Realty Companies Like DLF, 3C Company and Others Tee Off to Lure Buyers, Buy City Golf Teams

3C Company

NEW DELHI & BANGALORE: Real estate developers are now game for launching golf tournaments, a move aimed at deepening their association with the sport that they believe is getting increasingly popular among prospective buyers across the country.
Firms including the DLF, The 3C Company, Shubhkamna-Advert, Ansal API, Puravankara, Oxford group and Navratna Developers own eight of the ten city teams that are readying to play a national golf league, on the lines of the IPL, called the Louis Philippe Cup.
“It will help us in marketing Gurgaon and DLF,” says Aakash Ohri, director of DLF Golf Resort. DLF owns the Gurgaon team. “Golf is a great catalyst for business worldwide.”
Developers have been building golf courses for several years to enhance the appeal of their high-end residential projects, but now they are betting bigger on the growing popularity of the sport.
“It will help position our golf project better,” says Piyush Tiwari, director of Shubkamna-Advert Group. The group owns the Noida team, which has roped in professional golfer Jeev Milkha Singh, and is planning to launch a golf-based project on the Noida-Greater Noida expressway.
Standalone golf courses are expensive to build and maintain, so companies sell real estate around the course to pay for it. DLF, Ansal API and Navratna already own golf courses in Delhi, Lucknow and Ahmedabad. Others like Shubhkamna-Advert, Oxford group and The 3C Company are in the process of building golf-centric real estate projects.
“There is a strong relationship between golf and real estate,” says Rishi Narain, owner of Rishi Narain Golf Management, which is organising the city-based pro golf league.
Each of the 10 sponsors in the Louis Philippe Cup has paid between Rs 30-50 lakh to own a team.
DLF, which has been associated with golf for several years, already organises the DLF Masters golf tournament while Puravankara, which owns the Bangalore team, has been associated with the Touche Golf League and Ryder Cup.
Bangalore-based Prestige Estate, which recently opened its Prestige Golfshire at the foothills of Nandi Hills, is also organising a golf tournament. “We will be calling potential golf club members for the event and will also showcase our property,” says Faiz Rezwan, executive director, Prestige Estate Projects.
According to industry estimates, nearly 50 golf-based real estate projects are coming up across the country.
“A golf course, with full-scale clubs and recreation, enhances value and adds an upscale lifestyle to a project,” says Sanjay Dutt, chief executive officer, business at international property consultancy Jones Lang LaSalle, “This improves the positioning and helps command a premium from buyers.”
Source- ET Realty


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