Luxebook November 2022

N O V E M B E R 2 0 2 2 INVESTING ABROAD London, LA and Dubai: Indians look west for property Homes right out of the movies! Mapping the biggest cities in India for real estate Luxury moves towards experience stores

T H E G I S T N O V E M B E R 2 0 2 2 Indians love to invest in real estate. When the markets are volatile world over, as it is today, as the digital world shakes our everyday reality, the stability of gold and land attracts Indians like no other asset class. The risk-adjusted returns from investment in property have been superior to that from the stock market, if done right. LuxeBook turned its attention to the recent traction in the luxury real estate industry, analysing how it’s maturing, keeping pace with the growing numbers of India’s millionaires. We look at how home-owning options are diversifying with the rise in co-ownership as a concept, especially for holiday destinations and for second home. We spoke to industry experts on how Indians have been the fifth largest buyers of residential property in the US, and what destinations are coming up in the mix. Some celebrity homes provide dream house goals, and homes right out of the movies now converted into Airbnbs provide holiday inspiration. Payel Majumdar Upreti —Editor All about the location S O C I A L M E D I A www.mediascope.co.in www.luxebook.in ADVERTISING SALES Mumbai (022 - 6846 8500) Regional Manager (West) — Katty Gia (+91 98705 32295) • Senior Manager — Lamont Dias (+91 91674 14988) Delhi (011 - 4562 5810) Sr. General Mgr. (North) — Asha Augustine (+91 98182 80431) Kerala (+91 94140 69321) — Sanjai Krishnan Manager Mktg. Services — Salim B • Client Servicing Manager — Reshma Malvankar Founders — Marzban Patel / Anita Patel • Director Publishing — Indu Joshi • Chief Marketing Officer — Apeksha Mehta Editor — Payel Majumdar Upreti • Writers — Arushi Sakhuja, Schenelle Dsouza, Jade Crasto Creative Director — Muhammad Jaan Faruqui This magazine is printed by and produced by Mediascope Representation (India) LLP. Opinions herein are the writers’ and do not necessarily reflect the opinions of Mediascope. Editorial enquiries concerning the reproduction of articles, advertising and circulation should be addressed to: LuxeBook, Mediascope Representation (India) LLP., 51, Doli Chamber, Arthur Bunder Road, Colaba, Mumbai 400005, India. Email: luxebook@mediascope.co.in. Material in this publication may not be reproduced, whether in part or in whole, without the consent of the publisher.

04 Trending 08 The Physical Touch 24 Celebrity Abodes 46 Movie Airbnbs 32 Luxury Homes 52 Rent and Lease 16 Investing Overseas 58 Pearl of the Orient SEASON TO CELEBRATE Kick back and celebrate those magical moments in the picturesque #QueenOfHills with your loved ones. Stay exquisitely in one of our elegant rooms and suites, explore our culinary rendez-vous, indulge in holiday pampering rituals and revel in a stellar line up of events curated just for you. To create such memorable moments with us, please contact our vacation expert at 0135.2635700, +91 7060211017 or email at jw.dedjw.reservations@marriotthotels.com Village - Siya, Kempty Fall Road, Tehri Garhwal, Uttarakhand - 248179, India. C M Y CM MY CY CMY K CONTENTS N O V E M B E R 2 0 2 2 2|L U X E B O O K|N O V E MB E R 2 0 2 2

1 COMPILED BY ARUSHI SAKHUJA Ritu Kumar Set of 3 – `1800 labelritukumar.com Whether your style is minimalistic, avant-garde, or even surrealist, nothing can add opulence to your home like statement home décor pieces. As modern and minimal homes gain popularity, one can’t deny that the grandeur of rich styles from different eras add architectural interest to a home. Here’s LuxeBook’s edit of some home décor keepsakes that help transform your home. 1. Dior Beige Multicolor Jardin d’Hiver Large Morning Bird Pillow Solid coloured upholstered sofas often need a quirky element that brings them to life. If you have a keen eye for nature inspired-prints, Dior’s signature pillow with a monogram will add an opulent touch to the interiors of your living room. Buy it here. 2. Seletti Pouf Shit Pouffe Sartorial, quirky and eclectic, Seletti is the ultimate when it comes to off-beat home décor accents. The Pouf Shit is designed to bring a vibrant persona to your living space, and will make any room come to life. Buy it Here. 3. Villeroy and Boch Vase Timeless and exquisite, Villeroy & Boch is the brand when it comes to crockery and gift sets for the home. These artistic vases work as the perfect design element to add to a centre table or a cosy niche in your home. Available on Tatacliq Luxury 4. Rezon Luxury Silveware candle stand Contemporary in design, this iconic silver candle stand from Rezon Silverware’s Lotus and the Secret Garden collection evokes a modern floral paradise. The sleek design makes it an ideal accessory to spruce up a sit-down dinner tablescape. Available on: Ajio Luxe 5. Vista Alegre Crystal Boreal Vase The beauty can be found in this Vista Alegre vase’s intricate design, where a slightly flared frame pairs with a careful diamond pattern for a striking addition to the home. This vase offers a decorative addition to your home regardless of whether its holding flowers or not. Buy it here. 6. Swarovski Decorative Box Looking to add a touch of colour to the interiors of your home? Do so with Swarovski’s elegant and functional decorative box that takes Luxury home décor accents to enliven your spaces Home décor pieces that make a statement 5 8 7 9 TRENDING 4|L U X E B O O K|N O V E MB E R 2 0 2 2

inspiration from a pineapple. This stylish, modern interpretation is crafted from lacquered glass, while the brushed metal details add sophisticated colour contrast. Buy it here. 7. Lladro Firefly Table Lamp Light up your home with Lladro’s exclusive lamp that is inspired by the fascinating light emitted by fireflies on warm summer nights. Unusual in design, the intricately crafted details add to the regal appeal of the lamp. Buy it here. 11. Gucci Esotericum Grotesque Garden print mini basket candle Let the fragrant blend of jasmine, orange bitters and leather notes take over your home with Gucci’s scent Esotericum. Present in a mini basket candle featuring the Grotesque Garden print, rich with botanical flowers and a favourite House style—the lion head — it makes for a great showpiece when not in use. Buy It here. 8. Ralph Lauren Brennan Clock For those who have a fetish for clocks, this one by Ralph Lauren is a flawless addition to your home study. The brown leather detailing accentuates the gold rim of the clock’s face, making it just what your table needs. Buy it here. 9. Ralph Lauren Mercedes Benz Gullwing Coupe Be it a home décor item for the bar or for the console table, this Ralph Lauren Mercedes Benz Gullwing Coupe is sure to garner eyeballs. This exact 1:18 scale replica, which is handconstructed is an iconic addition to every home. Buy it here. 10. Baccarat Chessboard A perfect addition to modern homes that champions a monochrome colour palette and geometric furniture. Baccarat’s Chessboard is transformed into a genuine collector’s item with pawns in crystal, detailing with gold and chessboard in inlaid marble. This chess set is a fine addition to a grand home. Buy It here. 11 2 3 10 6 4 6|L U X E B O O K|N O V E MB E R 2 0 2 2

The Era Of Experiential Stores Retailers are creatively thinking about physical spaces to ensure the best customer experience BY ARUSHI SAKHUJA The way commercial real estate is utilised has changed drastically over the years. Earlier, the shopping experience was a conventional source of investment for brands and retailers. But since the pandemic, the change in consumer behaviour with the rise of online platforms has given birth to newer kinds of shopper experiences — and ushered in the era experiential retail stores. Going beyond just a regular store, retail stores have started leveraging experiences to customers rather than products. The old model of in-store (and even online) retail strictly focused on products being sold is giving way to a more engaging Serendity, Delhi experience that allows patrons to not just touch, feel and experience the product, but also the process by which it is made, the materials used, to better appreciate the techique and skill that goes into it. Customers now look for a combination of both entertainment and retail in a store. Being creative with the use of one’s physical retail store not only generates profit but creates experiences that adds to brand value. According to a study conducted by Forbes in 2019, “The trend has been largely driven by millennials and their preference for experiences over things.” A study from Harris Group found that 72% of millennials prefer to spend money on experiences rather than materialthings. Experiences over things However, the real magic behind retail stores, is that these stores allow their customers to connect with them in a more immersive manner. By connecting with the consumers at all touch points, the technologies that promote experiential retail also enable retailers to influence consumer behaviour. A notable example is Samsung’s $43 million pop-up that features its products but does not have any for sale. Serendity, Delhi 8|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 9 THE PHYSICAL TOUCH

A fallout of technology The focal point of the experiential retail approach is to create a unique personal experience that shapes one’s perception of a brand, and hence leads to brand loyalty and engagement. The emergence of virtual reality, augmented reality, and improved mobile technology will continue to push retail brands to add layers and new experiences to their traditional retail models. While the US is the hub for such stores —and a mecca of consumerism — India has also seen a steady rise in the clout of experiential spaces. Brands understand that the need of the hour is to create personal experiences to set themselves apart from their competitors, and thrive in competition. India, too, is gearing up for a new retail experience. Bridging the retailer-consumer gap According to the Freeman Global Brand Experience study, more than a third of CMOs said they plan to spend 21% to 50% of their budgets on brand experiences over the next several years. It’s interesting to note that 80% of marketers believe live events are critical to their company’s success, and 77% use experiential marketing as a vital part of a brand’s advertising strategy. Experiential retail is counterbalancing the growing popularity of e-commerce, and ensuring profitability by increasing the brand’s physical presence, said a report by CBRE. It further stated, “Following the pandemic, the productivity of retail spaces came into sharp focus, with ‘experience’ becoming more crucial because of its ability to increase customer engagement and not just sales. “Anshuman Magazine, chairperson and chief executive, India, South-East Asia, Middle East, and Africa, CBRE also noted that brands are resizing and recalibrating their physical store strategies to diversify their portfolio and expand their footprint, with ‘experience’ stores bridging the retailer-consumer gap. Today’s educated consumers prioritize creating memories, and these positive and memorable experiences influence consumers to make purchases more than traditional marketing. In fact, 74% of event attendees also had a more positive opinion about the company, brand, or product being promoted after an event, said a study by Forbes. 98% of users feel more inclined to purchase after attending an activation, and hence we can say that the human touch and immersive experience goes a long way. Celebrating Indian architecture at the Sabyasachi store Beyond Designs experiential Delhi store Brands are realizing the potential of experience centres — and it works as a brand’s USP, since it is intangible it cannot truly be recreated or copied. This strategy is all about creating a meaningful experience that’ll engage the audiences, in relevant ways. “Giving immersive shopping experiences to our customers has always been our top priority because our eclectic collection of home furnishings and furniture at Sarita Handa has always been craft-centric. With Sarita Handa Now, we have ushered in a new design language so we wanted to create tactile, engaging experiences. Moreover, having an experiential space is a “must-have” because it gives customers a feel of the brand and its ethos,” said Sarita Handa, Founder and Creative Director, Sarita Handa NOW. Experience stores can broadly be categorised into those that are aesthetic-driven like fashion stores,staging stores like home décor stores and user-experience stores for technology. Apparel retailers are using technology like virtual trial rooms and smart mirrors for customers to ‘experience’ the outfit or accessory. Electronic stores are using technology such as augmented reality to offer a simulated experience of the gadgets are becoming common; and home décor brands are giving consumers a chance to have a tactile experience of the product. Each of these experiential stores has a unique USP to cater to different aspects, from artistic cafés and stores to ones that offers customers a chance to touch, feel and engage with a product. These stores have also been located carefully (often closer to airports) to ensure a customer can visit a new city just for the store. The human touch The feel and smell of a physical store can be captivating. As we move towards online shopping ecosystems, some still prefer the traditional tactile experience of touching and seeing before purchasing a product. After the pandemic, individuals wished to go back to in-person shopping experiences, and retailers began to experiment with newer modes of experiences and sales. While some retailing on e-commerce platforms started hosting pop-ups; others introduced staging stores. Luxury brand Ikai Asai was one such homegrown brand to organize an interesting experiential pop-up at the AM/ PM Store in DLF Emporio where the brand collaborated with chefs such as Bani Nanda for workshops on the art of table scaping. This was an unusual way to introduce consumers to touch, feel and experience the lightweight Into the world of Sabyasachi 10|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 1 1

Ikai Asai products — that are not available in stores — before purchasing the product. Sprawling spaces Some luxury brands in the design and décor space like the Dash Square flagship store in Bengaluru, Beyond Designs experience centre in New Delhi and Dialogues by Nirmal’s are changing the way people experience home décor retail. Dash Sqaure’s flagship store on the New Airport Road, Bengaluru is home to the biggest experience center of the brand in India. The store spans over 30,000 square feet with multiple brands under one roof. Dash Bespoke 3.0. changed the furniture buying experience where “customized furniture met home décor met interior design,” according to the store’s founder. The new store experience allows the consumer a chance to tailor-make furniture to suit their home’s requirements. Each brand is staged in different ways across the huge store, which looks like multiple luxury apartments lined up in orderm and one can truly experience the product’s look and feel, before deciding upon the aesthetic. Bringing the concept of a home store and bistro into one is the Beyond Designs 8,000 square-feet bright space nestled on MG Road in New Delhi. The store is a walk-through concept displaying a formal living room, dining room, bar lounge, bedroom and bathrooms along with an exclusive area dedicated to accessory shopping, and a beautiful 52-seater cafe with a private dining area. If you desire a quick meal while on-the-go, the bistro is the perfect place to stop. Beyond Designs Home and Bistro is the brainchild of Founder and Restaurateur Neha Gupta. It brings together her design’s aesthetics with her passion for food. Exploring her passion for food, Gupta decided to expand the scope of Beyond Designs with a new vertical - The Bistro which is housed in their flagship store. “As a designer, I take interest in all artistic areas, be it food, fashion or hosting events. Everything revolves around good taste and an eye for detail. For me, the culinary space is another such area. So, it didn’t seem like much of a diverse idea. The inspiration came from all the concept stores I visited while travelling abroad that offered beautiful shopping-and-dining experiences. I wanted to recreate that experience for our patrons here in Delhi,” she said. Upon stepping into the space, you will be greeted with grand chandeliers, gorgeous white marble topped tables, chic cane chairs that redefine vintage, and classic Dash Square Bengaluru store JJ Valaya Aerocity. Shot by Ashish Sahi sofas upholstered in floral fabric, antique-inspired accessories and charming classic-contemporary décor brimming with a warm and romantic vibe that take you straight to the Parisian streets. The display experiments with shapes, forms, and surfaces to bring to life varied influences: art deco, graphic futurism, lyrical decadence. Yet another store that promises an experiential journey is in the Delhi Design District on MG Road — Dialogues byNirmal’s.Spanning over an area of 6,500 sqft, the experience centre showcases exclusive collections of interior fabrics, wall coverings, artefacts, and bed linen, curated from across the world, that customers can, touch, feel and experience before purchasing. The store design was ideated on the lines of international home décor brand Maison & Objet to offer an international experience in the capital city Speaking on the ideology behind the store, Sachin Chauhan - Director, Dialogues by Nirmals shared, “When you think about a furnishings store, almost immediately a stack of catalogues, plenty of hangers and fabric rolls come to your mind, we wanted to change that. Our idea was to offer something different to the country.” He further said, “we wanted to have a space that doesn’t create any hindrance to the creative thought process of our guests. We have created 7 Different spaces within our store that any guest can interact with and can take inspiration from. All these sections are designed in a way to look like a part of a modern home. Apart from these spaces, we also have a hall that houses all the samples, it is right in the centre in order to serve all our guests but does not take away from the aesthetics of the store but simply adds to it.” The store design takes care to accommodate multiple languages or dialogues in home interiors and such individually tailored solutions are possible only when there is an exchange of ideas between the Dialogues’ team and clients. Hence the brand hosts at their experience centre a series of wonderful dialogues between the creativity of the clients and their offerings that result in stories that are worth conversations. Located in the village of Jaunapur in New Delhi, Serendipity is a haven for those who love to travel. A unique Travel inspired Concept Store, set in a beautifully restored Haveli by Kuldeep Kaur, the creative mind behind this Lifestyle Store with a Rooftop Café, it boasts gorgeous views of the historic Mehrauli area. Founder and Designer Kuldeep Kaur has parlayed her flair for Interior Design and Travel into a beautifully curated JJ Valaya Aerocity. Shot by Ashish Sahi N O V E MB E R 2 0 2 2 |L U X E B O O K| 13 12|L U X E B O O K|N O V E MB E R 2 0 2 2

space with Textiles, Furniture and Vintage finds from international markets. A restored haveli spanning three floors the store guarantees an experience for all your desires. Full of linen, furnishings, clothes, jewellery and furniture, Serendipity, offers a retail experience along with a culinary delight at their rooftop which is nothing short of gorgeous. Serendipity focuses on the idea that “it’s not about the destination, it’s about the journey.” Kolkata to New York While home décor brands champion the tactile senses, fashion stores often captivate your visual senses as they take you into a world of fashion and art. Fashion designers often showcase their style sensibilities through the artistic interiors of their store. While some collaborate with others for a unique experience, others showcase a new line or product category; while some have a private consulting room to make the experience personalised. Sabyasachi, the brand holds immense weight in the fashion world. It is synonymous with opulent stores that promise grandeur and royalty as you enter the store. His newest addition to the gamut of stores is the one in New York City at 160 Christopher Street. The store launch created a lot of buzz in the news last month and is also the first international flagship store. The store celebrates the rich culture of India and is unapologetically maximalist, decadent, and ornamental. It is a celebration of the handmade and the finest of Indian artisanship with a uniquely modern perspective. What truly makes this experience special is the design and architecture of the store, the breath-taking expanse and attention to detail, instantly transporting you into a regal world of Indian artisanship which is intrinsically Sabyasachi. “I have spent the last two decades creating a brand rooted in heritage, artistry and a point-of-view that is authentically Indian. It’s time for me to share this with the world,” said Sabyasachi Mukherjee. “The New York edit shamelessly interlaces the east and west, the traditional and rebellious, the precious and profane, and the sensorial with the intellectual,” the designer further adds. The Bengal Tiger insignia is deconstructed across prints and fine artistry. The tropical flora and fauna of Bengal’s Sundarbans are hand painted by the Sabyasachi Art Foundation and digitally rendered into now classic house prints. The New York edit maps the journey from SH NOW by Sarita Handa Mrs Suparna Handa (L) and Mrs Sarita Handa (R) Kolkata to New York, and revels in the decadence of Indian craft, heritage, and the spirit of a new renaissance. But when you speak of aesthetically curated stores, one can’t miss the new JJ Valaya experiential and flagship store ‘The World of Valaya’ to the JW Marriott Hotel in Aerocity, Delhi. The awe-inspiring beauty of the store, spread across 12,000 square feet and two-storeys features the designer’s three primary loves under one roof — fashion, home, and photography. To make the immersive in the true sense of the term, everything in the store has been designed, developed, or curated by the master couturier and takes maximalist route to design. Upon stepping into the store you with stumble on a small reception, and the store also has a jewellery section adorned with pieces from Aulerth, and the brands new bridge-to-luxury brand, JJV. A regal and opulent winding staircase takes you up to the most special chamber — a room dedicated to some of his most expensive and intricate bridal lehenga with a museum-style display. Finally, the store has a section for couture and home décor and it boasts scene photographic works of the designer. The future of experiential stores With the increasing need for emotional connect, longlasting experience and tactile experiences of new product categories or modern technologies, brands are being forced to rethink their strategies and push creative boundaries when it comes on to the use of space. While the e-commerce space is booming, customers still want to touch and feel, they walk into a store and see the products that is paving the way for more experiential stores across the globe. An experiential store creates a memory and a lasting experience that forms a unique connection with the clientele and will also influence the purchasing power. However, experiences are not limited just to stores, pop-up shows account for experiential spaces as well as opposed to aggressive, hard-sell marketing tactics, give breathing space to the consumer, and let them be themselves. These spaces curated to suit the brand, style, and audiences are tailor-made for the consumer. But the bottom line remains that engaging with the customers is a very vital factor and retailers are getting creative as they experiment and try new methods of engagement and experiences. Ikai Asai X Ravi Vazirani 14|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 15

Uptick in Indians investing in real estate abroad Indians are shopping for property in the world’s most influential addresses BY ARUSHI SAKHUJA & SCHENELLE DSOUZA I ndia’s booming economy makes it a home to many multi-millionaires. It’s not surprising that AsiaPacific Wealth Report statistics point to Indians being the highest investors in foreign real estate, with a 50 per cent market share. While in the previous decades it was a rare phenomenon, with celebrities and NRIs having homes abroad, today the demographic of people investing in real estate overseas — for business or leisure — has seen a sharp increase. Indians have chosen to invest in their second homes abroad. Capital appreciation abroad Attractive investment destinations include countries like Thailand, Dubai, Toronto, Sydney, Netherlands, Germany, New York, and Australia. These are places where they can get good capital appreciation and a stable rental yield. “ London, Dubai, Singapore and Australia have been perennial favourites for Indians interested in buying real estate in foreign countries. There is also evidence of increasing interest in some other Middle-eastern countries,” shared Anuj Puri, Chairman, of Anarock Group, a property consultancy. Mr. Shravan Gupta, Co-Founder and CEO of YOURS Second Homes shared, “Dubai, Portugal and the UK are popular because real estate investments in these places also give the investors access to a golden visa or a permanent residency permit. These destinations attract investments from Indians who want to have some overseas assets in their portfolio. In addition, these are all popular tourist destinations that Indians visit frequently.” “The trend of Indians buying properties abroad is more than a couple of decades old, but the interest in such acquisitions keeps fluctuating in tandem with the Indian economy (which has a fairly direct correlation to their purchasing power), job prospects and family presence in the target country, and the changing immigration laws in that country,” further added Mr Puri. According to a 2019 report, over 3,000 Indian families own some of the most luxurious properties in London’s most affluential addresses. However, a driving force for property in London according to Knight Frank is a drop in property prices in the city. The report stated, “An effective discount of about 20%, taking into account the currency and price movements in prime central London in the period between the European Union referendum and October 2019 has benefitted Indian buyers.” Despite that, places that offer residency options providing visafree access are also becoming popular amongst HNIs, with the base investment being real estate. India’s economy and the interest from international investors, the spending power of the nation has drastically increased in the last decade. It was back in 2015 that a report by Sotheby’s International Wealth Report predicted that by 2020 India’s High Net-worth Individuals (HNIs) and the ultra-rich would pump in Mr. Sudeep Chandran, Co-Founder and COO, YOURS Second Homes INVESTING OVERSEAS 16|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 17

about one billion pounds annually in the UK real estate. And that is exactly what happened; today more Indians want to invest in properties abroad in a post-pandemic world. With many Indians looking to invest overseas — as residents or citizens with passports — in 2020 there was a 63% increase in Indians looking to invest abroad. Knight Frank’s Wealth Report 2019 stated that 21% of Indian ultra-high net-worth individuals (HNIs) showed interest in purchasing homes overseas. Pointing to an interesting fact, Anuj Puri shared, “Depending on their purchasing power and exact purposes and plans in the target country, Indians may opt for affordable housing in the outskirts of main cities, compact office-cumresidences closer to the city centres or – in the case of the very wealthy – townhouses in the most aspirational neighbourhoods.” Larger margins attract HNIs Over the years the Indian rupee has seen a depreciation and the dollar is getting stronger against the rupee even today. According to Indian Wealth Report, 2019, the longterm average shows that INR has depreciated against the US dollar by about 4% per annum over the last 40 years. With the dollar appreciating, investing in overseas real estate offers large margins for rental income. “It is primarily HNIs and UHNIs who are interested in investing overseas. HNI millennials have emerged as one of the biggest investors in luxury real estate, and the discernible reason for this is the desire to escape ordinary life. The rise of the elite working population in metro cities such as Delhi-NCR, Mumbai, Bangalore etc. has also motivated developers to come up with highbudgeted, grand-scale luxury buildings,” said the duo at YOURS Second Homes. But another interesting aspect is the skyrocketing prices of properties — especially bungalows — in India that today go to three-figure crore price tags. However smaller apartments in different parts of the world often come at a cheaper price. Anuj Puri provided another perspective, “The key reason for Indians looking beyond boundaries and buying a property is investment, followed closely by the aspiration of having a second home there and for selfconsumption due to business interests.With many opting to send their children abroad for studies nowadays, they prefer to buy a property in the concerned city.” Anuj Mr. Shravan Gupta, Co-Founder and CEO YOURS Second Homes further adds, “The numbers would be fairly steady with decent increase year-on-year. Further, the relaxed RBI norms also lures Indians to consider property buying abroad. For instance, in 2015,RBI doubled the Liberalised Remittance Scheme (LRS) for resident individuals to $2,50,000 annually. Many investors will elect to buy a property in a certain country if its property market sees a downturn and prices become attractive. We had seen this happening during the US subprime crisis, and more lately during the Brexit angst in the UK.” Some of the other major reasons driving Indians to overseas destinations is a slowdown in the Indian real estate market and better business opportunities, a better quality of life, along with children’s education. Hence buying commercial/residential property for investment purposes is emerging as key factor — be it holiday homes or apartments.With large-scale liberalization and globalization, aspirations have gone global, allowing Indians investing in real estate abroad for different reasons. Giving a clearer indication of the demographic Anuj Puri shared, “As of today, a considerable number of young Indians from the entrepreneurial set, the nouveau riche, those with settled families abroad and those with expected or existing business interests in a target country will consider buying a property abroad. Those ultra-rich Indians, say even celebrities and film stars whose children go out to study or otherwise as well are also buying properties outside in the respective country/city.” Post the pandemic experts have seen a change in preference for cities with Dubai and New York gaining a lot of attention. Dubai was not only the hub for travel during the pandemic but the ease of carrying business and relaxed covid guidelines caught the interest of many Indians looking to get a residency visa on the purchase of a 1 million DH property. Further the short flight duration and ease of accessibility make it more attractive. Most popular destinations to invest in abroad Oftentimes investing in international real estate is considered to be among the most viable form of investments given there is much less volatility. It is much more stable in terms of investment profits compared to other financial markets such as the stock market, where there is no guarantee of profits. Aside from this fact, what makes real estate investments a smart deal is the increase in demand for housing, given the population growth and increased tourism in 2022 alone. There are a number of reasons to invest in real estate abroad, however, rental investment is among the most popular reasons for individuals to invest in international real estate. While they do occasionally use the property as a holiday home, putting it up for rent when not in use, is the best way to earn back their investment, plus more. It is for this very reason that individuals who decide to invest in international properties, look at popular holiday destinations such as US, UK, UAE and other parts of Europe. UK and UAE alone have had some of the biggest investments over the years, with many international citizens, not just Indians buying properties here. Here are some of the top international destinations that Indians are investing in, and here’s why you should too. London London is one of the most popular cities in the world. In addition to being a preferred destination for work and education, it is also one of the top destinations for real estate. In fact, in 2018, London was voted the number one Anuj Puri, Chairman, ANAROCK Group 18|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 19

city in the world for real estate investment, according to the Knight Frank’s London Report. It did however take a turn in 2021 after Brexit, with the city slipping to number 4 rank, which continues till date. Although Brexit had a significant effect on the property market in London, London continues to maintain a relatively steady market, according to Halo Financial, a U.K.-based foreign exchange service. While several economies across the world suffered losses during the Covid pandemic, London maintained its economy, thanks to an influx of international investors and workers, which helped London maintain its spot among the most important financial centres in the world. London is a vibrant metropolis with some of the best hotels, office spaces, and restaurants, not to mention vibrant options for entertainment, art and culture adding to the traditional appeal of the city. This has led to London drawing in people from all across the world, making it one of the cities with the largest number of billionaires in the world, and a safe investment paradise for the world’s richest. Los Angeles It comes as no surprise that Los Angeles is regarded as the top destination for foreign investors in the US real estate market. The US by itself is a green flag for internationals in terms of career opportunities. While New York was for the longest time ranked as one of the best destinations to live in the world, it is no longer the only one. According to a survey conducted earlier this year by the Association of Foreign Investors in Real Estate, Los Angeles was voted one of the most desired destinations to live in. According to a report shared London Surkh Lal by Anjul Bhandai by Jones Lang LaSalle (JLL), international real estate investors bought over US $23 billion of value in LA real estate in 2017, while global real estate investors had a combined total of US $1.7 trillion. Los Angeles has the best return on investment compared to any other city in the world. This is because of the sky rocketing prices of properties in LA. The Los Angeles real estate market forecast shows the property value growth going from a median home value of us $413,000 in August 2012 to a daunting US $1 million a decade later. And so, people in the city prefer to rent out apartments rather than buy a property. This gives homeowners an opportunity to rent out apartments or be a part of online marketplaces like Airbnb that caters to tourists or others looking for short term accommodation. Finally, it is the picture-perfect neighbourhood that makes LA such a spirited city to live in.While most people think of Los Angeles as a superficial metropolitan area, it is much more than that. Sure, it has some of dizzying concentrations like the mellow brownstones, the soaring skyscrapers, not to mention some of the world’s best restaurants, galleries, museums and bars. But it also has some of the most soothing environments, pictureperfect beaches, parks and plenty of natural scapes that make you forget about the concrete jungle you’re in. Dubai The citywhere more is more,Dubai has become the “postpandemic investment destination” for citizens across the globe. In addition to being the quickest way to get a residency permit in UAE, Dubai tax-free lifestyle is what appeals to international citizens the most. Upon buying property in Dubai, owners need not worry about tax, as the Emirates has no annual property t x, income t x or 20|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 21

Los Angeles Dubai capital gains tax, making it the best city to invest in real estate. The only payment owners will carry out will be the one-off property transactions and registration fees. Buying and selling property in Dubai is a much easier process compared to any other city in the world thanks to the government of UAE government rolling out measures to make the process simple and convenient especially for emigrants. And although buying property in Dubai is seen as a better option, the rental-market continues to boom because of the rampant tourism. Like LA, Dubai is one of the top tourist destinations in the UAE. Annually, the city attracts as many as 17 million people, with a stable market despite the pandemic. According to Dubai Economy and Tourism (DET), there were as many as there were as many as US $5.5 million tourist visits despite the pandemic; during the first seven month of 2022, the DET reported 8.1 million international visitors. In such, renting out homes or providing Airbnb services is just as much a viable option in Dubai, helping homeowners earn great profits on their investments. With the advent of the short-term rentals market, property owners are now presented with the option to gain a good return on their property that exceeds a 6% net rental return. The quality of life in Dubai is another promising trait of the city. Dubai excellent quality of life, worldclass infrastructure, top-quality dining venues, beautiful natural locations, connectivity, and state-of-the-art entertainment and recreational facilities, are what make the city such an attractive spot for international buyers. Factors to keep in mind while investing aboard While investing overseas does seem attractive to many, it doesn’t come without a word of caution. If you do decide to invest overseas, it is imperative to follow the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India guidelines which state that $250,000 per person is the upper limit that you can invest in a year and your property price can’t exceed that. Another thing to keep in mind is the income tax implication on the returns and investments you make in the global market — it is a mandate to by the tax laws of both India and the country you are buying the property in. “Large township offerings, luxury condominiums, villas, second homes or holiday homes, and luxurious plotted developments are ranked as some of the most wanted luxury properties,” quoted Mr. Sudeep Chandran, Co-Founder and COO, YOURS Second Homes. 22|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 23

Luxury homes, by themselves, have a quality factor to them. Add to that the ‘celebrity’ tag and you have a fancy home with an added star appeal. Celebrity-owned homes are the ‘it’ properties in the real estate world. While these, without a doubt, come with a hefty price tag, they also have significant character, and usually come wellfurnished with everything one could possibly need, and so much more. Leaving behind the average appeal of a regular home, celebrities have a knack for sprucing up their homes with the best of modern luxuries, adding in state-of-theart rooms like theatres, gyms and yoga rooms, bars, spa facilities and more. Most of the time, when listing their homes, celebrities leave in all of these luxury amenities, so buying a celebrity home is a complete deal. If you’re thinking about investing in a pre-owned celebrity home, here are some of the trendiest properties on the market right now. Boy George One of the oldest properties on this list is this spectacular Grade II-listed property (a type of historic designation in the UK) previously owned by English singer Boy George. The 5,453 sq. ft. Gothic mansion dates back to the 1800s. The original building, titled “The Logs,” was built in 1868 by Charles Till based on designs by JS Nightingale. It was built as a home for wealthy civil engineer and developer Edward Gotto. The original building had been split into multiple properties, some of which were owned by well-known personalities, including British actor and comedian Marty Feldman and English singer Sam Smith. Boy George, who bought the house in 1988, converted the properties into a single home once again, before listing it for a price of US $19 million. The massive, eccentric mansion is spread across six bedrooms — five of which come with their own dressing rooms — and five bathrooms, along with four reception rooms, a cinema, and a meditation room. One of the bedrooms in the mansion boasts a giant glass top for a ceiling offering a spectacular starry night view. In another corner of the house is a mellow living room decorated with monochromatic décor, taupe-coloured furnishing, eccentric artwork, and a DJ table to spruce up the space. A glass-walled corridor connects the living room to the kitchen, another vibrant space decked up with floor-to-ceiling glass walls offering both indoor and outdoor terrace dining; the outdoor dining area is of course the preferable one given the comforting natural ambience. Other spaces like the cinema, meditation room and the many receptions boast a similar minimalistic venue with light hues and glass openings to let in as much light as possible. Other highlights include a windowless mezzanine-level snug in which the TV is set on a marble platform in the massive fireplace, a ground-floor laundry room gussied up with bright yellow paint, and a tripleheight central hall, a dramatic central staircase. BY SCHENELLE DSOUZA If you’re looking for a fancy new home, here are some uber luxurious celebrity homes on the market Luxury celebrity homes on the market Boy George CELEBRITY ABODES 24|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 25

Boy George Boy George Boy George Ciara and Russel Wilson Parting ways with the town of Seattle, former Seattle Seahawks quarterback Russell Wilson and his wife singer Ciara listed their stunning beachfront mansion in Bellevue for a whopping US $36 million. Touted to be the most expensive property for sale in Bellevue at the moment, the hefty price tag is justified given the massive 11,104-square-foot space. Combining opulent design with elegant interiors, the signature waterfront estate is divided into six bedrooms, seven bathrooms and features other luxe spaces such as a cinema, a dance/yoga studio, a recording studio, a sports court, a playground, and a four-boat dock among other things. The dramatic spiral staircase and crystal chandelier are a welcome treat for those walking through the two-storey front entrance. The mansion is divided into three floors. The main floor comprises two dining spaces, an epicurean kitchen that stretches onto the patio, and a pro gym that follows an all-back theme and is filled with pretty much every piece of equipment possible. On the second floor, there is the master bedroom that stretches across the entire east wing. There are three more en-suite bedrooms located on the second floor, all with a more or less similar design, each one boasting pristine views of the Lake Washington from their respective balconies. The lower level is the party hub of the mansion with a plush game room and home theatre along with the yoga studio and recording studio. While the inside is as glamorous as canbe,theexterior does not hold back either. The property comes with one of the most impressive treehouses one might ever see. Perched behind the main property, the treehouse boasts a modern yet whimsical design with turf-covered walls, Ciara and Russel Wilson 26|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 27

Ciara and Russel Wilson Ciara and Russel Wilson a dormer roof and a spiral staircase. While quirky on the outside, the inside of the impressive treehouse is cosy with a faux fur carpet, plush cushions, and a spectacular view of the lake. Since the mansion sits on a hill, getting down to the dock or the main waterfront area can be carried out via a cable tram which was installed by the celebrity couple themselves. Sugar Ray Leonard It’s round three for global boxing legend Sugar Ray Leonard’s Florentine villa-inspired home in Southern California.The extravagant mega-mansion was originally listed three years ago for US $52 million, and re-listed last year at a discounted rate of US $46.5 million. Lowering the price, a little further, the boxing star has once again re-listed his mansion, this time for an asking price of US $45 million. Leonard and his wife Bernadette purchased what was then two different properties side by side, in the year 1993 and converted it into the mega mansion it is today. After being purchased, the mansion was designed by renowned architect Richard Landry who is well known for his period-esque mansions that boast only the most dramatic detailing. The architect was asked to custom design the elaborately embellished, vine-encrusted residence which earned it the title of a “Florentine inspired villa.” Spread across approximately 17,000 square feet, the mega-mansion has a total of eight bedrooms and 15 bathrooms. Additionally, the indoor areas include spaces like a formal dining room, multiple lounge areas, an office, a gym, and a theatre, while the outdoors features a private tennis court, a golf course, and a massive garden area. What makes the home such an impressive property is the number of custom features that stand out in the minimally designed, neutral toned space. Elements like the exposed wooden beam ceilings, ornate tile flooring, castle-esque oil paintings and tapestries, and gigantic, wood-trimmed arched windows add character the space, something that is hard to find in properties today. The two-story family room, like most of the home, is a lightfilled retreat with gorgeous glass doors and soaring ceilings. Most of the rooms resemble each other in terms of décor and design, keeping it minimal yet elegant, Sugar Ray Leonard 28|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 29

Sugar Ray Leonard Sugar Ray Leonard while offering a tinge of unique pieces in the form of artworks or statement décor pieces. The view from each bedroom is the blanket of lush landscapes — enormous trees, plantings and manicured gardens. Hidden within these lush landscapes, the stately manicured grounds offer a parking lot-sized motor court, sun-soaked southfacing terraces, great sweeps of lawn bordered bymature plantings, a stunning oval swimming pool, a tree-shaded putting green, and a lighted tennis court. Trevor Noah The Tonight Show’s host Trevor Noah is ready for a whole new beginning. In addition to announcing his departure from the show, Noah has also enlisted his chic Manhattan penthouse for US $13 million. Like most of Manhattan’s luxe properties, Noah’s duplex comes with a sprawling view of the city, offering seclusion and privacy, given the height of the building. Occupying the 17th and 18th floors of Manhattan’s century-old Stella Tower, the threebedroom apartment is spread across 3,596-square-feet, along with an extra 1,000-square-feet in the form of a spacious private terrace. Despite its modern, minimalist aesthetic, the home features quite a few eloquent details like cast metal archways, double French doors, oak and limestone flooring and marble accents which add a certain flair to the space. The best part about the home, aside from its splendid views, is the airy ambience. Noah made sure to keep his home stylish yet uncluttered. That along with the massive 15-foot floor-to-ceiling windows lets in plenty of daylight, giving it a bright, airy, and comforting vibe. A black floating staircase, leading to the upper floor is another impressive element. Unlike most homes that feature the entertainment zones in the lower levels, Noah’s home keeps the entertainment on top along with the main living areas like the living and dining areas. The dining room and kitchen sits in one large space, with a 12-seater dining table, and a custom chef’s kitchen featuring state of the art appliances such as a Sub-Zero refrigerator, a Wolf range and induction stove top, two Gaggenau dishwashers, a steam oven and a microwave, and a wine fridge and pantry. The roof-top terrace has to be one of the biggest highlights of the apartment. Connected to the sunroof via a set of double French doors, the spacious terrace features a plunge pool, wet bar and dining table that is perfect for outdoor events, not to mention the view! The lower level includes the bedrooms, one of which is currently set up as a swanky home theatre with theatre-style automatic chairs and 100% wool Holland & Sherry upholstered walls for an authentic theatre experience from home. The primary suite offers its own private foyer, a hand-rubbed Cortina leather wall and dual dressing rooms. In the principal bathroom, you will find a steam shower, soaking tub, heated limestone floors and marble vanities. Trevor Noah Trevor Noah 30|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 31

BY SCHENELLE DSOUZA AND JADE CRASTO Luxury home designs in metropolitan cities The latest avant garde homes in India’s biggest cities from Mumbai, Delhi, Bengaluru to Pune Mumbai BNK Group A project partnership with actress/designer Neelam Kothari, BNK Group’s latest project 49 Avigna is a spectacular South Mumbai residence located in the commercial district of Lower Parel. Built for a family of three generations, the home is spread across 3,800 sq. ft. with an additional 1,200 sq. ft. of exterior space in the form of a sweeping deck and a balcony. Although contemporary in its approach, the home beautifully combines an opulent yet elegant persona. The living and dining areas are among the biggest highlights of this home. The dining area features a customised metal screen for added space and privacy, with bright colours splashed in subtle elements, creating a vibrant yet muted colour palette. The family home is designed for three different generations, and each bedroom reflects a different personality, resembling the respective occupants. However, each of them maintains symmetry through the common use of materials and textures that flow into each space, creating a sense of connection and oneness. While inspired by influences that are firmly rooted in both Indian culture and Universal Art Deco styles, this residence showcases both heritage and contemporary craftsmanship at its finest. It has woodwork by local artisans but also modern brass furniture and mirror installations which play with natural light to amplify both the interiors and the stunning vistas of the Mumbai Skyline. While art and colour play a huge role in enlivening the apartment, Neelam Kothari added hints of her jewellery design sensibilities giving the apartment a certain panache. KNS Architects With a unique character and design, this 2,000 sq. ft. apartment in Mumbai displays a masterful interplay of colours and textures. Straying away from the overly done minimalistic abodes in Mumbai, this home features a warmer palette of colours with hints of gold spread all over in the form of furniture, décor and other embellishments. A golden-hued metal sheet with an embossed water ripple effect creates a sort of canopy welcoming people into the home. The warm colour tones make an LUXURY HOMES 32|L U X E B O O K|N O V E MB E R 2 0 2 2 BNK Group N O V E MB E R 2 0 2 2 |L U X E B O O K| 33 KNS Architects

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