Developers are coming up with sale-and-leaseback investment model in places like Jaipur, Lonavala, Kasauli, Coorg where a portion of resort is sold to individual buyers who can come and stay and give it on lease also.
“Buyers are looking for an elevated lifestyle, world-class design and services backed by a trusted brand. The runaway success of recent launches across Mumbai, Gurugram and Delhi prove that buyers will readily pay a premium for exceptional experiences and not just physical square footage,” said Ashwin Chadha, CEO, India Sotheby International Realty.
It’s co-sponsored fund, ASK Curated Luxury Assets Fund-I, recently invested in the Taj Mount Kusur Resort & Villas in Lonavala, developed by Amavi in partnership with Indian Hotels Company Limited (IHCL).
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“The way people choose their homes is evolving. Increasingly, homebuying decisions are being shaped by lifestyle choices and bythe kind of environment people want to live in. This shift is creating greater relevance for hospitality within residential real estate,” said Vishal Vincent Tony, Managing Director, Aratt Developers.
Aratt is executing multiple resort led project around Bengaluru.“Buyers are looking for more than just amenities; they are seeking convenience, service, experiences and an environment that complements their aspirations and everyday routines. Hospitality brings a service-led dimension to residential developments, which can change the way residents interact with and experience the overall development,” said Tony.
For developers, this also represents a shift in the way residential communities are being conceptualised. The focus is increasingly moving towards creating integrated living environments where residential, hospitality, leisure and social experiences come together.
“The projects based on the theme of hospitality are witnessing a significant surge of popularity in Bengaluru owing to the developing business environment, the strong presence of IT/technology and increased demand for quality experience. The combination of the sectors like hospitality, commercial and mixed use development creates new avenues for the developers and investors. There is an increasing demand for the developments that offer a combination of hotels, serviced apartments, shopping and dining,” said Raghunath Reddy Bhattagiri, Co-founder & MD Triguna Projects.
IHCL is hospitality partner at Triguna Country homes Denekanikoti and at Country Homes Harohalli.
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Fine Acers has partnered with Wyndham Grand Jaipur Amer- Spa, Resort & Branded Residences in the Amer–Kukas/Gunawata region of Jaipur.
The Resort is designed to combine luxury hospitality, branded residences, destination weddings, leisure experiences, wellness and professionally managed ownership.
“We believe that investors today are looking beyond conventional real estate and are increasingly interested in assets that combine ownership, professional management and a strong lifestyle proposition. Our focus is to create assets that have long-term relevance for both the hospitality ecosystem and the owners associated with them,” said Dinesh Yadav, Founder & Managing Director, Fine Acers.
The project is spread across approximately 10.5 acres and will feature 278 rooms/keys comprising studios, one-bedroom residences, two-bedroom residences and presidential suites.
The project is being developed under Fine Acers’ sale-and-leaseback model, through which eligible inventory is offered to individual owners and subsequently leased back for professional hospitality operations offering good returns.
“Customers are no longer buying just a second home; they are investing in a way of living. They want the privacy and ownership of a home, along with the upkeep, service and experiences that come with professional hospitality. For developers, this changes how such projects are planned, from the choice of location and design to how leisure and day-to-day services are integrated. The opportunity is particularly strong in leisure, heritage and spiritual destinations within easy reach of the metros, where a well-planned hospitality-led development can become a destination in itself. We see this segment growing significantly in the coming years as more people look for homes that offer both a great place to live and a place to escape to,” said Maneesh Mansingka, Joint Managing Director, JK Urbanscapes Developers Ltd.