Paytm founder and digital entrepreneur Vijay Shekhar Sharma, who heads the second-most valued internet enterprise after Flipkart, 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. Sharma has paid a ‘substantial’ advance and signed an MoU for a nearly 6,000-sq-ft property in Lutyens’ Delhi.
38-year-old Sharma is the youngest Indian billionaire in the Forbes list with a net worth of $1.3 billion. According to Harun India rich list, his wealth surged nearly 162 per cent in 2016, making him the richest entrepreneur under 40 years.
Sharma holds around 16% stake in Paytm after the digital payments firm raised $1.4 billion from Japan’s SoftBank Group, at a valuation of nearly $7 billion. SoftBank and China’s Alibaba Group are major shareholders in the startup. Sharma is also a majority shareholder in Paytm Payments Bank with a 51% ownership.
Reportedly, 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. Flipkart co-founders, Binny and Sachin Bansal, have also made multi-million dollar residential investments in Bengaluru in the recent past.