In a significant move within the luxury real estate sector, ASK Curated Luxury Asset Fund I (ASK CLAF I), a collaboration between ASK Property Fund and India Sotheby's International Realty, has announced its inaugural investment in Goa, amounting to ₹63 crore. This investment is directed towards the luxury housing project named 'Ananda Nilaya', which is being developed by the Priority Group in Arpora, North Goa. The project is poised to cover an area of 5.12 acres and will feature 28 exclusive villas, catering to the increasing demand for high-end residences in the region.
The Priority Group, established by Parind Nachinolcar and Swapneel Nachinolcar, has been a notable player in the Goan real estate market since 2007. With a track record of delivering approximately 3 lakh square feet of residential space across 16 completed projects, the group is actively engaged in developing an additional 5 lakh square feet of residential offerings. The successful execution of their projects reflects their commitment to quality and innovation in luxury housing. All necessary project approvals, including those from the Real Estate Regulatory Authority (RERA), have been secured, enabling a smooth progression towards project completion.
Amit Bhagat, Co-Founder, CEO & Managing Director of ASK Property Fund, emphasized the growing appeal of Goa as a prime destination for luxury second homes. He noted that the region has become increasingly attractive to affluent buyers seeking a retreat that combines the charm of coastal living with modern amenities. The strategic investment by ASK CLAF I signifies a broader trend of investment in luxury real estate in Goa, aligning with the aspirations of discerning homebuyers.
Amit Goyal, Managing Director of India Sotheby's International Realty, expressed the firm’s commitment to leveraging its extensive network and expertise to foster a community of luxury buyers in Goa. This collaboration is indicative of the evolving landscape of real estate investment in India, where premium markets are witnessing heightened interest. Since its inception in 2009, ASK Property Fund has raised ₹9,100 crore, with investments spanning approximately 70 million square feet across major urban centers including the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Pune, and Chennai. With the launch of 'Ananda Nilaya', the partnership between ASK CLAF and the Priority Group is set to enhance the luxury housing market in Goa, catering to the growing demand for upscale living in this picturesque destination.