If you dreamt of a villa by the seashore or one perched atop a hill, this could become a reality as realtors are foraying into leisure residential projects that cater to the dreams of affluent Indians. Till late, farm houses on the outskirts of the city were weekend homes for the rich and famous. With luxury homes becoming the norm, developers are fast moving into this space.
Chennai based MARG, recently unveiled its luxury housing project. Christened Tapovan, these 90 villas spread over 77 acres will be located in Pavanjur near Chennai on the famed ECR (East Coast Road). Designed as a gated community, each villa will have an individual swimming pool, a jacuzzi and a gymnasium and reading room. Each home will come up on half acre of land with a covered area of 6,000 sq ft including a built-up area of 2,275 sq ft.
Moreover, Tapovan would include amenities like battery operated carts to commute within the campus, tennis and basketball courts and a meditation centre. The project is expected to be completed within two years and the invitation price is Rs 1.3 crore for each villa. Moreover, Tapovan would also house a vedic village conceived and promoted by the Ojas Foundation. The village would house a vedic pathshala, goshala, herbarium, a speciality restaurant and ayurvedic therapies.
Says GRK Reddy, managing director, MARG, ?People are looking at options to be away from the city. Moreover, the concept of extended weekends is getting popular.? Tapovan is a by-invitation affair and Reddy says the initial response to the project has been very encouraging. The target audience are mostly high bracketed salaried professionals like doctors, architects and IT executives.
Hallmark Infrastructure which has a joint venture with a Dubai-based firm for developing high-end bungalows near Maraimalai Nagar. These 120 bungalows are spread over 40 acres and are priced at Rs 1 crore each. Hallmark has positioned these bungalows as seasonal homes and company officials say there is a high demand for second homes now.
Vijay Shanthi Builders is also developing 100 villas across 20 acres on the foothills of Yercad. The three bedroom units varying between 2,800 sq ft and 3,600 sq ft with the villas priced at Rs 65 lakh each. Vijay Shanthi hopes to complete these 100 homes within the next two years.
“Increasingly, high net worth individuals are looking at two homes, one within the city and the other outside the city,” says Suresh Kumar, managing director, Vijay Shanthi Builders.
Similarly, Kolkata based Merlin Projects has developed country homes christened Merlin Greens. “Like in US and Europe, suburban living is becoming the norm in India. People want to reside in the countryside and drive downtown to work,” says Sushil Mohta, managing director, Merlin Projects. Spread over 150 acres, Merlin Greens has 250 bungalows from Swiss styled chalets, garden homes or colonial bungalows on the outskirts of Kolkata. The company has completed the first phase of its operations (130 homes).