AweSpace.Estate To Develop 350+ Bespoke Villas In India’s Key Travel Destinations
AweSpace Estate Private Limited, a Mumbai-based leading real estate development company in the luxury segment, will be developing more than 350 ultra-luxurious residential retreats – villas and mansions – across India’s most sought-after travel destinations over the next two years. The company’s realty arm, AweSpace Estate Private Limited, is looking to raise Rs 500 crore funding to develop more than 360 ultra-luxury properties across India’s exotic locales that will cater to the growing demand for luxury travel experiences in India.
The company will be developing a collection of curated fully-furnished ultra-luxurious projects – villa estates and mansions – in exotic locales across India under its brand name, AweSpace.Estate. These properties will be exclusively managed by AweSpace Ventures Private Limited under its aegis global product, Estate Leverage Asset (ELA and will create new direct and indirect jobs in the country. “We are excited to expand our portfolio into real estate development of ultra-luxury properties and offer our clients the opportunity to experience premium vacation homes in some of the most exotic locations in the country. The move into the real estate market represents a diversification of our investment strategy, with a focus on meeting the lucrative and growing demand for luxury vacation properties in the tourist destination in India and overseas locales,” said Vijay Naraayanan, Co-Founder and Chief Executive Officer, AweSpace Ventures Private Limited.
AweSpace Estate Private Limited in its first phase will be developing fully-furnished ultra-luxurious villas estates and mansions on an approximate total of 150 acres of land spread in as many as six key tourist destinations – Goa, Alibaug, Lonavala, Shimla, Nainital and Coorg – featuring an array of spectacular features and amenities, private pools, landscaped gardens and club-houses. “With India’s luxury travel industry is witnessing strong traction and the luxury real estate sector has experienced a significant transformation post-pandemic and remarkable growth in rentals and property value has altered the outlook of both investors and travellers, at large. The debut of AweSpace.Estate brand will bring a new level of luxury and personalised experiences for travellers since our select locations offer pristine beaches, lush forests, and breath-taking views, making them ideal for those seeking a luxurious, nature-filled escape,” Naraayanan said.
The company already has a robust plan to tread into the Indian landscape and it will raise funds Rs 500 crore for developing big-ticket luxurious projects in phases and has set a revenue target of Rs 2500 crore over the next two year. In the first phase, AweSpace Estate Private Limited will be developing fully-furnished ultra-luxurious villas estates and mansions on an approximate total of 150 acres of land spread across in as many as six key tourist destinations – Goa, Alibaug, Lonavala, Shimla, Nainital and Coorg – featuring an array of spectacular features and amenities. In addition, it has planned to develop premium properties in locations such as Maldives, Europe, Australia and United States in the second phase.
Through extensive market research, the company has discovered that individuals interested in purchasing vacation homes in India are specifically drawn to beach or hill stations and even hinterland locations with uninterrupted views. While affluent travellers seek not just exclusivity and luxury amenities in their vacation, but also an unobstructed view. “We offer investors and buyers an unobstructed and awe-inspiring view of their surroundings while selecting a land parcel. We strongly believe that a property’s clear view is essential, which is why we always take extra measures to guarantee that our locations provide this crucial feature. Our commitment to delivering stunning views to our clients is unwavering,” Naraayanan pointed out.
The research elicited responses from HNIs and UHNIs to gauge the mood of owning a diversified portfolio of ultra-luxury properties across tourist destinations. “As disposable income and tourism, both domestic and international, continue to increase, there is a surging desire for luxurious holiday homes in exotic destinations throughout the country. This has led to a growing trend in vacation home ownership, with affluent Indians as well as NRIs investing in these properties for personal use or to generate rental income,” he said.
The demand for luxury villas in exotic locales has surged in India, according Ms Manali Khapre, Director and Chief Sales Officer, AweSpace Estate Private Limited and said, “This trend is driven by a growing number of affluent Indians who are looking for unique and high-end vacation experiences. The luxury real estate sector has experienced a significant transformation due to the pandemic, and the remarkable growth in rentals and property value has altered the outlook of both buyers and investors since these locations offer pristine beaches, lush forests, and breath-taking views, making them ideal for those seeking a luxurious, nature-filled escape.”
She further said that the surge in demand for luxury villas is not just limited to Indian buyers, international buyers are also expressing interest, especially due to India’s economic reforms and more lenient investment rules. Additionally, the emergence of modern infrastructure projects like green-field airports, national highways, and waterway transportation is contributing to this trend. “The overall investment sentiments are very positive and there are expectations that the sales figures will exceed all previous records in the coming months,” she added.
Overall, the trend towards luxury villa ownership in exotic locales is expected to continue in India as more people seek out unique, exclusive vacation experiences.
