Paytm founder Vijay Shekhar Sharma is buying a Rs 82-crore ($12.7-million) residential property at New Delhi’s Golf Links, one of the country’s most expensive real estates.
38-year-old Sharma has already paid a substantial advance after signing a MoU for a nearly 6,000-sq-ft property in the Lutyens’ zone, though the transaction is not registered yet, according to Times of India report.
Sharma holds around 16% stake in Paytm after the company recently raised $1.4 billion from Japan’s SoftBank at $7-billion valuation. He is also a majority shareholder in Paytm Payments Bank with a 51% ownership.
Forbes named Sharma as India’s youngest billionaire earlier this year, with a net worth of $1.3 billion. His wealth surged nearly 162 per cent in 2016, according to Harun India rich list. His company Paytm is considered to be one of the biggest beneficiaries of demonetization, witnessed over 7 million transactions worth Rs 120 crore a day, within 12 days of banning of Rs 1000 and 500 currency notes.