Aranayam- offering luxury villas in Assagao of Goa

1. Why did you not choose a tier I city but Goa to launch your first real estate project? Also, how much was the investment in building Amayah?

Goa was our unequivocal choice for our inaugural luxury residential project because it epitomises the perfect fusion of natural beauty, cultural richness and potential for sustainable luxury development. Goa, with its serene landscapes and vibrant culture, aligns closely with our vision of offering conscious luxury holiday homes. Our over arching theme for development is Vacation homes wherein we can provide a sanctum for the discerning few and let them live life at their pace. We can confidently say that we specialize in providing exceptional holiday home experience in an environment where luxury seamlessly intertwines with sustainability.

The investment in constructing Amayah amounted to approx 3.5 to 4 Mn USD which reflects our intent and commitment to creating a remarkable, environmentally responsible retreat that harmonises with its surroundings. In doing so, we believe we're not just building homes; we're crafting immersive experiences that resonate with our client’s desire for conscious luxury.

2. With the price of real estate not appreciating enough in the tier-i cities, do you think buyers will consider buying real estate in the tier-ii and iii cities?

Absolutely, the evolving real estate landscape is shifting buyers' focus towards tier-II and III cities for reasons beyond property appreciation. With limited appreciation in tier-I cities and the need for more sustainable and open spaces, investors and homebuyers alike are now exploring these emerging markets. Goa and other leisure destinations have become the melting pots for vibrant culture, people coming from different walks of life, prioritizing quality of life than anything else. These locations offer verdant landscapes, offer a pause in time and a healthier, more sustainable lifestyle. Buyers are now prioritising factors like open green areas, cleaner environments and a better work-life balance, which are often more accessible in these regions. The promising lifestyle factors emphasising on overall well-being and quality of life and potential for growth in these areas make them attractive options for real estate investments. As a result, we believe that buyers will continue to consider and invest in tier-II and III cities as they offer a blend of great eco living and future growth potential.

3. According to you, how much can a property appreciate in Goa in the next five years? Kindly specify reasons for the same.

We anticipate property appreciation in Goa to be in the range of 15-20% CAGR over the next five years. Several factors contribute to this positive projection, including a burgeoning tourism sector, ongoing infrastructure development, and the growing demand for conscious luxury properties, growing popularity and connectivity of the new international airport. Goa's unique blend of natural beauty and cultural richness continues to attract both domestic and international travellers, driving investment in the real estate market. And from a pure commercial standpoint, the great short term rental yields are driving the prices for the residential real estate sector in Goa. Villas and homestays are gaining much more popularity and people prefer to stay in a cosy setting than in hotels.

4. What is the future of holiday homes? Will this concept boom in other leisure regions like Pondicherry as well?

The future of holiday homes is exceptionally promising. The concept of conscious luxury in scenic locations, exemplified by properties like ours in Goa, is resonating with travellers seeking unique, culturally immersive experiences. We believe this trend will extend to other leisure regions, such as Pondicherry, where a rich cultural appeal and the demand for eco-conscious options create fertile ground for growth. All such exotic destinations have the potential to create a niche for themselves and attract a certain set of audience. One of the main driving factors behind development of any destination remains the ease of access and connectivity. Travellers increasingly yearn for meaningful, personalised escapes that connect them with local culture and nature, and we are dedicated to expanding our presence in such destinations to meet this growing demand for conscious luxury in holiday homes.

5. How many villas have you already sold and what are your future plans?

Owing to our vision, the design prowess of our teams and the execution excellence, we are completely sold out in our inaugural project, Amayah! Our future plans are centred on expanding our footprint in prime leisure destinations, with a strong focus on sustainable luxury developments. We are committed to curating more immersive, conscious luxury experiences for our patrons and establishing our presence in regions that share the same ethos of environmentally responsible, culturally rich and opulent holiday home offerings. From sprawling villas in Assagao to lavish condominiums in Anjuna Assagao to magnum opus estates in Mandrem, these undertakings under the brand Aranayam will redefine opulence, promising a lifestyle that seamlessly merges sophistication with the tropical charm of the region. Ranging from a built up area of 25000 sq. ft to 1,50,000 Sq.ft, these grand projects will stand as testaments to the evolving aspirations of those seeking not just residences, but sanctuaries of elegance.

6. What is the trend in real estate for 2024?

We are quite bullish on the holiday home prospects in 2024. Various reports suggest that the property market in India will exhibit a CAGR of 9.2% during the period between 2023 and 2028. Projected growth by 2030 for the sector is USD 1 trillion. Luxury residential real estate continues to grow by leaps and bounds and despite the headwinds in the global markets, the domestic consumption story remains strong. Taxation benefits due to IPOs and returns from bullish share markets will continue to contribute significantly in discretionary spending in the luxury residential market. Buyers are increasingly valuing properties that incorporate environmentally responsible design and energy efficiency. Additionally, the integration of smart home technology is set to play a significant role, enhancing convenience and reducing energy consumption. The focus will be on creating living spaces that not only offer comfort but also contribute positively to the environment. We're poised to lead this trend with our commitment to conscious luxury developments, aligning with the growing demand for sustainable, innovative and digitally integrated real estate solutions.