ASK & Sotheby's Unlock ₹500 Cr. Luxury Second Home Fund

ASK Curated Luxury Assets Fund-I (CLAF-I), a joint venture between ASK Property Fund and India Sotheby’s International Realty, has launched a ₹500 crore equity platform dedicated to luxury second homes.

The fund will invest in high-end branded residences across prime markets including the Mumbai Metropolitan Region (MMR), Pune, and the National Capital Region (NCR). CLAF-I aims to develop exceptional, design-led properties with premium hospitality services tailored for ultra-high-net-worth individuals (UHNIs). Registered with SEBI as a Category II Alternative Investment Fund (AIF), the platform plans to scale up to ₹1,500 crore, including a ₹500 crore green shoe option.

Amit Bhagat, CEO and MD of ASK Property Fund, noted the rising demand for luxury second homes and strong profitability at the project level. India Sotheby’s will leverage its deep expertise in the luxury real estate segment to enhance returns. Since 2009, ASK Property Fund has raised over ₹8,500 crore in private equity capital.

News by Rahul Yelligetti.