Now In News that Paytm founder and digital entrepreneur Vijay Shekhar Sharma is buying a Rs 82-crore residential property at New Delhi’s Golf Links. It is one of the country’s most expensive real estates.
Vijay Shekhar Sharma has already paid a substantial advance after signing a MoU for a nearly 6,000-sq-ft property in the Lutyens’ zone. The man behind India’s second most valued internet enterprise, after Flipkart, plans to build a new home on the plot.
Sharma holds around 16% stake in Paytm after the company recently raised $1.4 billion+ from Japan’s SoftBank at $7-billion valuation. This was one of the largest fund infusions in an Indian startup. Sharma is also a majority shareholder in Paytm Payments Bank with a 51% ownership.
Sharma is the youngest Indian billionaire on the Forbes list with a net worth of $1.3 billion. According to Harun India rich list, Sharma’s wealth had surged about 162% last year. He is the richest entrepreneur under 40 years.
Sharma’s buy isn’t a really a big one in Delhi’s elite real estate circles but marks the entry of an internet billionaire into Lutyens’ zone. Real estate experts said Sharma was striking a reasonable deal as bungalow acquisitions have slowed down in recent quarters.
Dabur Group’s V C Burman purchased a bungalow in Golf Links for Rs 160 crore. While BPTP promoters sold a 575-sq-yard asset for Rs 65 crore in 2015, according to media reports.