Alibaug. The name conjures up images of pristine, windy beaches; lush greenery; and the preferred weekend home destination of the rich and the famous. However, in recent years, this scenic coastal town close to Mumbai has become increasingly accessible as a second-home destination for those with surplus budgets as well.
Often referred to as the ‘mini Goa of Maharashtra’, Alibaug has transformed from being a hugely popular weekend getaway for day-trippers from Mumbai; to a ‘must-have’ retreat for HNIs from South Mumbai, industrialists and film stars; and recently, to a vacation home for even middle-high income home buyers looking to invest in a leisure destination that is still relatively affordable.
One of Alibaug’s biggest advantages is its proximity to Mumbai – most travellers opt for the 3-hour drive from Mumbai, though the 60-minute ferry ride from the Gateway of India is equally comfortable. Ancient forts, temples, forest areas and multiple beaches further add to the town’s appeal as a tourist destination, together with the local cuisine it is famous for. For those inclined towards sports and adventure, there is scuba diving, snorkelling and sailing to be enjoyed.
But it’s not all beaches and tourists. Alibaug is home to many district government offices. The town is blessed with excellent climatic conditions all year round, but is most popular during winter, and known for its abundant monsoons. Festivals like Nag Panchami and Pola are celebrated with much enthusiasm.
There is much more to Alibaug than nature’s bounty. Here, we list some of the reasons why the town makes ample real estate investment sense too.
Infrastructure boost
The ongoing Panvel-Kopra airport is located approximately 45 minutes away Alibaug, and has influenced the development of educational and social infrastructure, and new business opportunities. Additionally, the Roll-On Roll-Off (Ro-Ro) ferry service between Mumbai and Alibaug is expected to be completed in 2018. Connectivity is further enhanced by local train services from Panvel, the multimodal corridor road from Virar, and the 4-lane Mumbai–Goa highway.
‘Leisurenomics’ demands smooth connectivity to leisure destinations, together with just the right amount of infrastructure development for optimal tourism development. Alibaug scores on both counts.
Property appreciation
Property rates in Alibaug have appreciated by as much as 3-4 times over the past decade - a strong indicator of the fact that the region is ready for the next wave of real estate growth. Leading hotel chains are now present in the area, together with innumerable homestay options.
A growing Indian middle class that is increasingly global in its aspirations means that homes in Alibaug are no longer the exclusive preserve of HNIs, industrialists and celebrities. Salaried home buyers and the aspirational middle class are increasingly interested in dual homes in these locations, that can be put up for timeshare or rentals when not in use, or as investments for future generations. This, in turn, means that there is a growing range of supply in the leisure or weekend homes category, to cater to evolving demand in Alibaug.
The investor or home buyer in Alibaug is today also conscious about ROI (Return on Investment) prospects. There is an increasingly popular view that Alibaug, when infrastructure and development reaches critical mass stages, will witness unprecedented growth levels.
Many leading
real estate developers, including Mahindra Lifespaces, are today present in Alibaug. The Company’s project - The Serenes - offers villas in Alibaug, which are strategically located in close proximity to the beach. The contemporary architecture of these villas beautifully blends the interiors with the project’s natural surroundings. Spaciously designed, these villas in Alibaug offers an unbridled sense of freedom, as well as privacy, via thoughtful and intuitive design. The project also includes various innovative eco-friendly features such as rainwater harvesting; and energy-efficient, healthy and friendly indoors.
Replete with modern amenities, these bungalows in Alibaug spell luxury and comfort. The property includes a gym, spa, golf putting green, swimming pool, and a party hall.
Overall, an amazing blend of culture, tranquil scenery and fast-developing infrastructure - Alibaug is a timeless destination for a vacation home that spells luxury, exclusivity and good returns on investment!
