Toppr.com founder Zishaan Hayath reportedly bought a 4,000 square foot apartment on the 13th floor of the Rustomjee La Fontaine on Turner Road, Bandra, Mumbai, for Rs 41 crore.
Toppr.com was acquired by edtech firm Byju's last year.
The luxurious real estate development has a basement, ground floor, and six podium parking spaces. It has a total built-up area of more than 50,000 square feet. In total, there are 15 floors in the project, but only eight of them are habitable, the Economic Times reported.
Moneycontrol could not independently confirm the news development.
India Sotheby's International Realty (India SIR), which deals in luxury properties, facilitated the transaction.
Most of Mumbai's luxury homes have been bought by ultra-rich individuals and successful professionals, as well as industrialists and actors, with startup founders becoming the latest purchasers of luxe properties, the report added.
To save on capital gains tax and upgrade lifestyle, they opt for real estate. In Mumbai, luxury residential property sales increased more than twofold in 2021, according to real estate data analytics company CRE Matrix.
The momentum has continued into 2022, driven by rising demand for larger homes with better amenities. Worli, Lower Parel, Bandra, Tardeo, Prabhadevi, and Andheri are the top luxury micro markets in Mumbai.
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