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AweSpace Ventures Private Limited, a leading transaction advisory firm, has ventured into real estate development, specifically the development of luxury properties. The company has set a revenue target of INR 2500 crore over the next two years and plans to develop more than 360 ultra-luxury properties across India's major tourist locales.
AweSpace Estate Private Limited, the company's realty arm, will develop fully furnished ultra-luxurious projects, including villa estates and mansions, 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 generate direct and indirect employment.
Vijay Naraayanan, Co-Founder and Chief Executive Officer of AweSpace Ventures Private Limited, stated that the move into the real estate market represents a diversification of the company's investment strategy. AweSpace Estate Private Limited plans to raise funds of INR 500 crore for developing big-ticket luxurious projects in phases.
The first phase will focus on developing fully-furnished ultra-luxurious villas, estates, and mansions across six tourist destinations in India, including Goa, Alibaug, Lonavala, Shimla, Nainital, and Coorg. The company plans to develop premium properties in locations such as Maldives, Europe, Australia, and the United States in the second phase.
Through extensive market research, AweSpace Ventures Private Limited discovered that individuals interested in purchasing vacation homes in India are specifically drawn to beach or hill stations and hinterland locations with uninterrupted views. The company offers investors and buyers an unobstructed and awe-inspiring view of their surroundings while selecting a land parcel.
With sustainability and environmental protection at the forefront of global discussions, AweSpace Ventures has taken a significant step towards a greener and cleaner future by focusing on design and construction with the use of eco-friendly materials and energy-efficient technologies.
AweSpace Estate Private Limited, stated that the demand for luxury villas in exotic locales has surged in India. The company believes that international buyers are expressing interest, especially due to the pandemic, as these locations offer pristine beaches, lush forests, and breath taking views, making them ideal for those seeking a luxurious, nature-filled escape.
The demand for luxury properties in India has been on the rise in recent years. The luxury real estate sector has experienced a significant transformation due to the pandemic, with rentals and property values increasing. This trend is driven by a growing number of affluent Indians who are looking for unique and high-end vacation experiences. According to a report by Knight Frank India, the demand for luxury homes in India's top eight cities has grown by 60% in the past five years.
Furthermore, the Indian government's policies, such as the relaxation of Foreign Direct Investment (FDI) norms and the introduction of Real Estate Investment Trusts (REITs), have made it easier for international investors to invest in the Indian real estate market. Additionally, the government's "Housing for All by 2022" initiative aims to provide affordable housing to all citizens, further driving the growth of the real estate market in India.
In conclusion, AweSpace Ventures Private Limited's entry into the real estate development sector comes at a time when the demand for luxury properties is on the rise in India. The company's focus on sustainability and environmental protection will help set it apart from its competitors. With India's real estate market continuing to grow and diverse projects like those planned by AweSpace Ventures Private Limited have the potential to not only meet the growing demand for luxury properties but also contribute to the sustainable development of the sector.
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