Latest news with #ISIR
Hindustan Times
22-05-2025
- Business
- Hindustan Times
ASK Property Fund, ISIR-backed real estate AIF raises ₹500 crore for Investment in luxury housing projects
ASK Property Fund and India Sotheby's International Realty (ISIR) backed real estate fund has raised ₹500 crore to invest in luxury housing projects across major cities within three months of the launch of its Alternative Investment Fund platform, ASK Curated Luxury Assets Fund- I (ASK CLAF I), the company has said. "This fund, aimed at investing in luxury residential projects, has evoked interest from many of India's prominent family offices, Ultra-High-Net-Worth Individuals (UHNIs), securing an investment corpus of ₹500 crore within 3 months of its launch," ASK Property Fund said in a statement. The fund is primarily focused on capitalising on the expected growth of India's luxury real estate market. It plans to invest in early-stage developments at attractive entry valuations, with a focus on premium residential projects in major cities, as well as horizontal developments like second homes and holiday properties. As an equity-focused vehicle, the fund aims to capture the project's profit margin and is targeting a minimum return of 2x or more on invested capital, Ask Property Fund said. This fund plans to immediately start deploying funds as per its investment strategy and aims to raise a total of ₹1,500 crore, including a ₹500 crore green shoe option, towards its final close. Also Read: ASK Property Fund and India Sotheby's International Realty join hands to launch ASK curated luxury assets fund ASK Curated Luxury Assets Fund I is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund under the SEBI AIF Regulations. "This collaboration and strategy present a unique proposition. The fund benefits significantly from SIR's capability to monetize projects through its extensive network, experience, and access to premium land parcels. We believe the fund can secure exclusive deals for our select developer partners via curated opportunities and maximize returns through well-structured investments," Amit Bhagat, co-founder, CEO and MD at ASK Property Fund, said. ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset and Wealth Management Group, is the investment manager and sponsor of the AIF, while India Sotheby's International Realty is co-sponsor and real estate advisor.
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Business Standard
01-05-2025
- Business
- Business Standard
Bengaluru's Rs 10 cr+ home market hits Rs 1,000 cr sales milestone in FY25
Bengaluru's luxury housing market has hit a new high, with sales of homes priced at Rs 10 crore and above jumping 59% in FY2024–25 to a record Rs 1,000 crore, according to a new report by India Sotheby's International Realty (ISIR) and real estate data firm CRE Matrix. In terms of the number of units sold, 78 luxury homes were purchased during the year, compared to 51 homes in the previous fiscal. The Rs 10–Rs 12 crore price bracket saw the highest sales, with demand coming largely from CXOs, startup founders, high net-worth individuals (HNIs), and globally mobile Indians. Many are buying not just for living but also as a strategic investment. 'Locations like Varthur and Gunjur are becoming increasingly popular due to their connectivity to tech hubs,' said Umesh Gowda HA, Chairman of Sanjeevini Group. Darshan Govindaraju of Vaishnavi Group highlighted that apart from NRIs, ESOP-rich tech professionals and investors seeking capital gains are now entering the luxury housing space. Anjana Sastri of Sterling Developers added that high rental yields, IT growth, and lifestyle aspirations are making Bengaluru a top choice for premium housing. Commenting on the report, Madhusudhan G, Chairman and Managing Director of Sumadhura Group, said the housing demand in Bengaluru is strongly driven by improvement in infrastructure, including expansion in the metro rail network. Real estate developer Sanjeevini Group Chairman and Founder, Umesh Gowda HA, said, "Bengaluru has witnessed a remarkable demand in luxury homes. The ever-expanding corporate presence, with record leasing activity and rising incomes, has shifted demand to this category. Micro markets like Varthur and Gunjur, owing to their connectivity to tech hubs, have emerged as a preferred residential destination."
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Business Standard
30-04-2025
- Business
- Business Standard
Bengaluru sees 59% rise in luxury home sales to ₹1,000 cr in FY25: Report
Bengaluru's housing market witnessed a 59 per cent growth in sales of luxury homes, costing Rs 10 crore and above, in the last fiscal at a record Rs 1,000 crore on high demand, according to India Sotheby's International Realty and CRE Matrix report. Real estate consultant India Sotheby's International Realty (ISIR) and real estate data analytics firm CRE Matrix's recent report mentioned that Bengaluru's luxury housing market (Rs 10 crore and above) achieved sale bookings of Rs 1,000 crore in 2024-25 against Rs 627 crore in the preceding year. In volume terms, sales of luxury homes rose to 78 units from 51 units. The report stated that Rs 10-12 crore ticket-size apartments are seeing the highest sales in Bengaluru's luxury segment. "Bengaluru's luxury housing market has entered a new league. We're seeing discerning buyers - especially CXOs, startup founders, and global Indians - investing not just in a home, but in a lifestyle. The demand today is driven as much by aspiration as by strategic asset allocation," ISIR CEO Ashwin Chadha said. Abhishek Kiran Gupta, Co-founder & CEO of CRE Matrix, said this is the first time the Bengaluru market has achieved Rs 1,000 crore in sales during a fiscal. "HNIs and startup founders are leading the charge, taking this segment to brand new heights," he added. The report noted that 22 per cent of the total sales value in Bengaluru during the last financial year came from Hebbal. It also led in volume, contributing 19 per cent of total units sold. Commenting on the report, Madhusudhan G, Chairman and Managing Director of Sumadhura Group, said the housing demand in Bengaluru is strongly driven by improvement in infrastructure, including expansion in the metro rail network. Real estate developer Sanjeevini Group Chairman and Founder, Umesh Gowda HA, said, "Bengaluru has witnessed a remarkable demand in luxury homes. The ever-expanding corporate presence, with record leasing activity and rising incomes, has shifted demand to this category. Micro markets like Varthur and Gunjur, owing to their connectivity to tech hubs, have emerged as a preferred residential destination." Darshan Govindaraju, Director of Vaishnavi Group, said the Indian luxury housing market is witnessing sustained momentum, fuelled not just by NRIs but increasingly by startup founders, ESOP-rich professionals, and investors seeking capital appreciation. Anjana Sastri, Director - Marketing of Sterling Developers, said, "The luxury housing segment continues to witness remarkable growth in Bengaluru, driven by a combination of economic, social, and lifestyle factors." The city's thriving IT industry, employment opportunities by corporates and multinational companies, development of tech parks in multiple key areas, cosmopolitan appeal, high rental yields and infrastructure development, amongst others, are driving demand for premium and luxury homes, Sastri said.
