Aakash Educational Services MD buys property in Delhi worth Rs 137 crore

Aakash Chaudhry of Aakash Educational Services Limited has bought a property worth Rs 137 crore in Delhi's Chanakyapuri area, documents accessed by Zapkey.com showed.

Chaudhry has bought a bungalow in Kautilya Marg, Diplomatic Enclave, Chankyapuri, the documents showed.

The property is 1293.47 sq m and was registered on August 1, 2022.

According to the documents 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 seller of the property is Sumitra Chakravarty of Oriental Structure Engineers Pvt Ltd through the builder Arvind Singh.

There was no response so far from the buyer to the query sent by Moneycontrol.

Last year, JC Chaudhary, founder of tutorial chain Aakash Educational Services, bought a 2,000 sq. yard property in south Delhi’s Vasant Vihar for over Rs 100 crore and later purchased a 5-acre farmhouse in south Bijwasan for about Rs 96 crore. The transactions took place soon after Byju’s, India’s biggest online-education startup, signed a deal to acquire Aakash for $1 billion in April.

It should be remembered that in the first week of April 2021, India’s biggest online-education startup Byju’s signed a deal to acquire tutorial chain Aakash Educational Services Ltd for $1 billion. The deal was one of the largest edtech acquisitions in the world. The Bengaluru-based Byju’s is valued at $12 billion.

The National Capital Region is also continuing to witness strong demand for luxury addresses and premium developments offering high-class amenities. There is heightened interest in plotted developments, villas in gated communities, standalone bungalows, and farmhouses. Capital values have started to firm up in select micro-markets in Delhi and Gurugram, and with the current demand momentum, values are likely to see an upward trend, she says.