After Byju’s deal, Aakash founder buys bungalow worth Rs 100 crore: Report

Aakash Educational Services Ltd (AESL) founder J C Chaudhry has bought a 2,000 square-yard property in South Delhi’s Vasant Vihar for around Rs 100 crore, according to a report by Moneycontrol quoting sources.

According to the report, the bungalow was registered in the name of Chaudhry on April 6, 2021, and the seller was Aditya Techno Build Private Limited.

DH couldn't independently verify the report.

Recently, Byju's, the most valued ed-tech startup in the country, acquired Chaudhry's AESL for nearly Rs 7,300 crore. The acquisition is Byju's biggest and one of the largest ed-tech deals in the world.

Also read: UBS backing crowns Byju’s as India’s most valuable startup

Local brokers told the publication that the value of the bungalow is somewhere around Rs 5 lakh per square yard. There are about 25 plots, of the size of the property bought by Chaudhry, in the Vasant Vihar area.

Chaudhry has reportedly taken advantage of the 20 per cent rebate in circle rates announced by the Delhi government on February 5, which is available until September 30, 2021.

Brokers informed the publication that the cost of the property is Rs 129 crore, as per the circle rate. After a discount of 20 per cent, the property was bought for Rs 103 crore.

“We are also witnessing several deals in the tech startups space where promoters are either selling or raising a lot of money given the huge investor demand. Such deals offer good liquidity to promoters and early employees who end up buying luxury homes to fulfil their aspirations and also cut some tax outgo resulting from capital gains,” Sandeep Reddy, founder of Propstack, told the publication.