Developers Entice Rich with Golf Course Based Home Projects

Including golf course in a residential project is nothing but to raising the price bar of a project as golf is linked with the status of the rich buyers. And, developers are smartly incorporating such strategies to target Non-resident Indians (NRIs) and super rich Indians to sell their projects at higher price.

Moreover, "Mumbai has a handful of golf courses but membership is restricted, and, in some cases, the waiting list may stretch to as long as 20 years. Some corporate membership plans are available, but they cost about 30 lakh for eight years. It's a very difficult situation," cited Rishi Narain, a former Asian Games gold medalist in golf.

Real estate players like Indiabulls and Lodha Group are coming up with such golf-linked luxury residential projects in Mumbai.

"Our golf projects in both Mumbai and Pune are large developments catering to the aspirational as well as premium segment of customers. The large scale gives us the opportunity to create large open spaces, and by developing golf courses, we are able to fulfill the aspirations of people seeking to embrace a game and lifestyle that, so far, was perceived to be elitist and only accessible to the ultra-rich," said Abhishek Lodha, MD of Lodha group.