ASK Property Fund and India Sotheby’s International Realty have partnered with Amavi by Clarks to create a ₹500 crore equity platform that will invest in branded luxury second homes across key leisure destinations in India, the company said in a statement on November 25.
The platform, part of the ASK Curated Luxury Assets Fund-I (CLAF-I), aims to develop high-end villas in hill, lake and spiritual locations near the Mumbai Metropolitan Region (MMR), Pune and the National Capital Region (NCR).
CLAF-I, registered with SEBI as a Category II AIF, is a collaboration between ASK Property Fund and India SIR. The fund plans to deploy capital immediately as per its investment strategy and is targeting a total corpus of ₹1,500 crore, including a green shoe option of ₹500 crore. It will invest exclusively in luxury housing across major metros and top second-home destinations, including religious and spiritual hubs, the statement said.
According to the company statement, the fund is dedicated exclusively to investing in high-end residential developments across major cities, holiday homes and second-home destinations, including religious and spiritual hubs.
“By uniting the strengths of ASK Property Fund, India Sotheby’s International Realty, and Amavi by Clarks, the platform aims to deploy equity capital to create rare residential assets in exceptional destinations, delivering elevated design, premium hospitality, and lasting value for discerning buyers,” the statement said.
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 said.
Amit Bhagat, co-founder, CEO and MD of ASK Property Fund, said the surge in demand from ultra-high-net-worth individuals (UHNIs) is accelerating the need for curated luxury homes. “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, said the collaboration sets “a new benchmark for branded villa developments in India,” combining investment strength with experiential living. “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, said the platform marks a significant milestone in the brand’s mission to become one of the country’s most aspirational real estate names. “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.