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India Sotheby’s and ASK-backed platform debuts with ₹63 crore investment in ultra-luxury villa project in Goa
India Sotheby’s International Realty and ASK Property Fund-backed platform announces investment of ₹63 crore in an ultra-luxury housing project in Goa
India Sotheby’s International Realty and the ASK Property Fund-backed platform has announced its first investment of ₹63 crore in an ultra-luxury housing project in Goa that will comprise 28 villas. The project is expected to generate revenue of around ₹360 crore, the company said on May 12.
The platform invested ₹63 crore in ‘Ananda Nilaya’, a project being developed by Priority Group in Arpora, North Goa. Spread across 5.12 acres, the upcoming development will feature 28 villas.
“This marks a significant milestone for Goa’s second-home market, representing one of the first major institutional capital commitments to the state’s luxury residential segment,” the company said in a statement.
The premium hillside villa project overlooking the sea is strategically located just 2 km from Baga Beach and is well connected to both Mopa International Airport and Dabolim Airport. Featuring an 18,000-square-foot exclusive clubhouse, this project caters to the growing demand for luxury second homes in Goa, it said.
Priority Group entered the Goa real estate market in 2007 and has since delivered ~3 lakh sq. ft. across 16 projects, while currently developing another 5 lakh square feet of residential projects.
Ananda Nilaya, Arpora, will be designed by the architectural firm Stapati, renowned for landmark hospitality and luxury projects, including Alila Diwa Goa and Enchanted Island Resort, Seychelles. The project will focus on eco-sensitive luxury design and curated living experiences. Another reputable name, Terra Firma, is a leading landscape design firm, it said.
“Goa has evolved into one of India’s most aspirational luxury second-home markets, attracting discerning buyers from across the country. Through Ananda Nilaya, we are partnering with a reputed local developer with deep market understanding and a strong delivery record to create a differentiated luxury villa community in one of Goa’s most sought-after destinations,” said Amit Bhagat, co-founder, CEO and MD, ASK Property Fund.
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“We look forward to the launch of this exceptional project in one of Goa’s most desirable destinations, offering unmatched views and a highly curated living experience. Our endeavour will be to leverage our network and expertise to bring together a like-minded community of discerning luxury buyers,” said Amit Goyal, MD, India Sotheby’s International Realty, the co-sponsor of ASK CLAF1.
“Institutional capital investing with us is a testimony to our hard work, governance standards and delivery orientation over the years. Ananda Nilaya is a unique hilltop development overlooking the sea in Arpora. By bringing on board renowned architects Stapati, known for their eco-sensitive and design-led projects, along with Terra Firma as landscape consultants, we aim to create a benchmark-setting villa development that elevates luxury living standards in Goa,” said Parind Nachinolcar, Managing Director, Priority Group.
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All project approvals, including RERA approval, have been received, the company said.
ASK Property Fund is the alternate asset investment arm of the ASK group, set up to manage and advise real estate-focused funds. The focus is on private equity investments in the self-liquidating residential segment. ASK PIA has raised ₹9,100 crore since 2009 and has invested in projects spanning 70 mn sq ft mainly in MMR, NCR, Bangalore, Pune and Chennai.
