Resort homes near Mumbai witnesses an uptick in demand, post infrastructural boost.
By Dr. SACHIN CHOPDA
The travel bug has caught the imagination of the Indian people and we are seeing the highest figures recorded ever, in the last two to three years. Domestic tourism is seeing a steep growth trajectory as compared to foreign tourism. Travel entails huge cost and now people have realized that hotel stay contributes to a major portion of these costs. Investing in a Resort Home is the new trend that is fast catching the attention of people, where you earn attractive and regular monthly rental income from your property, with zero maintenance and at the same time also enjoy a vacation at your resort home during the year.
There are a number of factors that have contributed to this trend of letting your home earn for you. The new generation of Indians are looking at investments that give the highest returns in the shortest time frame, whilst they can still enjoy a vacation with the family; that too, a paid one.
We have been running a campaign which we have aptly coined “Kamanewala Ghar” – which means a house that earns for you. This allows the investor to retain ownership of his property, earn attractive returns with zero maintenance cost, in addition to holidaying at the resort for a certain number of days in a year. So, in short, he is on a perpetual holiday with absolutely no cost to him. Most importantly, this property becomes an asset to him as it appreciates over a period of time. So, maybe after a few years down the line, if he decides to sell it, he stands to earn huge profits from the sale.
India’s second & holiday homes, once believed to be trophy assets for the selected few, are now increasingly becoming mainstream. The market is presently sized north of USD 2.1 billion and is growing at a commendable rate of 23.6%, as per a recent research.
Investment in a resort home is a pragmatic decision that an investor makes as it offers assured and significant returns in the short and long term. Most resort homes are low cost investments but with high appreciation value. These resort homes are professionally managed wherein the investor has no maintenance cost to bear, but only stands to gain from his investment, from day one; with benefits accrued, over a period of time.
Tourism in India has got a major boost due to a number of large infrastructure projects that have improved connectivity within the country. This has resulted in people not hesitating to enjoy a holiday or even invest in a resort home of their liking, as they can now travel much faster and with greater ease, to reach their holiday destination.
Beach tourism is the most popular among places visited by tourists across the world. For people living in Mumbai and Pune, Alibaug is panning out to be the most sought-after holiday destination for a short weekend break. It is popular as it is situated on the scenic Konkan coastal town of Alibaug; just a few hours’ drive from Mumbai and ninety minutes’ drive from the upcoming Navi Mumbai International Airport. The inauguration of the Mumbai Trans Harbour Link (MTHL) is having a significant impact on the investment landscape for resort homes in Alibaug. This 22 km-long sea bridge has dramatically shortened the travel time between Mumbai and Alibaug by about 45 minutes, making it a highly attractive investment destination.
Pushpam Group, a major player in resort homes, is developing a resort home in Alibaug named Balibaug. It is being designed, inspired by Bali’s temples and palace architecture. This resort will consist of 2 &3 BHK luxury villas with private pool and gardens, open shower, terrace Jacuzzi, international standard interiors, sloping roofs, decorative crowns and other Balinese elements. In addition, the resort will have 20 plus amenities like 3 restaurants, spa, banquet hall, party lawn, gym, etc. The resort will employ green practices like rain water harvesting system, EV Charging station in addition to Wi-Fi facility and generation backup for its residents.
In conclusion, we can safely say that an investment in a resort home is a rational one, looking at the immense potential that it provides to investors and home buyers alike, over the years ahead. (The author is Dr. Sachin Chopda, Managing Director, Pushpam Group)
