by THO
Former Indian captain Virat Kohli has taken to his social media channels on Instagram and X to share the first glimpses of his recently completed holiday home in Alibaug, a coastal town south of Mumbai. Here’s a look at Alibaug, a second home real estate investment destination for several high and ultra high net worth individuals, including Bollywood stars, non-resident Indians, sportsmen and corporate titans.
“The journey of building my Alibaug home has been a seamless experience, and seeing it all come together is truly gratifying. Huge thanks to the entire Avas team for making our dream home a reality,” Kohli wrote in a post on X, with a video depicting the 12-month journey of building the property.
The new holiday property is located in Awas Living, Alibaug, an exclusive gated community with a limited number of villas alongside a wellness centre and spa.
Awas Wellness was founded by Aditya Kilachand, and counts marquee names such as Adar Poonawalla and Gaurav Kapur amongst its investors.
“When I heard the plan, the project in itself is very unique. You have a sense of community, but at the same time, you have your own privacy and access to all the amenities you would need in a holiday home,” Kohli said in the video. He can be heard describing the property’s interiors as “subtle and classy” while the villa is constructed in a Californian Konkan style, allowing plenty of sunlight.
Also Read: Kriti Sanon strikes ₹2 crore real estate deal in Alibaug
Avas Wellness partnered with South-Africa based architecture firm SAOTA, and designer Sussanne Khan for the project.
The Avas project includes 16 fully-furnished 3-5 bedroom villas spanning a carpet area of 3,000-5,000 square feet each, said Shahzad Dastoor, Business Head, Avas Wellness. Around 15 out of the 16 units have been sold since the launch of the project in November, 2022, at a price of ₹10-14 crore each, he added.
These villas will be serviced and managed by Avas Wellness.
Other projects in the area include villas by Isprava, Palmore, Aditya Mangaldas and Kensington Villas.
With this purchase, Kohli now counts actor Ram Kapoor, business woman Rita Kapoor and Axis Bank MD and CEO Amitabh Chaudhry amongst his neighbours, according to reports.
Alibaug – land rates, property prices and more
According to local brokers, land rates in Alibaug’s real estate market range between ₹3,000 to ₹15,000 per square feet, depending on the locality. They added that rental yields in the coastal town hover around 5-6% while value appreciation ranges anywhere between 12% to 15% on a per annum basis.
Overall, Alibaug offers a wide array of choices to prospective property buyers/investors, ranging from plots to apartments and villas, across multiple price points.
How far is Alibaug from Mumbai?
It takes about 45 minutes using roll-on-roll off (roro)-cum-passenger ferry to travel from Mumbai to Mandwa, from which Alibaug is a 30-minute drive. The Roro services were launched in the year 2020 and can carry 145 cars along with 500 passengers.
Alibaug is at a distance of around 110 km from South Mumbai. Using the roadways, it takes around three to five hours to reach the coastal town from Mumbai.
Also Read: Suhana Khan buys farmland in Alibaug for ₹9.5 crore
According to industry sources, Alibaug is expected to witness an investment of approximately ₹3,000 crore shortly, and an estimated 250 acres are likely to be developed in a phased manner, with luxury villas and integrated townships likely to come up.
Also Read: Kalki 2898 AD’s actor Amitabh Bachchan buys land in Alibaug for ₹10 crore
