ASK Property Fund and India Sotheby’s International Realty have jointly launched India’s first luxury-focused ₹1,000-crore real estate investment fund. This fund aims to invest in premium residential projects across top cities, catering to the growing demand for high-end housing among wealthy buyers. The fund will also support premium second-home developments in coastal cities, hill stations, and religious destinations, focusing on properties priced at ₹8 crore and above.
The ₹1,000-crore equity fund, with an additional green shoe option of ₹500 crore, will target early-stage luxury residential projects in Mumbai, Bengaluru, and Delhi-NCR. Registered as a Category II Alternative Investment Fund with SEBI, it will raise capital from institutional and individual investors, including family offices, HNIs, insurance companies, pension funds, and sovereign funds, ensuring compliance with SEBI guidelines.
ASK Property Fund and India Sotheby’s, as co-sponsors, will equally contribute capital, leveraging their expertise to create a unique investment platform. This collaboration highlights the shift in India’s residential real estate market towards premiumization, driven by economic growth and rising affluence among urban demographics. Sales of luxury homes in the ₹1–10 crore and ₹20–50 crore segments have seen significant growth since 2019, with Mumbai emerging as the dominant market.
Amit Bhagat, CEO of ASK Property Fund, expressed optimism about the fund’s prospects, citing robust economic fundamentals and a growing appetite for luxury real estate. Similarly, Amit Goyal, MD of India SIR, emphasized the value of this strategic collaboration, which combines their expertise in managing high-performing funds and the luxury real estate segment.
This pioneering initiative reflects the evolving preferences of affluent homebuyers seeking larger, amenity-rich residences, further solidifying India’s luxury real estate market as a thriving segment.
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