Paytm boss Vijay Shekhar Sharma to build Rs 82 cr home

Mumbai: Paytm founder and chief executive officer Vijay Shekhar Sharma is buying a Rs 82 crore plot of land in Delhi's posh Golf Links locality, according to a report in The Economic Times. The report claims that Golf Links is one of the most expensive real estates in country.

Sharma has already made an advance payment for signing an MoU for the 6,000 sq ft plot in Lutyen's zone. The transaction has still not been registered though with the authorities concerned.

The news comes merely few weeks after Paytm started India's second payments bank Paytm Payments Bank that will do everything that a bank does except giving loans to its customers. PPB has made it clear that there will be no requirement of maintaining minimum balance every month.

"Sharma's peers and Flipkart co-founders, Binny and Sachin Bansal, have also made multi-million dollar residential investments in Bengaluru in the recent past,' the ET report said.

Paytm which is a Noida based digital wallet provider did not revert with a response when ET contacted it. Global property consultants CBRE, an adviser to the transaction, could not be reached for comments immediately.

Sharma has 16 per cent stake in Paytm after the company recently raised $1.4 billion from Japan's SoftBank at $7-billion valuation. This was one of the largest fund infusions in an Indian startup, the report said.