Rs 150 crore, said two people with knowledge of the transaction.
The Choudhary family recently transacted three high-value properties in Delhi after the tutorial chain was acquired by edtech platform Byju’s in a $950 million cash-and-stock deal.
Documents accessed by Zapkey.com show that Chowdhary paid Rs 3.06 crore as stamp duty for the Greater Kailash property. A person aware of the development said that the Gurgaon property is yet to be registered, but Chowdhary has started the fit-out.
“Purchased from Greater Kailash Property Infinity Buildwell And is spread over a plot of 1000 sq. yards. Recently, Neha Bansal, co-founder of eyewear retailer Lenskart, bought a 400-sq yard bungalow in the same locality for Rs 22 crore,” said one of the two people mentioned above.
In August, Akash Chowdhary, co-promoter and managing director of Aakash, bought a 1,300-sq m bungalow in Delhi’s Kautilya Marg for Rs 137 crore.
Earlier, Jesse Chowdhary had bought a 5-acre farmhouse in South Delhi for around Rs 96 crore.
Earlier, he had bought a 2,000-sq yard property in south Delhi’s Vasant Vihar area for over Rs 100 crore.
An email query for AESL and Infinity buildwell remained unanswered.
“Indian luxury/high end is expected to witness strong growth residential market in the next few years. The influx of high-net-worth individuals into India drives the demand for high-end properties in the country,” said Anshuman Magazine, Chairman and CEO – India, South East Asia, Middle East and Africa, CBRE.
With work-from-home culture becoming the norm, potential buyers are looking for larger spaces that will provide them with an enhanced lifestyle, secure their overall well-being, and offer a harmonious integration of the new work mode.
Around 85,000 units to be launched in Q3 2022; High-end/premium/luxury properties account for 22% of the total supply due to greater appetite for such locations amid increased activity by HNIs and NRIs.
The premium and luxury categories are witnessing an increase in demand, owing to expected capital appreciation and increased activity by HNIs and NRIs.
After being stuck at home during the lockdown last year and now, wealthy businessmen and executives are looking for bigger homes.
Recently, Zeeshan Hayat, founder of Toppr.com, which was acquired by edtech firm Byju’s last year, bought a 4,000-sq ft sea-facing apartment in a project by developer Rustomjee in Mumbai’s Bandra for Rs 41 crore.
Buyers such as business families, startup founders and top CEOs have been paying Rs 50 crore to Rs 1,000 crore for homes in the last few months.
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