New ₹1,000 Crore Fund to Invest in Luxury Homes Across India
ASK Property Fund and India Sotheby’s International Realty have teamed up to create a new ₹1,000-crore fund called the ASK Curated Luxury Assets Fund. This fund will focus on investing in high-end homes in top cities across India. The aim is to invest in luxury residential projects, vacation homes, and second homes in popular locations, including religious destinations.
The fund will start with ₹1,000 crore and has the option to raise an additional ₹500 crore. Its main focus will be on early-stage luxury housing projects in cities like Mumbai, Bengaluru, and Delhi-NCR. Additionally, it will target premium second-home developments, including villas and low-rise homes in coastal cities and hill stations. These homes will have prices starting from ₹8 crore.
ASK Property Fund and Sotheby’s will equally contribute to the fund. It is looking to attract investments from high-net-worth individuals (HNIs), family offices, insurance companies, pension funds, and other major financial institutions.
Amit Bhagat, CEO of ASK Property Fund, believes that the growing economy and increasing number of wealthy individuals in India will drive up the demand for luxury homes. Amit Goyal, Managing Director of India Sotheby’s, added that the partnership offers a unique investment opportunity with combined expertise.
India’s luxury home market is growing rapidly. According to Knight Frank India, the sales of homes priced between ₹2 crore and ₹5 crore have increased by 400% from 2019 to 2024. In 2024 alone, sales in this category rose by 82%. Homes priced above ₹20 crore have also seen a 270% increase in sales since 2019.
The market for homes priced between ₹20-50 crore grew by 84% in 2024, with Mumbai accounting for 78% of these sales. Ultra-luxury homes priced over ₹50 crore saw 150 sales in 2024, with 67% of them located in Mumbai.
ASK Property Fund has already raised over ₹7,200 crore since 2009. With this new fund, it aims to meet the growing demand for luxury homes while offering strong returns to its investors. For those interested in housing options or rental properties, EazeMyRent provides a platform to discover and book rentals across India.
