All about the Alibaug second home market and Virat Kohli's recently constructed vacation home

By Bricksnwall | 2024-07-14

Virat Kohli posted a photo of his Alibaug house on social media. Here are some things to consider if you intend to purchase a second residence in the region.

The recently finished vacation house in Alibaug, a seaside hamlet south of Mumbai, has been shared through social media by former Indian captain Virat Kohli on X and Instagram. Here's a peek at Alibaug, a popular second home real estate investment location for many extremely wealthy people, including corporate titans, Bollywood stars, Indian non-residents, and athletes.

 In a post on X, Kohli expressed gratitude to the entire Avas team for transforming their dream house into a reality. The post included a video that showed the 12-month construction process.

The newly constructed vacation home is situated in Alibaug's Awas Living, a gated community featuring a health centre and spa in addition to a small number of villas.

Aditya Kilachand launched Awas Wellness, which has investors that include well-known figures like Adar Poonawalla and Gaurav Kapur.

"After hearing the plan, I realised how special the project is on its own. In the video, Kohli stated, "You have access to all the amenities you would need in a vacation home, along with your own privacy and a sense of community." He is heard characterising the interiors of the property as "subtle and classy," adding that the villa's Californian Konkan construction allows for an abundance of natural light.

For this project, Avas Wellness collaborated with South African architecture company SAOTA and designer Sussanne Khan.

16 completely equipped, three to five bedroom villas with a carpet area of 3,000 to 5,000 square feet each are part of the Avas project, according to Shahzad Dastoor, Business Head, Avas Wellness. Since the project's introduction in November 2022, about 15 of the 16 units have been sold for between ₹10 and ₹14 crore each, he continued.

Avas Wellness will oversee and maintain these villas.

There are more projects in the neighbourhood such as Kensington Villas, Aditya Mangaldas, Palmore, and Isprava villas.

Actor Ram Kapoor, businesswoman Rita Kapoor, and Axis Bank MD and CEO Amitabh Chaudhry are now reportedly among Kohli's neighbours as a result of this acquisition.

Alibaug: land costs, real estate values, and additional

Local brokers say that depending on the area, land prices in Alibaug's real estate market can range from ₹3,000 to ₹15,000 per square foot. They also mentioned that value appreciation in the coastal town averages between 12% to 15% annually, while rental yields typically stay around 5% to 6%.

Plots, flats and villas are just a few of the options available to potential property buyers and investors in Alibaug, all of which fall into different price ranges.

Source: HindustanTime