ASK CLAF-I launches ₹500 cr equity platform to invest in branded homes

ASK Property Fund and India Sotheby's International Realty launch a Rs 500 crore equity platform with Amavi by Clarks to invest in branded luxury second homes across key destinations

ASK Curated Luxury Assets Fund-I (CLAF-I) — a collaboration between ASK Property Fund and India Sotheby’s International Realty — has established a ₹500 crore equity platform with Amavi by Clarks, a branded residences venture. 

 

This collaboration will invest equity capital in branded luxury second homes across destinations. The first set of projects has been identified in locations around the Mumbai Metropolitan Region (MMR), Pune, and the National Capital Region (NCR). The platform aims to create rare residential assets in exceptional destinations — delivering elevated design, premium hospitality, and lasting value for discerning buyers, the fund noted.

 

ASK Curated Luxury Assets Fund I is registered with the Securities and Exchange Board of India (Sebi) as a Category II Alternative Investment Fund (AIF) under the Sebi AIF Regulations. The fund plans to immediately start deploying funds, as per its investment strategy, and aims to raise a total of ₹1,500 crore, including a green shoe option of ₹500 crore, towards its final close.

“India’s ultra high net worth individuals (UHNIs) are increasingly drawn to luxury second homes, and our platform is designed to unlock rare, high-value opportunities in this space,” said Amit Bhagat, co-founder, chief executive officer (CEO) and managing director (MD), ASK Property Fund. These developments are “poised to deliver strong project-level profitability”. 

 

The fund will benefit 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, the top executive added. 

 

ASK Curated Luxury Assets Fund I is dedicated exclusively to investing in high-end residential developments across major cities, holiday homes and second-home destinations — including religious and spiritual hubs.

 

ASK Property Fund is the alternate asset investment arm of the ASK group, set up to manage and advise real estate dedicated funds. The focus is on private equity investments in the self-liquidating residential segment. Property Fund has raised over ₹8,500 crore since 2009, and its investor base includes family offices, UHNIs, high net worth individuals, and institutions.

 

India Sotheby’s International Realty MD, Amit Goyal, said, “This platform brings the India Sotheby’s International Realty ethos to a new asset class — branded luxury villas in rare, sought-after destinations. Together, we aim to deliver a new generation of branded villa developments that seamlessly blend investment potential with elevated, experiential living.”

 

Apurv Kumar, founder of Amavi by Clarks and MD of Clarks Group of Hotels, said, “We are excited to be part of this platform. At Amavi by Clarks, our focus is on delivering hospitality-led, premium, and de-risked leisure home assets backed by strong governance, trusted partners, and strategic capital. This platform truly reflects that commitment.”

 

Amavi by Clarks is backed by the promoters of Clarks Group of Hotels and Brij Hotels, now a strategic partner of the Indian Hotels Company Limited (Taj Group).