Sector-specific exemptions, such as those for tourism, were also ruled out. Goa Chief Minister Pramod Sawant hosted the meeting on Tuesday.

In attendance were Bihar Deputy Chief Minister Samrat Choudhary, Maharashtra Women and Child Development Minister Aditi Tatkare, Gujarat Finance Minister Kanubhai Mohanlal Desai, Kerala Finance Minister K N Balagopal, Punjab Finance Minister Harpal Singh Cheema, Uttar Pradesh Finance Minister Suresh Kumar Khanna, and central government GST officials.

According to a media statement issued post-meeting, the discussions focused on various issues concerning the real estate sector.

A key point was the debate over granting GST exemption on long-term land leases by private entities and sector-specific exemptions like those for tourism purposes.

After thorough discussions, the GoM reached a consensus that no further exemptions were necessary. GST will continue to be levied at the applicable rates, as stated in the release.

Other topics included the taxability of construction services supplied by cooperative housing societies to members in new or redevelopment projects.

This issue was also explored in depth during the meeting. The statement noted that “various perspectives emerged” and it was determined that more deliberation is needed, pending data collection from the states.

It was also decided that a Committee of Officers will examine these issues further, after acquiring the necessary information and data from the states, before a final decision is made at the next GoM meeting.

On the topic of reviewing the Rs 45 lakh value limit for defining an affordable residential apartment in metropolitan regions, the GoM resolved to seek input from Karnataka, West Bengal, Tamil Nadu, Uttar Pradesh, Maharashtra, and Delhi to form a consensus.

The matter of determining the value of land to calculate the cost of construction services for apartment sales was postponed for further review, as mentioned in the statement.

The next GoM meeting is expected to take place on October 25.

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According to property consultant Anarock, Mumbai has seen the highest growth in monthly rentals at flexible office spaces at 27% in the last four years followed by Gurugram at 19%.  This bodes well for the industry as it will lead to more supply and attract investors given the

co-working industry’s track record of consistently yielding rich results for its stakeholders over the last five years.

Over the last decade, companies have been increasingly opting for flexible managed office spaces to save on fixed costs while bringing more flexibility and agility to the business.

This trend was accelerated by the COVID-19-induced pandemic and today, nearly a fifth of total  new office space leasing is absorbed by co-working spaces across the top seven cities.

A Good bet for investors

Given the sector’s strong fundamentals in consistently attracting occupiers across the board, there is great demand among startups and large technology companies, making it an attractive proposition for investors.

Investments in co-working spaces become even more lucrative due to the greater flexibility and lower risk exposure it offers as against traditional real estate investments.

Similarly, the shared nature of these flexible office spaces allows for faster adaptation by occupiers and meets their evolving needs, thereby mitigating risks and fast-tracking the path to profitability.

There are multiple ways in which investors, both institutional and retail, can participate in co-working spaces’ growth journey including Proptech platforms and alternate investment funds among others.

These platforms have played a critical role in enabling retail investors to invest in India’s fast-growing commercial real estate segment which was out of bounds earlier due to high upfront investment requirements and lack of market expertise.

Studies by Anarock suggest that investments in the flexible office sector grew more than threefold to Rs 4,600 crore between 2020 and 2023 from Rs 1,400 crore received in funding between  2015 and 2019.

The inflow of new players to expand the market

The success of flexible managed office spaces is attracting new players into the fray which is helping expand the market while creating new opportunities.

Avendus suggests in a report that around 250 flex or co-workspace operators, with $3.5 billion in annual revenue in 2023, are estimated to generate revenues of $9 billion in five years.

This democratization of flexible workspaces is also enabling small to midsize space providers to cater to the needs of smaller companies that were largely devoid of premium office spaces due to high costs.

While its initial adoption was led by the top cities including Mumbai, Delhi-NCR, Kolkata,  Bengaluru, Hyderabad, Chennai, Ahmedabad and Pune, the trickling down of the concept of co-working spaces into smaller cities is opening up million-dollar opportunities.

This assumes significance as India has over 4,000 cities with only eight cities being the hub of all economic and technological developments so far and there is a concerted effort by the government and the industry to establish new engines of growth in smaller cities.

At the same time, the sector is also witnessing the inflow of international players from cities like New York and Hong Kong a testament to the sector’s attractiveness as a preferred destination for investments.

This is helping bring global best practices to the  Indian flexible office segment, thereby elevating its quality of services and further drawing the attention of investors.

Going forward, the continued rental growth in the flexible managed-working sector underscores its significant impact on the broader real estate market.

As flexible workspaces become increasingly integral to the business strategies of companies large and small, traditional office landlords are compelled to adapt.

The sustained demand for managed office solutions not only reflects shifting workplace preferences but also signals a lasting transformation in commercial real estate dynamics.

As the sector matures, its influence on urban development and property values is likely to deepen, reinforcing its role as a key driver in the future of work.

Authored by Shesh Rao Paplikar, Founder and CEO of Bhive Group

Shesh Rao Paplikar is the Founder & CEO of BHIVE Group, home to BHIVE Workspace, one of Bengaluru’s biggest managed office space providers that has offices at 26 prime locations in the city with a total of 1.8 million sq. ft in space and over 44,000 seats.

Shesh completed his BE in Computer Engineering from NITK, Surathkal, and started his first company while still a student at NITK. Later, he worked in the technology field for 11 years on Wall Street, New York before starting BHIVE in 2014.

Having worked in startups and companies of varied sizes and cultures, Shesh brings this perspective and experience from his background to provide an exceptional working experience to the clients at BHIVE.

Shesh has been instrumental in building the BHIVE Group, consisting of BHIVE Workspace and BHIVE Capital. While the Workspace wing with 26+ centers across Bengaluru makes over 250 crores annually, BHIVE Capital, the finance wing, have done 200+ crores of business in 2 years.

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The Karnataka Municipalities and Certain Other Law (Amendment) Bill, 2024, and the Karnataka Irrigation (Amendment) Bill are designed to hold officials accountable for lapses in property tax collection and curb water theft from irrigation canals.

The Karnataka Municipalities Bill, presented by Urban Development Minister BS Suresh (Byrathi), proposes fines of up to Rs 50,000 and a 15-day imprisonment for officials who fail to collect property tax dues.

“Any officer or employee of the municipality who fails to collect property tax dues under the assessment of property tax or any financial causes to the municipality shall be fined up to Rs 50,000 in each case and may also be punished with simple imprisonment for 15 days,” the bill states.

The bill also empowers municipalities to levy property tax on unauthorized buildings at double the rate for the first year. However, buildings illegally erected on government land or controlled by local bodies or government organizations are exempt from property tax.

Penalties have been introduced for officials who issue property identification numbers or khata for unlawfully formed plots and buildings.

The bill allows municipalities to levy and collect property tax from buildings constructed in violation of building bylaws or in unauthorized layouts.

These properties will be taxed at double the rate for the first year, with only the property tax being levied in subsequent years. However, the collection of property tax “does not confer any right to regularize the violation made, or title, ownership or legal status to such building or vacant land.”

The second bill, introduced by Water Resources Minister DK Shivakumar, seeks to increase the penalty for water theft to Rs 2 lakh from Rs 1,000 and the imprisonment term to two years from one year.

It defines violations such as piercing or cutting canals or pipes, inserting a pipe by piercing or cutting a canal, or installing a machine or any other equipment in the canal that causes damage to its stability or safety.

Users of irrigation water who intend to drill or dig wells or create storage ponds within 500 meters of a canal must seek government permission.

Existing groundwater users within this proximity to lift irrigation systems or canals have six months to register their operations under the new guidelines.

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Vijay Chaudhary, chairman, Ram Rattan Group & Dalmia Ram Rattan 

In recent years, farmland has increasingly caught the attention of investors seeking stable, long-term investments. This trend is driven by a variety of factors such as environmental and Social Impact, diversification benefits farmland offers, and its potential for value appreciation.

According to an IBEF report, the Indian agriculture sector witnessed a major rise in investments between April 2000 and December 2022, thanks to a total foreign direct investment inflow worth USD 2,708.72 million. In this article, we will explore in depth the reasons why investors are increasingly turning to farmland as a stable, long-term investment- 

Diversification and Stability

Farmland investments offer diversification benefits that are attractive to investors. Traditional investment portfolios are typically composed of stocks, bonds, and real estate. Farmland, however, is often less correlated with these asset classes, providing a buffer against market volatility.

During periods of economic instability or stock market fluctuations, farmland tends to maintain its value or even appreciate, making it a reliable hedge against inflation and economic uncertainty.

Moreover, farmland is a tangible asset. Unlike stocks or bonds, it cannot be easily manipulated or devalued by market sentiment or corporate mismanagement. Its intrinsic value is tied to its productive capacity and the land itself, offering a sense of security to investors.

Appreciating Asset 

Farmland appreciation is driven by economic factors such as inflation hedging, tax benefits, and income diversification. As an inflation hedge, farmland retains value and often outpaces inflation, protecting investors’ purchasing power. Tax advantages, including deductions for depreciation and property taxes, enhance returns.

Moreover, global food security concerns and trade dynamics boost demand, while government subsidies and incentives support agricultural investments, ensuring steady income and long-term growth potential for investors. 

Environmental and Social Impact

Investing in farmland also aligns with growing environmental and social consciousness among investors. Sustainable farming practices contribute to environmental preservation, soil health, and biodiversity.

Investors are increasingly aware of the importance of supporting sustainable agriculture to combat climate change and ensure long-term food security. This alignment with environmental and social goals can enhance the appeal of farmland as an investment.

Conclusion:

Farmland as an investment offers a unique combination of stability, diversification, and potential for appreciation. The consistent demand for food, limited supply of arable land, and advancements in agricultural technology make farmland a valuable asset in any investment portfolio.

Additionally, the environmental and social benefits of supporting sustainable agriculture align with the values of many modern investors. As global food demand continues to rise and the world grapples with climate change and resource scarcity, farmland is poised to remain a stable and lucrative long-term investment option. 

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Mr. Gaurav Mavi, Co-founder of BOP Group.

Questionnaire – 

1) Please share a brief on Gaur World Smart Street and BOP partnership.

For those unaware of the partnership, at BOP — we have been focused upon quality real estate consultancy since inception and this collab is a step forward on the same value quotient. The Gaur World Smart Street is a ‘one-of-a-kind’ commercial real estate project developed by the Gaurs Group, located in Greater Noida. This venture marks a collaboration between Gaurs Group and BOP, two prominent players in the real estate industry. As partners, we aim to redefine the commercial real estate scene in the region by offering a unique investment opportunity under the Gaur World Smart Street scheme.

2) Can you share the brief details and highlight the USPs of this plan?

One thing I can tell you is that it is an incredible scheme for anyone looking to invest in real estate and make a secondary income out of the same. The investment plan under the Gaur World Smart Street scheme offers investors a rare opportunity for guaranteed income over a remarkable tenure of 9 years. One of the key highlights of this plan is its focus on long-term sustainability, providing investors with stable and consistent returns. Additionally, investors benefit from an assured amount during the first three years, followed by a booster plan for the subsequent six years. This extended tenure of guaranteed returns sets this plan apart from others in the market, ensuring financial security and profitability for investors.

3) What type of investors do you think can invest in this plan and what type of investors would this plan be most beneficial for?

This investment plan is suitable for a wide range of investors, including individuals, families, and even businesses looking to grow and expand upon their investment portfolio. With this, we aim to cater to those seeking a secondary income stream with the assurance of stable returns over a longer period. This plan is particularly beneficial for investors who prioritize financial security and are seeking a reliable source of income over the long term.

4) Do you anticipate this unique guaranteed income plan to set a new trend in India’s real estate market, particularly for commercial space investments?

We are highly optimistic about it, that’s for sure! This is because of the belief that the innovative features and long-term sustainability of this guaranteed income plan have the potential to set a new trend in India’s real estate market, especially in the rounds of commercial space investments. The crux of offering investors a stable and consistent income stream over a substantial tenure, makes this plan aptly poised to address the growing demand for alternative sources of income and provides a secure investment option in the commercial real estate sector.

5) How is this investment plan different from other investment plans available in the market?

What sets this investment plan apart is its unparalleled tenure of guaranteed returns spanning 9 years. Unlike traditional short-term investment plans, this scheme offers investors a longer horizon for stable income generation. Additionally, the assurance of returns during the initial three years, followed by a booster plan for the subsequent six years, adds another layer of security and profitability, distinguishing it from other investment options available in the market.

6) What are the future plans and growth opportunities for BOP in the next financial year?

We are excited about what the future holds for us in the times to come. We want to convey to everyone that BOP is focused upon continued growth and expansion in the real estate consultancy vector. In the next financial year, we aim to further strengthen our presence in the market by introducing innovative investment opportunities and entering into strategic partnerships with key players from the real estate sector.

Our focus remains on delivering value to investors and clients while staying at the helm of industry trends and developments. We are optimistic about the growth prospects for BOP and look forward to seizing new opportunities for success in the coming year.

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Mr. Aman Sharma, Managing Director of Aarize Group

In the thriving commercial real estate dynamics of Delhi-NCR, Dwarka Expressway has evolved as a hot-button name, catching the attention of both investors and property buyers.

In the growth story of Gurugram’s development, this 29-km-long stretch has set a significant milestone in fueling the economic growth of the region, opening the gateway of opportunities for commercial activities.

Hinging on easier traffic between the national capital and Gurugram, accessibility to IGI Airport, and major business districts around, Dwarka Expressway has become the most sought-after micro-market of the National Capital Region for investment destination and commercial bustling.

After its inauguration by the honorable Prime Minister Narendra Modi, this expressway region heralds a new era of holistic development for the real estate market, creating a dynamic ecosystem for business, commercial operations, logistics hubs, shopping malls, and vibrant office complexes. This remarkable boom has resulted in capital appreciation and upward rental yields, making the area conducive for investments.

Dwarka Expressway has witnessed a surge in demand for commercial activities. The area has become a paradise for partygoers, shopaholics, and commercial operations with the overwhelming presence of malls-retail chains, high-end F&B outlets, shopping arcades, and entertainment zones, among others.

It has perked up the prices of properties, including residential, commercial, and industrial. According to 99 acres, Dwarka Expressway has seen a significant surge of 25 percent with a price hike from Rs 11,100 per sq. ft. to Rs 13, 250 per sq. ft. in the last year.

With Gurugram turning into a business hub, its neighboring areas, including Dwarka Expressway, are also following close to its heels. The Millennium City, according to a Knight Frank report, witnessed an extraordinary soar of 58 percent in office space transactions in 2023, zooming past from 13.2 million square feet in 2022 to a massive 20.8m square feet.

This phenomenal growth highlights the market opportunity of real estate in Gurugram and its surrounding areas. This phenomenal growth highlights the market opportunity of real estate in Gurugram and its surrounding areas.

The key factor behind Dwarka Expressway shaping up India’s next business hub is its strategic location. The proximity to the national capital makes this region a standout choice for professional and commercial activities.

Excellent connectivity through expressway and metro, pleasant environment, and sustainable construction fitted with state-of-the-art technologies have increased its appeal.

Sensing the market potential of these areas, top-notch developers and builders have capitalized on its business dynamics by setting up swanky commercial and expensive office complexes.

The influx of budding startups, multinational office spaces, and modern healthcare centers have propelled the Dwarka Expressway region into an employment and business hub.

The sectors along with Dwarka Expressway encompass commercial, retail, and residential hubs, harboring relatively peaceful neighborhoods with less traffic congestion in comparison with other significant parts of the NCR.

The Dwarka Expressway is heading to a robust hotspot, and it has come a long way in establishing itself as the crown jewel of Delhi-NCR’s real estate, attracting multiple business opportunities and commercial footfalls.

With an emphasis on sustainable development, excellent infrastructure, and strategic location, Dwarka Expressway stands as a strong competitor to established commercial complexes across the country.

It is going to be a game changer in driving the economic growth of the country as the region evolves, constantly positioning itself as a major player globally.

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01^st May 2024, New Delhi: Max Estates Limited, the real estate arm of the Max Group, today announced a strategic investment of INR 388 Crore from New York Life Insurance Company, America’s largest mutual life insurer[1].

Upon the transaction’s close, New York Life will acquire 49% stakes in two SPVs of Max Estates that hold Max Towers and Max House (Phase I & II). Both are rent yielding operational commercial real estate projects located in Noida and Delhi, respectively. Max Estates will hold 51 % in the two SPVs after the transactions are concluded.

Max Estates will use a bulk of these funds to finance its expansion into the high – growth residential market and to capitalise on market opportunities.

This strategic investment will further enable Max Estates to deliver on its aspired growth trajectory of acquiring at least 2 million square feet of development opportunity every year and redefine the future of residential and commercial real estate in the NCR.

Max Estates believes that this latest round of strategic investment by New York Life is an affirmation that Max Estates has the ability to execute at scale bringing real well-being to real estate in India.

New York Life owns 22.67% share in the listed entity – Max Estates. It also owns 49% stakes in Max Estates’ new commercial projects in Delhi-NCR.

It includes Max Square, which is already operational on Noida Expressway in Noida; and two under construction projects Max Square Two located adjacent to Max Square and a project located on main Golf Course Extension Road, Gurugram.

Commenting on this development, Sahil Vachani, VC & MD of Max Estates said, “We are excited to announce that our ever-growing partnership with New York Life Insurance is even stronger now. This collaboration further strengthens Max Estates’ financial capacity to deliver world-class commercial and residential projects in Delhi-NCR and ensures a balanced approach to capital structure to fund company’s growth trajectory. 

It signifies continued confidence from institutional investors in the growth potential of the company and its ability to unlock significant value for all stakeholders with right market-product combination in the real estate sector in India.’’

With a proven track record of delivering world-class commercial and residential properties, Max Estates has established itself as a leading player in the Indian real estate landscape with focus on Delhi NCR. The Company has completed a full cycle from investment to part monetization, showcasing its ability to raise capital and monetize rent-yielding assets.

About Max Estates Limited:

Established in 2016, Max Estates Limited is the real estate arm of the Max Group. With the purpose of ‘Enhancing Quality of Life through spaces it creates’, it has chosen to create premium commercial and residential spaces in Delhi NCR.

The company has developed a very well diversified portfolio of real estate across the two asset classes in Delhi NCR and in this pursuit has partnered with New York Life Insurance Company (NYL) particularly for commercial office platform.

Its marquee projects include a one-of-its-kind commercial office space Max Towers, on the edge of South Delhi that opened its doors in 2019, Max House – a re-development of office campus, Max Square, located on a primary office vector – Noida Expressway and, 222 Rajpur, a luxury residential villa community on Rajpur Road, Dehradun.

It has two under construction commercial office projects – Max Square Two, adjacent to Max Square and a project located on main Golf Course Extension Road marking its entry in commercial office segment in Gurgaon.

On the residential front, the company has successfully launched and sold its first project in Delhi NCR in CY 2023, Estate 128, which is being developed in Noida and second project is to be launched in first half of CY 2024 in Gurugram. Max Estates also has a real estate services & management company – Max Asset Services. Max Estates Limited is listed on NSE and BSE.

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The official further stated that the promoter received a show-cause notice from the government after it took serious notice of the advertisement that was published in an English daily on March 2.

In a formal statement, the authority noted that the promoter had failed to properly describe the details in the advertisement, in violation of Section 61 of the Real Estate (Regulation and Development) Act of 2016, despite mandatory provisions under Sections 11(2) and 13(1) of the Act.

“It is undeniably true that the promoter, Countrywide Promoters Pvt Ltd, published a deceptive advertisement in an attempt to prevent potential allottees from making an informed decision. Accordingly, under Section 61 of the Act 2016, the Authority today imposes a penalty in the sum of Rs 50 lakh,” the judgment stated.

One full page of the advertisement features a picture of a garden/park called Garden of Dreams, but the other page features an image of a club that isn’t related to the project.

“However, the remaining portion of the advertisement highlights features like a squash court, a cutting-edge club house, a covered pool and spa, an outdoor library, revitalizing sculpted rocks, a coffee lounge counter, and other amenities that are obviously not included in the project. All of it is deceptive,” the directive stated.

Under the Deen Dayal Jan Awas Yojna Affordable planned Housing Policy 2016, Countrywide Promoters Private Limited is building Green Oaks, an affordable planned colony in Sector 70-A, Gurugram. In 2021, the developer registered the project with RERA.

It is quite evident that the promoter has released a deceptive advertisement for a DDJAY planned colony, using seductive imagery to give the impression that the project includes a clubhouse and other amenities that are not actually included.

“Section 7(1)(A)(i) is violated in this case. The order stated that “no specifics, data, or illustrations of the project’s actual layout or site plan have been provided to enable the potential allottee to decide upon investing in the project.”
HRERA further stated that the promoter was unable to have the registration details updated in accordance with the new style.

The project began in 2021, and in 2023 the layout plan underwent revisions.

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The Income-tax (I-T) Act’s section 54-F, which deals with long-term capital gains, states that a spouse who co-owns an asset and then sells it and reinvests the earnings in another apartment will not be ineligible for tax benefits under this section.

If a taxpayer sells any asset (other than real estate) and makes long-term capital gains, they can invest the net sale proceeds in residential real estate and avoid paying capital gains tax. The amount of the exemption is based on the money spent on the new home. The exemption is proportionate if the amount invested is less than the net sale consideration.

Certain requirements must be satisfied to claim this exemption. One of them is that on the date of the original asset’s sale, the taxpayer cannot be the owner of more than one residential property (apart from the new home in which the investment is being made).

The ITAT recently ruled in the S. Singh case that a taxpayer’s ability to claim a deduction under section 54F of the Income-tax (I-T) Act is not impaired by joint ownership of two residential properties at the time of the sale of the original asset.

In this instance, the taxpayer made long-term capital gains of Rs. 61.6 lakh during the 2012–13 fiscal year by selling agricultural land in Bhopal, which was the initial asset. She sought an exemption under section 54F since she invested in a new home within the allotted time.

When her case was examined, information provided by her revealed that, as of the land’s selling date, she was the owner of two residential homes. She held both properties jointly—one with her spouse and the other with the HUF of her father. The I-T officer rejected her claim of a deduction of Rs. 61.6 lakh since she owned multiple houses.

Singh said that she and her husband jointly owned the residential property on which they were living and that her husband was repaying the debt. Regarding ownership of the HUF-held property, she reiterated that she was only a co-owner at the time the agricultural land was sold.

Despite the existence of conflicting high court rulings, the ITAT maintained that the Supreme Court had established the rule that, in cases where two opinions are feasible, the one that is more advantageous to the taxpayer must be chosen. Singh was therefore permitted to receive this tax benefit, it was decided.

This is a controversial topic, according to Amarpal Singh-Chadha, tax partner at EY-India. “I-T authorities may not allow the deduction claimed by a taxpayer given that there are also contrary rulings on the matter, such as that of the Karnataka high court.”

Taxpayers in a comparable circumstance who are under the jurisdiction of a jurisdictional body or court that is holding a favorable view may rely on the favorable decision to support their claim, he recommends.

Additionally, taxpayers should be completely transparent in both their tax returns and their responses to tax letters to reduce the possibility of penalties.

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• Resort homes near Mumbai witness an uptick in demand, post-infrastructural boost
•  Holiday Homes market growing at a rate of 23.6%: Research

The travel bug has caught the imagination of the Indian people and we are seeing the highest figures recorded ever, in the last two to three years. Domestic tourism is seeing a steep growth trajectory as compared to foreign tourism. Travel entails huge costs and now people have realized that hotel stays contribute to a major portion of these costs. Investing in a Resort Home is a new trend that is fast catching the attention of people, where you earn attractive and regular monthly rental income from your property, with zero maintenance, and at the same time also enjoy a vacation at your resort home during the year.

Several factors have contributed to this trend of letting your home earn for you. The new generation of Indians are looking at investments that give the highest returns in the shortest time frame, whilst they can still enjoy a vacation with the family; that too, a paid one.

Further elaborating on this concept Dr. Sachin Chopda, Managing Director, Pushpam Group said, “We have been running a campaign which we have aptly coined “Kamanewala Ghar” – which means a house that earns for you. This allows the investor to retain ownership of his property, and earn attractive returns with zero maintenance cost, in addition to holidaying at the resort for a certain number of days in a year. So, in short, he is on a perpetual holiday with absolutely no cost to him. Most importantly, this property becomes an asset to him as it appreciates over some time. So, maybe after a few years down the line, if he decides to sell it, he stands to earn huge profits from the sale.”

India’s second & holiday homes once believed to be trophy assets for the selected few, are now increasingly becoming mainstream. The market is presently sized north of USD 2.1 billion and is growing at a commendable rate of 23.6%, as per recent research.

Investment in a resort home is a pragmatic decision that an investor makes as it offers assured and significant returns in the short and long term. Most resort homes are low-cost investments but with high appreciation value. These resort homes are professionally managed wherein the investor has no maintenance cost to bear, but only stands to gain from his investment, from day one; with benefits accrued, over some time.

Tourism in India has got a major boost due to several large infrastructure projects that have improved connectivity within the country. This has resulted in people not hesitating to enjoy a holiday or even invest in a resort home of their liking, as they can now travel much faster and with greater ease, to reach their holiday destination.

Beach tourism is the most popular among places visited by tourists across the world. For people living in Mumbai and Pune, Alibaug is panning out to be the most sought-after holiday destination for a short weekend break. It is popular as it is situated on the scenic Konkan coastal town of Alibaug; just a few hours’ drive from Mumbai and ninety minutes’ drive from the upcoming Navi Mumbai International Airport. The inauguration of the Mumbai Trans Harbour Link (MTHL) is having a significant impact on the investment landscape for resort homes in Alibaug. This 22 km-long sea bridge has dramatically shortened the travel time between Mumbai and Alibaug by about 45 minutes, making it a highly attractive investment destination.

Pushpam Group, a major player in resort homes, is developing a resort home in Alibaug named Balibaug. It is being designed, inspired by Bali’s temples and palace architecture. This resort will consist of 2 &3 BHK luxury villas with private pools and gardens, open showers, terrace Jacuzzi, international standard interiors, sloping roofs, decorative crowns, and other Balinese elements. In addition, the resort will have 20 plus amenities like 3 restaurants, a spa, a banquet hall, a party lawn, a gym, etc. The resort will employ green practices like a rainwater harvesting system, and EV Charging station in addition to a Wi-Fi facility and generation backup for its residents.

In conclusion, we can safely conclude that an investment in a resort home is a rational one, looking at the immense potential that it provides to investors and home buyers alike, over the years ahead.

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