High end residences have started coming up in the last 2-3 years. Golf course in a residential enclave distinguishes the enclave from other projects.
WHY GOLF RESIDENCES
Posh club houses with facilities such as swimming pools, gym, indoor and outdoor sports and games facilities within residential enclaves is now a given and are taken for granted. They don’t constitute luxury facilities anymore. A golf course within an enclave obviously is seen as top-of-the-line luxury.
WHY ARE THEY SO EXPENSIVE
The developer has to earmark 100-200 acres of land within the enclave for a golf course. The cost of this unsold land and the maintenance of lush green top on this land is high.
PROJECTS IN BANGALORE
For a decade or more Eagleton golf village in Bidadi, Bangalore happened to be the only golf-residential enclave. But now there are 3 others in the making in Bangalore.
1) Prestige Golf shire 2) Tuscany square and 3) Alliance Eldorado park
PROJECTS IN MYSORE
There are two projects currently happening and there are no existing projects. Out of the two, one project – Heritage golf has international affiliations in the form of HARRADINE GOLF – a company of global repute having done more than 200 golf courses all around the world.
COST OF INDIVIDUAL UNITS
Between 2.5 crores to 10 crores in Bangalore and 1 crore to 2.5 crore in Mysore.
SUPPLY AND DEMAND
Are nicely and delicately poised now. Since the absolute numbers in the market for 2crore-10 crore properties are not many, there is place for limited projects. But if too many developers try their hand in these golf projects, there could be demand pressures in the future.
