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ASK, India Sotheby’s, and Amavi by Clarks Launch ₹500 Crore Platform for Luxury Second Homes

Published: November 25, 2025 | Category: Real Estate
ASK, India Sotheby’s, and Amavi by Clarks Launch ₹500 Crore Platform for Luxury Second Homes

ASK Property Fund and India Sotheby’s International Realty have partnered with Amavi by Clarks to launch a ₹500 crore equity platform focused on developing branded luxury second homes. The platform, part of the ASK Curated Luxury Assets Fund-I (CLAF-I), will invest in high-end villas in scenic locations such as hill stations, lakes, and spiritual hubs near major metropolitan areas like Mumbai, Pune, and the National Capital Region (NCR).

CLAF-I, registered with SEBI as a Category II AIF, is a collaborative effort between ASK Property Fund and India Sotheby’s International Realty. The fund aims to raise a total corpus of ₹1,500 crore, including a green shoe option of ₹500 crore. It will exclusively target luxury housing projects in major metros and top second-home destinations, including religious and spiritual hubs.

According to the company statement, the fund is dedicated to investing in high-end residential developments across major cities, holiday homes, and second-home destinations. The platform aims to create rare residential assets in exceptional locations, offering elevated design, premium hospitality, and lasting value for discerning buyers.

Amavi by Clarks, backed by the promoters of Clarks Group of Hotels and Brij Hotels, now a strategic partner of IHCL (Taj Group), is entering the luxury second-home market. The company aims to become one of the most aspirational real estate names in the country by creating an ecosystem that offers customers vetted opportunities with institutional oversight and world-class partners.

Amit Bhagat, co-founder, CEO, and MD of ASK Property Fund, highlighted the growing demand from ultra-high-net-worth individuals (UHNIs) and the need for curated luxury homes. He stated, 'Our platform is designed to unlock rare, high-value opportunities in this space. These developments are poised to deliver strong project-level profitability. The fund will benefit significantly from India Sotheby’s International Realty’s deep understanding of the luxury market, its transaction expertise, and its proven ability to unlock value and optimise returns for investors.'

Amit Goyal, MD of India Sotheby’s International Realty, emphasized the new benchmark set by the collaboration. 'We understand the aspirations of the luxury buyer, and together with ASK and the Clarks Group, we aim to redefine what second-home living can be,' he noted.

Sachin Agrawal, Founder and CEO of Amavi by Clarks, described the platform as a significant milestone in the brand’s mission. 'We are creating an ecosystem that offers customers vetted opportunities with institutional oversight and world-class partners,' he said. Co-founder and COO Bajrang Bararia added that the company will target 'high-potential, underexplored markets' curated for niche, like-minded communities.

This collaboration marks a strategic move in the luxury real estate market, combining the strengths of ASK Property Fund, India Sotheby’s International Realty, and Amavi by Clarks to create a unique offering for luxury second-home buyers in India.

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Frequently Asked Questions

1. What is the total investment amount for the platform?
The platform has a total investment amount of ₹500 crore, with plans to raise a total corpus of ₹1,500 crore, including a green shoe option of ₹500 crore.
2. What types of luxury second homes will the platform focus on?
The platform will focus on developing high-end villas in hill stations, lakes, and spiritual hubs near major metropolitan areas like Mumbai, Pune, and the National Capital Region (NCR).
3. Who are the key partners in this collaboration?
The key partners in this collaboration are ASK Property Fund, India Sotheby’s International Realty, and Amavi by Clarks.
4. What is the primary goal of the ASK Curated Luxury Assets Fund-I (CLAF-I)?
The primary goal of CLAF-I is to create rare residential assets in exceptional locations, offering elevated design, premium hospitality, and lasting value for discerning buyers.
5. How does the platform benefit from the expertise of its partners?
The platform benefits from the deep understanding of the luxury market, transaction expertise, and proven ability to unlock value and optimize returns for investors, provided by India Sotheby’s International Realty, and the institutional oversight and world-class partnerships of Amavi by Clarks.