[ecis2016.org] Reportedly valued at Rs 82 crores, the bungalow covers 6,000 sq ft and is within the ultra-exclusive Lutyens Bungalow Zone at Golf Links and in close proximity to New Delhi’s landmark areas like the Delhi High Court, the Supreme Court and India Gate, among others
Vijay Shekhar Sharma, the young founder of Paytm, is among India’s new billionaires, although it did not come without a lot of hard work, some luck and ample perseverance. Sharma’s road to riches was paved with hurdles and makes for an inspiring story.
The digital payment platform founded by him was in the news in November 2021. Touted as one of India’s largest IPOs at its debut, Paytm’s parent company, One 97 Communications Ltd, raised Rs 18,000 crores from its initial public offering. However, the euphoria was short-lived as the stock, which had an issue price of Rs 2,150 per share, fell on its very first trading day at the market, on November 18, 2021, to close its maiden session at a discount of 27% on its issue price. Sharma, however, remained undeterred, saying that Paytm was a company where ‘we are investing in the future’.
Sharma is also among the elite list of Delhi real estate owners, with his own property in Golf Links at central Delhi, one of the most posh locations in Delhi and also the entire country.
Vijay Shekhar Sharma’s house: Key details
Vijay Shekhar Sharma’s address is within the ultra-exclusive Lutyens Bungalow Zone (LBZ) at Golf Links in central Delhi. As per reports, the property is valued at Rs 82 crores. He entered into a memorandum of understanding (MoU) with the owners prior to registration of the realty deal. He has paid roughly Rs 1.36 lakh per sq ft for his home. The bungalow covers 6,000 sq ft and is near to New Delhi’s landmark areas like the Delhi High Court, the Supreme Court and India Gate, among others.
Vijay Shekhar Sharma is reportedly building his own new abode on this plot, which is located within the gated residential colony at Golf Links. It is surrounded by the lush Delhi Golf Course on the east while the Lodi Estate lies towards the west. The Golf Links residential area sprawls over 3,000 acres and contains close to 1,000 bungalows. Only 70 out of these bungalows are reportedly for private use.
Sharma made headlines earlier, for being the youngest Indian billionaire in the Forbes list, with USD 1.3 billion. He was also one of the only two Indians (the other being prime minister Narendra Modi) to get a place in the annual list of Time Magazine covering the 100 most influential people worldwide.
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Vijay Shekhar Sharma presently stays in the posh Greater Kailash area in south Delhi with his family. He may have actually struck a reasonable property deal for the house in Golf Links. The Paytm CEO will be the first billionaire from the internet and technology sector, to possess a home in this exclusive stretch, although his purchase is not as big, going by the real estate figures for elite Delhi properties. The entire locality has been designed with colonial architectural touches and sizable greenery and foliage, which cover the high boundary walls of the bungalows for greater security. There is no directory of local residents and police presence is considerable in the neighborhood too.
(Image source: Facebook)
Paytm Founder Vijay Shekhar Sharma’s Lutyens’ bungalow
Once Sharma shifts to his New Delhi home in LBZ, he will have illustrious neighbours for company, including VC Burman from the Dabur Group who bought his bungalow sometime earlier in Golf Links for a whopping Rs 160 crores. Other private bungalow owners in this exclusive zone include scions and heads of India’s oldest and richest business families like Vineet Jain from the Times Group, the Ruia family, Modi family, Birlas, the steel baron Laxmi Mittal and the Jindal brothers, among others.
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The Lodi Gardens lie adjacent to this zone and leading figures like Priya Paul of the Apeejay Group, DLF’s KP Singh and Bharti Airtel’s Sunil Mittal are also seen here. The area was designed by Sir Edwin Landseer Lutyens, the famous British architect. After independence, the central government froze all new developments in the LBZ and no new constructions have been allowed. Homes of India’s top members of parliament and cabinet ministers jostle alongside those owned by India’s leading business tycoons. Renuka Talwar, KP Singh’s daughter, earlier purchased a massive bungalow in the area for Rs 435 crores while Rajan Mittal from Bharti Enterprises paid Rs 156 crores for acquiring property in the LBZ. IndiaBulls’ co-founder, Rajiv Rattan paid Rs 220 crores for his property as per reports. The LBZ covers 26 sq kms and lies near Rashtrapati Bhavan. Vijay Shekhar Sharma will also have the President of India as his most famous neighbour.
(Image source: Facebook)
Vijay Shekhar Sharma’s investments
Vijay Shekhar Sharma may be investing further in real estate or other assets. There were reports that he may receive ESOPS for the first time from Paytm, as a reward for having brought the digital payments major to a position of strength over the years as per reports. This was at a time when the company was finalising the final share count for its proposed Rs 18,000-crore IPO. The ESOPS given to employees were from the 4% equity holding of Vijay Shekhar Sharma himself. This is the first time that he will receive ESOPS as his reward. If he monetises them after converting them into shares, then he could see another major windfall that may or may not translate into a sizable real estate purchase in the future.
Where is Vijay Shekhar Sharma’s house located?
Vijay Shekhar Sharma’s house is located in Golf Links within the Lutyens Bungalow Zone (LBZ).
How much did the Paytm founder pay for his house?
Vijay Shekhar Sharma reportedly bought his new home for Rs 82 crores.
How much area does Vijay Shekhar Sharma’s bungalow cover?
Vijay Shekhar Sharma’s bungalow covers a whopping 6,000 sq ft.
(Header image courtesy Wikimedia Commons)
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