Axis Ecorp to invest Rs 250 crore in developing serviced holiday homes in Goa and Siliguri

Realty developer Axis Ecorp said it will invest Rs 250 crore in premium developments in the holiday homes and secondary housing segment in Goa and Siliguri.

The company intends to operate these luxury smart service villa and expand to more cities which attracts tourists.

“We have close to 22-acre land in Goa. Located in proximity with upcoming airport, the project has attracted interest from investors, especially those living outside India. With the covid, HNIs are looking forward holiday home and second home,” said Aditya Kushwaha, CEO and Director Axis Ecorp.

The company which runs a college in Kanpur, had acquired land parcels at various parts of the country to expand the college portfolio but is instead focusing on real estate.

“Place like Siliguri is turning into a hub and is an emerging business district. We will come up with hotel and retail area. Similarly, we are identifying more such domestic destinations,” said Kushwaha.

Company is also coming up with concepts of kids centric hotel and Yog Villas. Comprising over 69 units with a built-up area of 1400 sqft for each unit and the project is expected to be completed by 2023. Located in Dodamarg, these villas are 35 kilometers away from Panjim city center.

“The market for holiday homes has been witnessing a steady increase in the last couple of years especially after Covid-19 where people are looking for spaces with more comfortable work from home setups. Our offering in the segment is an amalgamation of luxury lifestyle, lush green surroundings, and full-serviced property,” said Aditya Kushwaha.

Read More   Three IL&FS group companies to service Rs 3,300 crore debt

Axis Ecorp intends to fulfill the demand for fully-managed luxury homes and expected to achieve a sales target of Rs 100 crore in the next six months.

“While the overall real estate industry is still recovering from the pandemic-related downturn, the secondary and holiday homes sector has gained much traction owing to the increasing demand for luxury living standards, stable investment options, and higher rental yields. Non-metros like Goa are clear winners for smart investors looking to move from hectic cities to serene holiday homes that offer the best of luxury and natural beauty,” he said.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.