Bangalore Property - Island Homes, The New Paradise Of The Rich
Bangalore:
Long gone are the days when rich Indian home buyers used to invest
money only to buy luxury apartments in the city centre to get a posh
residential address. In today’s date, emerging high net worth
individuals (HNIs) are more interested to buy property that offers
blissful view of the environs coupled with ultra-luxury amenities.
Considering the fact, real estate developers are now shopping for
islands to attract buyers who seek luxury residences near water bodies.
Despite objections from local communities and environmental activists, the maximum island shopping seems to be focused in places like Kerala and Goa. Developers are eyeing on the backwaters and expansive lakes of Kerala and several other rivers of Goa that are connected to the Arabian Sea, Anshul Dhamija of TNN.
For instance, Bangalore based developer, Ozone Group, recently bought around 156 acres of land parcel on Goa’s Capao Island situated along the Mandovi River. Of the total land parcel, the group is planning to utilize only 5 percent to construct 80-100 villas under super-luxury category with a price quote of
20
crore and above. "We are planning an extremely low-density, but
ultra-luxury residential-cum-hospitality development that would cost
approximately Rs 1,000 crore," said S Vasudevan, MD, Ozone Group.
"There will be a luxury resort hotel and a marina for residents to dock their yachts," added Vasudevan.
Likewise, there are other prominent developers like Brigade Group and Nitesh Estates who are buying island lands in Kerala, a lush green state that has been witnessing the maximum protests over such purchases.
Maximum island shopping activity has been seen in Kerala’s picturesque
tourist hotspots like Bolgatty Island; island in Vaikom in Kottayam
district; islands on the Vembanad Lake and so on.
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Realtors Eye NRIs for Indian Housing Projects
London: Presenting India as one of the few
high-return real estate markets in the world, over three dozen property
developers from the country have come here to attract UK-based NRIs to
invest in housing projects back home.These developers, which include real estate units of large conglomerates like Mahindras, L&T, Godrej and Adani group, would participate in a two-day home fair organised by housing finance major HDFC.
The other realty players participating in this fair, which would start here tomorrow, include Sobha Developers, Purvankara Projects, Ansal Properties, Unitech, 3C Company, Emmar MGF, Lodha Group and Hiranandani Constructions.
"There is nothing like owning a home - in your homeland," HDFC Managing Director Renu Sud Karnard said.
"Demand for residential housing has witnessed rapid growth through corporate expansion out of the major cities. Amenities such as shopping and recreational centres and even the infrastructure in these towns can surpass even the major cities. It's an opportune time for NRIs to invest in property in India," she added.
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