ASK Curated Luxury Asset Fund I invests Rs 63 crore with Goa-based developer

New Delhi: ASK Curated Luxury Asset Fund I, a luxury-focused real estate investment platform co-sponsored by India Sotheby’s International Realty and ASK Property Fund, has invested Rs 63 crore with Goa-based developer Priority Group for an ultra-luxury villa development, Ananda Nilaya, in Arpora, North Goa.

The project featuring 28 villas, has a revenue potential of Rs 360 crore and is being designed by Stapati.

“Goa has evolved into one of India’s most aspirational luxury second-home markets, attracting discerning buyers from across the country,” said Amit Bhagat, Co-Founder, CEO & MD, ASK Property Fund.


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Spread across 5.12 acres, Ananda Nilaya is a premium hillside villa project overlooking the sea, located just 2 km from Baga Beach and well connected to both Mopa International Airport and Dabolim Airport.

The project will have an 18,000 square feet clubhouse, keeping in mind the growing demand for luxury second homes and experiential living destinations in Goa.

“This project is at one of Goa’s most desirable destinations, offering unmatched views and a highly curated living experience,” said Amit Goyal, MD, India Sotheby’s International Realty, the co-sponsors of ASK CLAF1.

Goa’s second-home market is witnessing growing demand and this is one of the first major institutional capital commitments to the state’s luxury residential segment.

Priority Group, founded by Parind Nachinolcar and Swapneel Nachinolcar, entered the Goa real estate market in 2007 and has since delivered approximately 3 lakh sq. ft. across 16 projects, while currently developing another 5 lakh square feet of residential projects.

The development will also explore strategic tie-ups with hospitality and lifestyle brands for clubhouse operations, villa management and leasing services, creating a ROI-driven proposition for luxury homebuyers seeking both lifestyle and managed rental income opportunities.

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“Institutional capital investing with us is a testimony to our governance standards and delivery orientation over the years. Ananda Nilaya is a unique hilltop development overlooking the sea in Arpora,“ said Parind Nachinolcar, Managing Director, Priority Group.

ASK Property Fund has raised Rs 9,100 crores (US$ 1.3 Bn based on exchange rate at the time of each investment) since 2009 and has invested in projects spanning 70 mn sq ft mainly in MMR, NCR, Bangalore, Pune and Chennai. Its investors include Family Offices, Ultra High Net Worth Individuals (UHNIs), High Net Worth Individuals (HNIs) and Institutions.

ASK Curated Luxury Assets Fund-I has recently set up a Rs 500 crore equity platform jointly with Amavi by Clarks, a new branded residences venture backed by the promoters of Clarks Group of Hotels and Brij Hotels.

The fund will invest exclusively in high-end residential developments in major cities, holiday homes, and second-home destinations—including religious and spiritual hubs.

ASK CLAF I, registered with Sebi as a Category II, is a partnership between ASK Property Fund as the investment manager and sponsor, and India Sotheby’s International Realty, the cosponsor and real estate advisor. The fund aims to raise up to Rs 1,500 crore, including a green shoe option of Rs 500 crore.