10-03-2022

Golf has probably been one of the most elite sports in India. The rich history of golf in India has been existing since the 19th century and ours was distinctively the second only country to host a golf club during those days. Golfing these days is considered to be an aspirational sport which once was a ‘sport of kings’. The demand for developing a golf course these days is rising exponentially as the real estate players are avidly pursuing this growing trend. As a matter of social stature, most of the people in the HNI category are taking up memberships in the golf clubs and the amount for such memberships is on a higher side. This article would elaborate on the concept of ‘Golf Homes’ and how real estate developers are catching up with the demand for such homes.

The Space Tally

The urban land parcel is facing a dearth of space and the demand is ever-growing along with the price. Be it for residential or commercial purposes, developing a golf course requires a real estate player to dedicate a sizeable land parcel for such lucrative formats.

Basically, a golf course requires 4 to 7 acres of space. If the developer plans to set up a 3-hole course and driving range, it requires at least 8 to 12 acres of space. The developer would need a land parcel somewhere between 15 to 30 acres for a 6 to a 9-hole executive golf course and close to 75 acres for a full-fledged 18-hole golf course. If the real estate developer is planning to create an international standard championship golf course, then the requirement jumps to approximately 120 acres of intricately well-crafted and well-developed land.

The rising popularity of the newest club

Suddenly, there’s an uptick in the rising number of golf course communities gaining popularity in India. Mostly, it is not related to the game, but buildings beside the golf course offer a great view and for those who love to play the game, these homes are a blessing. Usually, the real estate developers bet heavily on the experience and that’s the reason they bring in the most celebrated golf course designers to design the entire layout. It’s a global phenomenon that golf course homes are in such high demand. Not just in India, but even overseas, the concept is an uber-cool way to flaunt the status quo.

Living in a luxury apartment has become a passé. Projects with clichéd amenities such as a clubhouse, swimming pool, landscaped garden and multipurpose court are no longer at the center stage. People demand something unique and something that has a long-lasting memory and ‘golf homes’ are the in-thing these days and that’s one way to go ‘pro’.

At ‘par’ with an ‘upgraded lifestyle’

People these days are looking forward to living an upgraded life. They are moving from 1 BHK to 2 BHk and 2 BHK to 3 BHK, and so on. In such conditions, the introduction of ‘golf homes’. The demand for this newfound category has seen the potential, both from the investors as well as customers. While the customers enjoy an upgraded lifestyle, investors view such projects as lucrative from the rental perspective. These projects offer the ‘golf-view’ as their USP and remain high in demand. There will be usually 3 & 4 BHK configurations that would offer the ‘golf homes’ when we talk about upgraded luxury. It may be a villa a mansion or a duplex apartment.

In the future, a home in the golf-centric township will potentially see as much as 5-12% higher price rise over 5 years than conventional luxury homes.

When it comes to the HNIs in India, they do not think about the resale value but they would rather consider the superior lifestyle quotient that such a ‘golf home’ would give them. Today, golf is no longer the ‘sport of kings’. It is undoubtedly a passionate sport pursued only by a group of elite few. 

Source:

• https://www.99acres.com/articles/top-cities-to-buy-a-golf-themed-home-in-india.html
• https://www.axiomlandbase.in/why-are-golf-course-communities-gaining-popularity-in-india/
• https://www.punekarnews.in/golf-homes-a-rare-luxury-housing-category/