Sunday, May 22, 2022

BigBasket cofounder Abhinay Choudhary buys property in prime location of Bangalore, priced at Rs 12.25 crore

Abhinay Choudhary, cofounder of online grocery company Bigbasket, has bought a plot of 9716 square feet in Epsilon, a prime location in Bengaluru, amid the second wave of Covid-19. The registration data obtained by revealed that it is worth Rs 12.25 crore. The plot is located in a gated community named Yamlur Home Owners Association on Yamlur Main Road, Bangalore, off Old Airport Road. This deal happened on June 15, 2021.

It is a prime area of ​​Bangalore, with large layouts ranging from 7,000 sq ft to 10,000 sq ft. There are only villa plots here.
According to local brokers, the market value is around Rs 13,000-15,000 per square foot depending on the plot size and location.

This project is located near the old airport. He said that the prices here range from Rs 10 crore to Rs 15 crore. However, Abhinay Choudhary refused to comment on the same.

Let us tell you that the former captain of the Indian cricket team, Rahul Dravid also lived here. “We are seeing an increase in the number of properties bought by promoters and early stage employees of several tech start-ups in the country,” said Sandeep Reddy, cofounder of Propstack, a real estate technology and data company.

“There are a number of deals that provide liquidity to promoters and early employees, allowing them to buy luxury homes to meet their aspirations and deduct tax on capital gains,” he said.

In May this year, Tata Digital, a unit of Tata Sons, acquired about 64% stake in Supermarket Grocery Supply, which is owned by BigBasket.

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