Retreat for the super rich

Villas are available, complete with top-of-the-line recreational facilities, near Lonavala, for Rs 4 crore

by Srikumar Bondyopadhyay

A 4-bedroom world-class villa at a hill station on the Western Ghats with all amenities and recreation facilities commensurate with a luxurious lifestyle may seem like a dream. But, for Rs 4 crore, it is possible to get a one-acre plot, with a villa built over 4,000 sq ft, at a hill station 1,000 feet above the sea-level and 25 km away from Lonavala, Pune. One can even make additional construction on another 2,500 sq ft area at one’s own expense. And, of course, access to all the amenities and recreation services is free for the residents of these villas. Moreover, one can get back the money after 8-10 years. This is the Sahara Lake City at the Amby Valley.

Located about 125 km from Mumbai, the city is being developed by the Sahara India Pariwar under the aegis of Sahara India Commercial Corporation Ltd (SICCL) as a top-of-the-line city-cum-adventure tourism centre. It is being built at a total cost Rs 8,500 crore spread over 5,000 acres of land in the picturesque backdrop of the Western Ghats and Koyarigarh Fort (Lohagad Fort).

Elaborating about the plans of the city, Mr Vineet Gambhir, assistant manager, guest relations and marketing, SICCL, says: “In the first phase, about 320 plots will be allotted, which will be will be completed by 2005.”
There are four options available, though. The first category of properties is worth Rs 3.97 crore. It comprises a basic property of one acre plot, a 4,000 sq ft 4-bedroom villa, and 30-year free maintenance of garden.
The second category of property costs Rs 4.24 crore apiece. It comprises the basic property (villa) and 30 tickets every month for 15 years for the proposed chopper service from Lake City connecting Mumbai, Belapur, Pune, Juhu and other nearby business centres.

Thirdly, there is a refund option. For a sum of Rs 4.74 crore, a buyer will get the basic one-acre property, villa and chopper service. After a period, depending upon the booking date, Rs 4.24 crore will be refunded while the ownership to the plot, villa and other things will remain the same as before.

The fourth option is an integration of all the above three options and under this plan one has to pay Rs 5.01 crore and can avail all the services and facilities mentioned earlier.

The entire residential project will be divided into three types of properties, namely Lake View, Valley View and Country View. The Lake View properties, being prime properties, are priced higher than the Valley View and Country View properties.

The company has proposed that constructions, including roads, would be done using only 11 per cent of the entire 5,000 acre. “This has been done so as to maintain a pollution free environment and also to preserve the natural exclusivity of this project,” says Mr Gambhir. “Once the entire project comes up, only CNG-fuelled or electric battery charged vehicles will be allowed inside the Lake City,” he adds.

Allocation of plots will be done on a selective basis. A committee comprising seven members, including TN Seshan, Russi Modi, Kapil Dev and Amitabh Bachchan, will screen the applications for allocation based on credibility. So far about 40 plots out of 150 applications have been allocated.

Plots would be leased out for a period of 999 years. Allottees can pay in quarterly installments spread over three years. The Sahara Lake City (the residential project), however, is only part one of the Amby Valley project. The other part, which the company envisages to be its cash cow, is adventure tourism centre. For this the company is developing facilities like a golf course, natural park, bird sanctuary, night safari, and adventure sports like paragliding, bungee jumping, etc.

While residents of Sahara Lake City will have access to all these recreational facilities, tourists will not be allowed to enter the residential area. While the final fee for availing these recreational services is yet to be finalised, it will no doubt be at a premium. The planning design of Amby Valley, Sahara Lake City, is done by US-based Gruen & Associates, which has designed Universal Studios, Disney, etc.

(The travel for this story was sponsored by Sahara India)