Sahara group to launch luxury clubs with membership fees upto Rs 30 crore
Aug 09, 2013
Source : The Economic Times

 

DELHI: The Sahara group is planning to launch clubs with membership costing Rs 1.5 crore to as much as Rs 30 crore, price tags that will be justified at the higher end by ownership of premium residential properties thrown into the package.

The group is planning to launch this chain of clubs in India as well as overseas under a different brand name, a person familiar with the development said, adding that the members paying more than Rs 5 crore will also get to own apartments, penthouses or villas. The club network will include the Lucknow-based group's flagship properties such as Aamby Valley and Sahara Star hotel in Mumbai along with its international hotels, Grosvenor House in London and The Plaza in New York.

Most of the 20-odd clubs being planned will be housed on large land parcels so that luxury properties can be offered along with the membership, the person said, while the clubs coming up in city centres will offer just the club membership. The hefty fees will also give the members the option of taking a holiday at any of the network's locations for a certain number of days in a year, the person added. Sahara did not respond to a detailed email questionnaire sent by ET.

The group has been working on this venture for the past one year, the person said. The company is on the lookout for land parcels of at least 100 acre each on the outskirts of cities including Bangalore, Chennai, Hyderabad, Jaipur and Chandigarh, the person said, adding that it already had a large land parcel on the border of Delhi and Gurgaon close to NH8 that could be used for the purpose.

These clubs and properties are aimed at the growing numbers of high networth individuals and families. According a report by Kotak Wealth Management and Crisil Research, the number of high net worth families is set to triple from the current 1,00,000 over the next five years and about 46% of these will be residing in non-metro cities. The club culture is well entrenched is most cities across the country, especially in tier-II cities, while in Delhi and Mumbai, membership of some of the most premium clubs such as the Gymkhana Club and Breach Candy Club entails a waiting period of 15 to 30 years.

 

Latest Realty News

CREDAI plans to move court against NGT sand mining ban
Aug 09, 2013
DELHI: Describing the National Green tribunal (NGT) populist ban in sand mining as arbitrary and anti growth , developer’s apex body CREDAI Chairman Lalit Kumar Jain, today indicated that the developer community is considering appropriate legal options to challenge the order. The nationwide stay on sand mining from river beds by the NGT adds to the ever increasing burden on the real estate industry.
Development work in 133 illegal Delhi colonies approved
Aug 09, 2013
DELHI: The Delhi government on August 7 granted permission for carrying out development works in 133 unauthorized colonies with immediate effect.
Green panel notices on concretization in Ghaziabad
Aug 09, 2013
DELHI: The National Green Tribunal on August 5 issued notices to the Union urban development ministry, the Ghaziabad Development Authority (GDA) and Ghaziabad Municipal Corporation taking cognizance of mindless concretization in urban areas which is significantly reducing the green cover in the city.
Reliance Industries Ltd to go slow on 720,000-sq-ft Alaknanda mall following strong protests
Aug 08, 2013
DELHI: Reliance Industries Ltd (RIL), the country's largest privately owned company, has decided to go slow on its plans of constructing a gigantic 720,000 sq ft mall in a residential colony in south Delhi, following protests from an assorted group of upper middle class professionals who live there.
DDA to allow construction of houses in industrial areas
Aug 08, 2013
DELHI: The Delhi Development Authority may soon allow construction of residential homes in areas earmarked for industrial units, a move that could help ease the national capital's housing supply pressure.
Industrial colony on de-notified SEZs in Gurgaon
Aug 07, 2013
DELHI: The special dispensation for de-notified SEZs in Haryana to become eligible for developing industrial colony has evoked mixed response. The developers want single window clearance for the licences but real estate insiders claimed it would not be a cake-walk.
Steps to take if a tenant refuses to vacate
Aug 06, 2013
DELHI: When it comes to the relationship between a property owner and a tenant, it’s best to be safe than sorry. Yet, hasty decisions, cutting corners and blindly trusting brokers are the reasons for many a legal battle waged by landowners against rogue tenants. Take the case of Mumbai-based Merlyn D’Souza.
CII’s REALTY 2013: 9th International Conference on Real Estate
Aug 06, 2013
DELHI: “Real Estate has emerged as an increasingly strategic domain that influences various strata of society” said Dr Girija Vyas, Hon’ble Minister of Housing and Urban Poverty Alleviation, Govt of India at CII’s REALTY 2013 – 9th edition of Real Estate Conference today in New Delhi.
Unitech group's UCP gets bids up to Rs 2,700cr for Gurgaon SEZ
Aug 06, 2013
DELHI: Unitech BSE -3.17 % Corporate Parks, a Unitech group firm listed in London, has received bids of up to Rs 2,700 crore from six companies, including Blackstone, for sale of its IT Special economic Zone (SEZ) in Gurgaon.
Competition Commission of India rules out abuse of dominance by realty firm BPTP
Aug 06, 2013
DELHI: Fair trade regulator CCI has dismissed allegations of abuse of dominant market position against realty firm BPTP over residential flats in Faridabad.

Latest Realty News Of State

Realty Talk's