AESL’s Aakash Chaudhry forks out 137 crore for a bungalow at Kautilya Marg

Updated on Aug 11, 2022 11:53 PM IST

Mumbai: Two big ticket property deals in Delhi and Mumbai have created a buzz in the realty market

Aakash Institute MD J.C.Chaudhry (R) with Center Director Aakash Chaudhry after opening the Institute for medical entrance exams at Andheri west in Mumbai on Saturday. HT Photo by Girish Srivastava/11.02.06
Aakash Institute MD J.C.Chaudhry (R) with Center Director Aakash Chaudhry after opening the Institute for medical entrance exams at Andheri west in Mumbai on Saturday. HT Photo by Girish Srivastava/11.02.06
ByVarun Singh

Mumbai: Two big ticket property deals in Delhi and Mumbai have created a buzz in the realty market. While one is an individual purchase in Delhi’s Chankyapuri, the other is a commercial rental deal in Goregaon, Mumbai.

On August 1, Aakash Chaudhry, Managing Director of the tutorial chain Aakash Educational Services Ltd, registered the purchase of a bungalow at Kautilya Marg for 137 crore. According to Zapkey.com, a data provider for real estate deals sourced from publicly available documents, the bungalow measures 1293.7 sq.mt. Chaudhry paid a stamp duty of 8.22 crore to register the deal.

In April last year the Chaudhry family had sold a majority stake in AESL to BYJU’s for 950 million dollars.

While Chaudhry’s acquisition of the Kautilya Marg bungalow is one of the largest private investments in property in recent times in Delhi, Mumbai continues to see an upsurge in sale and lease of commercial properties, signalling the city’s return to business-as-usual after 2 years of a pandemic-induced lull.

This month, Citicorp Services India renewed their lease of 1.6 lakh sq.ft. office space at Nirlon Knowledge Park in Goregaon for the next 5-year for 137 crore.

According to CRE Matrix a real estate deal aggregator that provides data based on public documents, the office space is spread over six floors and the lock-in period is until September 2024. Citicorp Services will be paying a rental of 137 crore across the total tenure of 60

months, which amounts to 2.28 crore per month.

Citicorp Services India will be paying 13.87 crore as security deposit for the rental deal that starts from 15th September as per the documents accessed through CRE Matrix. The deal includes 160 car parking slots for the company’s employees. The lease was executed and registered on 5th August.

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