Home & Art by India Sotheby's International Realty by India Sothebys Realty

Falling in Love with a Tuscan Wine Estate

A Walkthrough Lutyen’s Delhi, Country’s Hottest Zip Code

Responsibility of Royal

Living in Modern Times

The Explosive Gourmet Desserts by Cold Love

Home &Art Spring 2022

WELCOME TO THE SPRING EDITION OF HOME & ART

or a long time, I have had a desire for our India SIR office to curate an exceptional lifestyle magazine dedicated to fine homes and soul uplifting art. Business

growth though, took us by storm for the first few years and the idea of the magazine didn’t quite take shape. Until now. Two things finally made it happen. The home reclaimed our lives as the most loved place to be in as we navigated a once in a lifetime pandemic. Luxury buyers across the globe and in India upgraded, moved, and bought residences. Every corner of our homes started to matter. It seemed like a perfect time to bring a magazine that inspires us to fill the spaces we share with our loved ones, with joy and beauty. While having a vision is wonderful, you need someone to shape it and bring it to

Amit Goyal

CEO, India Sotheby’s International Realty

fruition. In Manisha we found that someone. Her bottomless curiosity and ability to take on new challenges, has led to a debut edition we’re truly proud of. Hope you savour these thoughtfully curated stories of inspiring people, homes and art.

t’s not easy to step out of one’s comfort zone of business writing and take on the task of creating a world class lifestyle magazine for an iconic brand. Yet, when

I found myself working with a leader who doesn’t have the word “impossible” in his dictionary, I simply had to step up to the challenge.

I’ve enjoyed every bit of the experience, especially the agony and ecstasy which precedes one’s first born. I couldn’t have done it alone . A big shout out to Akash Puri, Aditya Vir Roy and Roasie Virq from the SIR team, for pitching in. A special thanks to all our contributors who are leaders of repute in their respective fields. I remain ever grateful to Jai Sharma, one of India’s most experienced print designers, for patiently teaching me the nuances of creating a magazine. With Home & Art, we wanted to celebrate a world coming out of a soul changing experience. And what better way to do it than to honour the closeness we have rebuilt with our homes. Our stories toast the spirit of creativity, better living and exceptional people. So flip on and catch our special conversations with India’s beloved artists Paresh Maity, purpose driven royal lady Radhika Raje Gaekwad, an MBA turned ice cream maker Aditya Tripathi, the Michelin star chef Suvir Saran, and much more. MANISHA NATRAJAN

Editor, Home & Art

SPRING 2022

We’d love your feedback to make our Autumn edition even more smashing. Drop us a line at editor@sothebysrealty.in

| THIS ISSUE |

Contents

06 12 SPRING

2022

Interiors

Conscious Luxury by Mangrove Collective “Craft is the visible edge of art” – this poetic line gives a glimpse into the very soul of this furniture and interiors design firm. by Aditya Vir Roy

Design & Production Asia Media Design

Masters

Golf Living

BORN AN ARTIST: PARESH MAITY

King Size Golf Living The pandemic has not only hardened the desire to live around green, open spaces, there's been a boom in golf living. We travel through India's top real estate projects with golf courses to die for.

Maity’s rags to artist adventure excites with a body of work that reflects a constellation of creations. by Manisha Natrajan

by Amitoj Singh

Splendour

Luxury Living in Colombo Sapphire Residences comprises only 132 expansive Sky Mansions and Penthouses that offer some of the best views in the city. by Chris Graham

Gourmet | Eminence | Art

Lifestyle | Destination

With Nature | Wealth

18 Cold Love Turns Warm! : A hopeless love

40 The Crème de la

56 The Himalayan Home : Owning a slice of heaven in the hills.

affair of a hot shot corporate type with the world’s most loved dessert - ice cream.

Cover Spiral metal staircase that 'Mangrove Collective' executed for one of their clients

64 72

Crème of Italian Wine : Get to know Italian wines.

22 The Royal Living : A conversation with Her

44 MALTA : What makes this hidden island a

26 Sotheby's Auction: Best of South Asian

48 Goa : Rules the roost for a second home

32 A Walkthrough Lutyen's Delhi : Why it’s still

53 A House Ornamented With Art : A blend of

Highness Maharani Radhikaraje Gaekwad. Modern and Contemporary Art.

India’s hottest zip code to own homes in.

60 Sustainable Homes : Five must do's to make your home net-zero. 62 Estate Planning : For wealth to pay and stay.

great choice for a home in Europe.

64 The King Size Golf Living :

A voyage across India’s golf-living.

destination.

70 Nothing Compares : Sotheby’s digital capabilities. 78 Listings : Fine homes and properties for sale.

contemporary and classic aesthetics.

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| INTERIORS |

Conscious Luxury by Mangrove Collective “Craft is the visible edge of art” – this poetic line borrowed from the website mangrovecollective.in, gives us a glimpse into the very soul of this furniture and interiors design firm. | by Aditya Vir Roy

'Earth and Glass House'

I The staircase needed to be a dramatic focal point to the house which stresses on integrating the indoor and outdoor spaces into a cohesive, organic whole

Sharika Sharma

In-charge, brand-building and business development

f bespoke, handcrafted, conscious furniture is what you’re searching for, carve out some time to visit the Delhi - based furniture design company Mangrove Collective studio cum workshop. Barring the lunch hour, you will find this state-of-the-art, 30,000 square feet furniture studio buzzing, quite literally, with the sound of lathes and power tools. The word 'collective' is used advisedly and is not just tagged on to be trendy: It reflects the very collaborative effort that is the lifeblood and the very heart of the brand. The lead designers work seamlessly with skilled craftsmen, to

create customized furniture, millworks and accessories. Traditional Indian art forms are fused into modern designs, to create unique pieces and inspiring homes. As Suman Sharma a NID trained furniture designer and one of the founding members of the core team behind the Mangrove Collective articulates, “You can often find someone who’s a great wood or metal worker or works in the craft sector or somebody else who has a kickass set up in terms of machinery and technology, but when you want to marry it all into one finished product, it becomes very hard. That’s where we step in”. A perfect example of this marriage is a wooden console with carved detailing that has laser effect edges but is hand-stained to create an ombre effect. A metal lamp hanging in a corner was hand-shaped by a family of Thathera metalworkers who traditionally made brass bartans or pots and pans. The declining demand for their kitchenware has sounded the death knell for this skilled community with only two families left, practising the art. Pointing to a piece created in collaboration with the Thatera craftsmen, Suman adds, “While this lamp is hand shaped and uses traditional patterns, the rim is laser cut so that the finished product can sit proudly anywhere in the world.” The backstory of how Mangrove Collective was born is equally interesting. When the award-winning architect and founder of Studio Lotus, Ambrish Arora, tried to marry Indian crafts for modern designs, he found a big gap between his design-scape and the artisans who could translate his vision into substance. And so, in 2015, Mangrove Collective was set up, of which he is chief mentor. Led by a team of passion - driven, experienced furniture designers, the Main living room of ‘Earth and Glass House' |

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| INTERIORS |

the techniques I know into our projects. This often involves a process of reskilling ancient techniques and creating a modern product that retains its essential character.” Exemplifying this philosophy is a breathtaking spiral metal staircase that Mangrove executed for one of their clients. A central feature in the ‘Earth and Glass House’, the staircase is not just functional but serves as a stand-alone art installation. “We’ve gone beyond what just machines can do by bringing hand-work and detailing on the railings,” Kullu adds. Sharika Sharma, who looks after brand-building and business development as well as craftsman intervention explains the concept of this signature residential project, “The staircase needed to be a dramatic focal point to the house which stresses on integrating the indoor and outdoor spaces into a cohesive, organic whole. Everything is very earthy and organic, from the textiles used for the furnishings and the staircase itself is conceived as rising from the earth.” Mangrove approached an artisan who has worked extensively with the Delhi Crafts Council to develop the concept behind the piece. Interestingly, he leads a team of only women workers; from the welders, and polishers to those handling the metal casting. What’s even more noteworthy is that the

references the ancient art of “naqashi” carving. The chair brings to life the ageold skill of pine needle weaving—traditionally used to make small baskets and bangles from the Kangra valley in Himachal Pradesh.

Wooden dining table by Mangrove Collective

Sensibilities are now shifting. Mangrove Collective has been key in reimagining and giving definition to the "Make In India" changing pride. 8

| Wooden cabinet

thought behind the brand was and remains, to curate the best of traditional Indian skill to create products that are not only beautiful but enduring and sustainable. Mangrove Collective positions itself as a lifestyle company that remains uniquely Indian yet international, with equal emphasis on ‘hand’, technology, design, art and craft. Arun Kullu, the other founding member of Mangrove who leads the design team, spends most of his time on the workshop floor, pouring over the designs in motion. He elaborates, “While we focus on using mixed materials and skills, one of our core strengths is metalwork—my own personal favourite—and I try wherever possible to inject

| Pine Needle Table

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| INTERIORS |

Jenga Bar

entire piece is hand cast and was fabricated during Covid times, Sharika further shares. Over the last decade, for the elite in Indian metros, flying in statement furniture and designer pieces from Italy, London or Thailand, was par for the course. Sensibilities are now shifting. Mangrove Collective has been key in reimagining and giving definition to the "Make In India" changing pride. Its clientele is a unique cluster of discerning customers who want something that nobody else has—a product that has its own story. As Suman explains, “The process and technique behind the product, what makes it unique, this is what people buy into and the Indian client has reached this level of appreciation and sensibility.” And speaking of sensibility, back in the ‘Earth and Glass House’, Mangrove has created a stunning bar combining seamlessly, two very different materials - concrete slabs and brass. Christened ‘The Jenga Bar’, an obvious reference to the game, the client had a simple brief: A bar that could

‘The Jenga Bar’ is an outstanding example of blending utility and creativity and reflects Arun Kullu’s love for metals. be dressed up or dressed down to suit the occasion. Cut out squares were created to light up a festive evening with 100 plus candles or go for a more subtle lunch decor by placing flowers of the season. This bar is an outstanding example of blending utility and creativity and reflects the head designer, Kullu’s love for metals. The use of sustainable and natural materials can be found liberally in the projects and work done by this remarkable team. Take the featured ‘Earth and Glass House’. In one

corner, a wooden cabinet references the ancient art of “naqashi” carving; and an occasional chair made of pine needles carries multiple narratives. The chair brings to life the age-old skill of pine needle weaving—traditionally used to make small baskets and bangles from the Kangra valley in Himachal Pradesh. It is also a powerful story of women's empowerment. As elsewhere in rural India, here too, women primarily collect firewood and fodder, so when Mangrove was looking for an idea for sustainable furniture,

it reached out to these skilled craftswomen. A process of trial and error followed and as Sharika says, “It’s quite amazing how a random small thought can start somewhere and lead to a finished product, eclectic enough to fit in with different décors.” Wrapping up Mangrove Collective’s USP, Suman says “We are here to translate the client’s vision. We don’t want to impose our thoughts; we want to be part of the client’s experience. We are here to adapt, suggest, refine and

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value-engineer our client’s vision. Likeminded designers, architects and clients find in us the ability to take a thought and convert it into reality”. We are a “design and build” company and that is our biggest skill- to feed into thought and give it shape.” Kullu sums it up evocatively, “The best part of my job is the translation of 2-D thinking vision into 3-D objects that require the challenge of balancing aesthetic aspiration, locally available skills, efficiency and consistency of quality.”

| T he Jenga Bar: Cut out

squares were created to light up a festive evening with 100 plus candles or go for a more subtle lunch decor with placing flowers of the season.

| MASTERS |

| Passage Through Life | 5 ft x 15ft (Oil Acrylic on canvas) 2021

Born an Artist: Paresh Maity

Maity’s rags to artist adventure excites with a body of work that reflects a constellation of creations, sometimes painted, sometimes sculpted, sometimes as awe-inspiring installations, making him not just a magical artist wearing several hats, but also a passionate journey man who has imbibed local with the global, with equal aplomb. by Manisha Natarajan | Many Rupa of Paradise 6 ft x 6 ft (Oil on Canvas) 2017

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| MASTERS |

| Eternal Nature 4 ft x 4 ft (Oil on canvas) 2006

| 'Motion' Installation

(2018): Motor bike parts, old ceiling fan blades, lights. (Displayed on Wall) Size: 18 ft x 30ft

“

t was clear to me at age seven,” said Paresh Maity, now 57. “I was going to be an artist.” It’s a tad bit unbelievable. And then, how can an interviewer, trained to scrutinize, believe that? Until you hear the rest of the story. Born in Tamluk, a tiny town about two hours from Kolkata, Maity got his hands dirty with clay modelling at age seven. By 18 he was waking up at 5 am, taking cold showers, and traversing a four hour journey back and forth, on foot and if lucky, on a bus or hitchhiking on a passing truck, to crystallise his dream of an education at the Government College of Art & Craft. That’s when he sold his first work of three watercolours to the Gallery Chemould in Kolkata for Rs 75 each ($7 approx. at the time). In the next four decades he made the world his home, travelling everywhere from Varanasi to Venice (27 times). His canvass of work comprises sought-after water colours, photos, sculptures, films and pieces, displayed in over 80 solo exhibitions. Arguably, his

magnum opus is not only Indias longest, but also amongst the world's longest paintings at 850 feet. The art legend accumulated countless awards including the Padma Shri, one of India’s highest civilian awards. By his own admission, amongst the most memorable of his stays was an invitation by the President of India to experience Rashtrapati Bhavan (President’s Estate) for two weeks. The then President, Mr. Pranab Mukherjee, complained that Maity spent too much time painting at his estate, instead of experiencing it! The art has never stopped on the rags to art folklore journey. Even today, the day begins and ends with art. He paints or creates every day. “I believe we have no holidays. The brain is always working.” It helps that his wife Jayasri Burman, also an acclaimed artist, does her own thing. “After breakfast, at least I know that I am not bothered about her since she too is painting. And our styles are as different as the North and South Pole.”

Such comfortable creative synchronisation is rare to strike for a first-generation artist. While his wife comes from a family of luminary artists, Paresh Maity’s own family had no artistic background before him. In fact, his family assumed that Maity was on an “impossible” career journey, one that would make him “die hungry on the streets.” Today, Maity is arguably India’s most talented contemporary artist. In 2021, the Hurun Research Institute, a gold standard on research-based recognition, ranked the Top 50 living Indian artists by the sales of their works sold at public auctions. Maity’s works gained the most, a 122% increase in the sale value of artworks mentioned in the Hurun India Art List 2021.

5000 years of art to the pandemic

While Maity’s art continues to evolve its own distinct vocabulary, the artist in him reflects on the 5000 years of art heritage in India.

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“From the civilizations of Harappa and Mohenjo-daro, “the most powerful” tribal and folk art, Ajanta and Ellora caves, to art under the patronage of Kings and Maharajas, Maity exclaims “there is so much art in India. Art is everywhere.” Maity’s definition of contemporary Indian art starts with Raja Ravi Varma (one of India’s greatest painters) in the late 19th century. However, he believes Indian contemporary art mostly took off in the last 30 years, when the “evolution and interaction was massive” and continues to “expand every day in a big way.” “People in India are understanding art now because the whole world is in your hand. It’s like a village, and so people have started appreciating contemporary art. And this is increasing daily. Even if you say contemporary, Indian art is very strong, dynamic and sometimes I feel, better than art anywhere in the world.” The future too is in great hands because “there is an artist in every corner of India, every village, and they are very strong.” Maity worries a little about the institutional support needed for Indian artists to get them the right exposure, museums, and art colleges. But he remains bullish about the promise saying “artists are everywhere and have flooded the Indian scene.” The pandemic might have been a monetary blow for artists but for Maity personally “It was uninterrupted time which allowed me to avoid the travel, the hustle and bustle in order to concentrate on creating and exploring.” He believes several artists across the world took advantage of that by allowing “The mind to do the traveling, creating a

| MASTERS | | A Mystic Journey | Size: 55'' x 96'' (Water colour on Fabiano Board) , 2011

I’ve come across so many amazing people in my life, who have contributed profoundly to my growth. I always kept my window open, eager to learn from their thoughts, ideas, and the good in them

Paresh Maity

| Venice Skyline | Size: 40'' x 40'' (Watercolour on Paper) 2001

very deep thought process to emerge with a new language, medium, and subsect.”

Those who inspired. Those who left impressions

Pre-pandemic, Maity was a jet-setting artist, sometimes in Japan, sometimes in Venice or Paris. His inspirations though were always greatly drawn from nature. He grew up around a green field, a river, and a canal and so the natural progression towards landscape paintings. His travels were moments of educational serendipity, adding to his love for nature in his artistic imagination. “1990 was the first time I travelled to Europe. And in London, after visiting the National Gallery in Trafalgar Square, I saw the works of JMW Turner and John Constable that inspired me greatly.” Turner and Constable were English landscape painters, exponents of romanticism, rivals of the late 1700s and early 1800s, whose work is inspired by nature. Colliding with Pablo Picasso’s work was another hap-

penstance that shaped some of his latter work. “When I went to Paris for about two weeks, suddenly I found a museum, a Picasso museum. Since then, I could not believe how my brain was moving. It wanted something new. That’s how very strong lines of Picasso slowly came into my art. Today when I do figurative painting, the concept leans towards Picasso.” Legendary painters aside, Maity gets emotional talking about celebrities and friends who’ve been inspirations and major influences. “An unlimited number of people have greatly impacted my life,” says Maity. Nemai Ghosh, a legendary photographer and one of India’s most enigmatic artists stands out for Maity. Together they've travelled to more than 20 places, creating 5,000 plus iconic photographs in black and white. “He was my senior, a great gentleman, and a photographer. I can never forget his advice, his conversations. I have no words to express. It is very sad that he is no longer with us.”

Maity also mentions the late C.R. Irani, the Editor in Chief of the Statesman, calling him one of the greatest journalists, and reminiscing how he was very close to him too. “I’ve come across so many amazing people in my life, who have contributed profoundly to my growth. I always kept my window open, eager to learn from their thoughts, ideas, and the good in them.” The one Indian city that beckons the traveller in him, year after year, is Varanasi. Formerly known as Benares, this spiritual city situated on a bend of the mighty river Ganges, has the power to move Maity like no other. “I am transported to another world every time I go there. There is something magical about the city. There’s a vibe and energy very different from any other city of the world,” he says, recounting his profound love for Varanasi. He also treasures his memories of Kolkata and the creative spark the city of joy gives him, every time he visits. “I was 12 years old when I first visited Kolkata. It was with my father. Even today, after so many years, I could look anywhere in the city and there is something new I want to capture. That constant unlimited energy makes it a 24-hour live theatre. I’ve been going to Kolkata for 37 years and the creative energy you get in that city to do your painting or photography is magical.”

The artist who never stops.

Exhibiting his work renews him, every time, offering an opportunity to create the new. Maity is already busy filling up the canvass, for the

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| M ystic Abode (Bell House) 2014

Size: Height: 145" Length: 175" Width: 103" Weight: Around 2 ton Medium: Brass Bell, Steel Bar and Metalic Paint.

four upcoming exhibitions at Delhi, Mumbai, Kolkata and Bengaluru in 2022. Asked how he handles so many exhibitions, he says, “well, this is just my 83rd and each one is more special than the other." What more could art lovers ask for?

| GOURMET |

Cold Love Turns Warm! There are a million ways a story can be written. This one though is a simple one. A hopeless love affair of a hot shot corporate type with the world’s most loved dessert - ice cream. by Manisha Natarajan [ Photography by Palak Mittal ]

t all began in the privacy of his kitchen. After exiting his tech start up, a slightly foot loose Aditya Tripathi went back to experimenting with something he loved to do even as a child - fiddling with his ice cream maker to churn out any flavour that his heart desired. What came out was delicious, all natural, to die-for ice cream in different flavours. He recounts with a smile “We started carrying some of the ice creams I was making to friend’s dinner parties. And a number of people started commenting on how good the ice cream was and that I should do something about it” The realisation that this was nothing but pure ‘Cold’ love struck Aditya, and he took his idea to a friend, Samir Kukreja, a veteran in the the F&B industry. A long time CEO of Nirula’s, Samir now an independent F&B consultant, and the head of the National Restaurants Association, was the ideal person to tie up with for a potential business idea. “There's definitely an opportunity in the upper end of the ice cream market. Let’s do this,” Samir expressed. The two came together to launch the artisanal ice cream brand “Cold Love”, in the last quarter of 2019. Winter was in the air, and the ice creams were a big hit at the Christmas fairs, validating the demand.

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| F rom left: Vardaan Marwah, Suvir Saran and Aditya Tripathi (in red)

at Suvir’s home office, the melting pot for new ideas.

| One of Cold Love’s staple flavours,

‘ Fresh Strawberry’.

| GOURMET |

What I loved about Aditya is that this is a man who graduated from India’s top MBA school and is now making ice cream. I love his commitment to quality and standards. We both aligned quickly on the vision that this could be much larger than just one box of ice cream

Suvir Saran

Internationally acclaimed and one of India’s most reputed Michelin star chefs

| Cold Love Fresh Mango (in focus) and Fresh Strawberry, complimented by the Love Bombs

Every dark cloud brings with it a silver lining. Cliched? Yes, totally. But the pandemic was that silver lining for this newbie ice cream brand.

Right at the start, plans were to launch a bunch of dessert cafes, which went awry with the world coming to a sudden pandemic standstill. By default, “Cold Love” became a direct-to-consumer home delivery model. Aditya and his driver donned the delivery man role to drop off the cool boxes in South Delhi neighbourhoods. In subsequent months, they built out a delivery network in other parts of Delhi as well. Every dark cloud brings with it a silver lining. Cliched? Yes, totally. But the pandemic was that silver lining for this newbie ice cream brand. Hot summer months, home locked families spending a ton of time on their phones. Large advertisers were still figuring a way to rework their

marketing spends. It was a perfect time for Cold Love to seize Instagram and Facebook. “For a very low outlay, we were getting good bang for our buck on the digital marketing front’, says Aditya. “Success is counted sweetest,” wrote Emily Dickson in 1859 and this lyrical line befits the rapid growth of Cold Love. It did not take the brand long to expand its footprint to five cafes across Delhi NCR, Hyderabad, Jaipur and Lucknow and jump on to the large food delivery platforms like Zomato. But hey! What’s a love story without a twist? In comes internationally acclaimed and one of India’s most reputed Michelin star chefs, Suvir Saran, pitching the idea of expanding the dessert range to beyond ice creams, to Aditya and Samir. “What I loved about Aditya is that this a man who graduated from India’s top MBA school and is now making ice cream. I love his commitment to quality and standards. We

both aligned quickly on the vision that this could be much larger than just one box of ice cream.” Suvir in turn roped in the youngest member of the team - Vardaan Marwah, a young chef de cuisine, with experience at The House of Celeste and Rooh restaurants to curate an entire dessert range, including warm ones. Enthusiastically, and with an almost childlike joy, Suvir takes us through what he envisioned, “Not just ice cream, but delicious things that are sweet, cold, hot, warming, comforting, and made with the Cold Love brand of integrity, quality, seasonal and regional ingredients.” The four are a perfect combination for this successful chain, with Suvir light heartedly explaining to us the work dynamics. “It was a no-brainer that we will work well together. I can rely on Aditya for delivering quality with vision and creativity and keep the finances in order. Samir understands the nitty-gritty of the business. Vardaan has the talent, grit, sweat and muscle, and I can keep dreaming

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and snoozing and going off to bed!” Being the creative genius that he is, Suvir came up with the concept of the “Love Bombs,” mithai style, bite sized dessert in a box. “I call them bonbons on steroids,” Suvir adds, as he gets us to sample these delicious balls filled with ice cream. These are nothing less than an explosion of flavours in your mouth as varied as Kesar Pista Cranberry Bomb, Black and Gold Bomb, Sparkling Orange Bomb, and even an Italian Berry Bomb. The idea though, is to bring in plenty of warm love into the lives of dessert lovers. The quaint little Vasant Vihar café is home to the “Warm Love” winter menu. Hot chocolate with homemade marshmallows, warm apple pie cakes and a ‘Knafeh’ semolina pudding with a mozzarella filling, are a smattering of the delectables one can enjoy here. There’s no love without lofty goals. Suvir, fairly peeved by the overseas dessert and ice cream brands in India, which assume that Indians don't care about quality says, “Aditya, Vardaan, Samir and I are set in our belief that we will deliver quality only when we can deliver it at the right price with all the right standards.” “We're getting plenty of great feedback. Of course some desserts work better than others. So we know what to spend time on. We haven't really done any massive marketing or PR, but once we get it all right for the summer and the winter of 2022, we will roll out a big line of dessert cafes, pan India.” We, of course, are glued to this love story, curious to see how “cold love turns warm” pans out. Our gut says it has all the sweet ingredients for a happily ever after.

| eminence |

The Royal Living A conversation with Her Highness Maharani Radhikaraje Gaekwad, titular queen of the erstwhile royal state of Baroda, Gujarat. by Akash Puri

W Adorning the walls of Lakshmi Vilas, is the largest private collection of Raja Ravi Varma's in the world. Maharani counts the Laxmi and Saraswati painting, the Radha Madhav painting, and the portrait series of members of The Royal Family made by the great artist, as her personal favourites.

| Painting of Saraswati by Raja Ravi Verma.

hen you’re steeped in history, art, culture and are entrusted with the task of carrying forward centuries of tradition, seamlessly into a resurgent India, your hands are more than full. A conversation with Her Highness Maharani Radhikaraje Gaekwad, titular queen of the erstwhile royal state of Baroda, Gujarat, gives you a rare glimpse into the responsibility of royal living in modern times. “Traditions are very intangible, but they continue because you preserve them and pass them on. Whether it's the musicians who have played for generations for your family, or, the temple priest, and even the chefs who hold the secrets to royal recipes, you continue that patronage; and take care of them and the larger community. These connections with the people don’t die out for royal families”, reflects Maharani. “ Unlike an elected government whose responsibility and benevolence lasts usually in their 5 - year terms, royal rulers have had to uphold generational relationships, creating far deeper connections”, she adds. HH Radhikaraje Gaekwad embodies the very spirit of carrying forward traditions in myriad forms. She’s a renowned heritage conservationist, a textile revivalist, a history narrator and, a wildlife enthusiast. And she dons these multiple roles with as much aplomb, as she takes care of the spectacular Laxmi Vilas Palace that she calls home. Built by the legendary ruler, Maharaja Sayajirao Gaekwad III, the Lakshmi Vilas palace is an unmatched architectural landmark. The largest private residence in the world, only about 4 times the size of Buckingham Palace, this magnificent palace is spread over 500 acres of land. HH Radhikaraje recounts her experience of seeing the palace for the first time, as a young bride married to

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| Her Highness Maharani Radhikaraje Gaekwad.

Samarjitsinh Ranjitsinh Gaekwad , a descendant of the former ruling family of the princely state of Baroda. “ I knew the importance of Baroda as a state and as a principality, and its stellar lineage. But ours was an arranged marriage. I had not really seen any pictures of the palace. This was before the time of Google search! The very first time I saw it, I was floored at how beautiful Lakshmi Vilas is. It was all very exciting for me, with my background in history, and my love for museums and art” . Behind the awe - inspiring palace facade, lies a treasure trove of India’s finest art. Maharaja Sayajirao Gaekwad III, the great great grandfather of the current Maharaja Samarjit Singh Gaekwad is acknowledged as a prolific patron of the arts. He is also credited with making Baroda, an unmissable name in art and culture. Not only did Sayajirao invite Augusto Felici, a renowned sculptor and a painter from Italy to live at the royal palace, he also mentored one of the greatest painters in the history of Indian Art - Raja Ravi Varma. Adorning the walls of Lakshmi Vilas, is the largest private collection of Raja Ravi Verma’s in the world. Maharani

| eminence |

Sayajirao invited Augusto Felici, a renowned sculptor and a painter from Italy to live at the royal palace. He also mentored one of the greatest painters in the history of Indian Art - Raja Ravi Varma.

| Painting of Radha

Madhav by Raja Ravi Varma.

counts the Laxmi and Saraswati painting, the Radha Madhav painting, and the portrait series of members of The Royal Family made by the great artist, as her personal favourites. “The Tanjore girl”, a bronze sculptor made by Italian sculptor Augusto, is another work of art that is close to her heart. The palace itself is built in the revivalist Indo Saracenic style of the late 19th century, by two British Architects, Robert Chisholm and Major Charles Mant. This style of architecture draws elements from the native Indo Islamic and Indian architecture, combining them with the gothic revival and neoclassical styles of Victorian Britain. One can find Indian motifs chiseled into a predominantly European flooring; chandeliers and stained glass beautifully blended in with the Persian stone and lacquer works, each from a different part of the world, yet contemplating each other. Indeed a feast to the senses. "For me, the entrance of the palace holds a special place, because it was my first introduction to our home. It's like an atrium, two floors up, with chandeliers, frescoes, sculptures, and marble flooring of different colours. There’s just so much one sees as one enters. It's a lovely introduction to the palace for anyone walking in and a very welcoming space. You can hear the tinkling of the chandeliers because it’s a completely open space, allowing wind to come in from all directions. It’s a wonderful auditory and visual experience”. adds Maharani. Such is the timeless beauty of the palace, keeping it

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as is, has been her best decision. “I personally did not feel the need to tinker with any of the decor, other than, say, my personal space. The palace has a very distinct and set personality, and I also feel that there is a sanctity to how these places and spaces are planned. They look best just the way they are”. The family realised how even more special their home is, during the pandemic. “We came together as a family to deal with the lockdown. It gave us time to understand the children better. We took walks together in the vast expanse of the palace, went for swims together, and got so much joy out of simple things like playing a game of cards or watching a movie. We would dish out meals by ourselves. Our daughters were in charge of walking the dogs and feeding them. Having the entire place to ourselves, not expecting visitors, taking a break from a packed calendar, was very easy on the mind. I've never enjoyed the palace as much as I did in this lockdown.”. This time of crisis was also a reminder for the next gen, the two daughters of Radhikaraje and Samarjitsinh, that they must carry forward the royal legacy. “We have always told them, it’s not only the rituals and customs of the princely state, they need to imbibe. They have a responsibility to the people and must show compassion and sensitivity towards their legacy”, concludes Radhikaraje, who epitomises royal living of grace and empathy.

| Built by the legendary

ruler, Maharaja Sayajirao Gaekwad III, the Lakshmi Vilas palace is an unmatched architectural landmark.

| Painting of Laxmi

by Raja Ravi Varma.

| ART |

Sotheby's Modern & Contemporary South Asian Art New York, 21 March 2022 The stellar selection of works in this season’s Modern & Contemporary South Asian Art sale at Sotheby’s includes some of the biggest names in the field – FN Souza, MF Husain, Manjit Bawa and Jehangir Sabavala – along with lesser-known, accomplished artists who are yet to receive their due recognition.

Francis Newton Souza, The Castle (Oil on masonite board, 1957)

Price estimate: US$ 300,000 - 500,000

Manjit Bawa, Untitled (Sohni), (Oil on canvas, 1992)

Price estimate: US$ 300,000 - 500,000

Maqbool Fida Husain, Untitled (Horses), (Acrylic on canvas)

Price estimate: US$ 100,000 – 150,000

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| ART |

Sotheby's 2021 Highlights Modern & Contemporary South Asian

Bhupen Khakhar,

The Modern & Contemporary South Asian sales at Sotheby’s last year saw exceptional results. With a combined sale

Krishna Hotel

total of $14.5 million, 62.5% of lots selling over the high estimates, and 12 World Auction Records, these two sales have

Sold for: US$ 1,686,630

achieved strong returns for consignors and demonstrated the strength and growth of this global market.

(Lot 37)

Vasudeo S. Gaitonde, Untitled Sold for: US$ 1,956,000 (Lot 18)

Akbar Padamsee, Landscape

Jehangir Sabavala,

Sold for:

Lone Vigil

US$ 927,500

Sold for: US$ 721,800

(Lot 31)

(Lot 56)

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| ART |

Sotheby's Global Successes - Top Lots of 2021

Sandro Botticelli, Young Man Holding a Roundel Sold for: US$ 92,184,000

Claude Monet Le Bassin aux Sold for: US$ 70,353,000

Jean-Michel Basquiat

Jackson Pollock

Versus Medici

Number 17, 1951

Sold for: US$ 50,820,000

Sold for: US$ 61,161,000

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| INTERIOR |

he sun’s rays sneak through leaves and branches. Green dominates the colour spectrum captivatingly. Glorious white homes spring up like mushrooms now and then. The silence is uncharacteristic of Delhi, devoid of chaotic traffic. The blissful quiet is sometimes broken by playful parrots making guest appearances, up in the open sky, only to return to the vast camouflage on offer. The gorgeous peacock exhibits its colours in the middle of a discreet avenue stupefying onlookers. A walk in Lutyen's Delhi has a peacefully rapturous utopian effect. A dreamy seduction that begs the question – how wonderful would it be to own a home here? Words likely whispered by millions under their breath. Lutyen's Delhi is the oasis in an otherwise crowded Delhi and the most aspirational space to own a home. Buying a bungalow or an apartment here is an announcement to the world - “I’ve arrived”. The centerpiece of Lutyen's is | the 90-acre Lodhi Garden – the Central Park of Delhi. It invites you in with a 1.3-mile jogging loop, several eye-catching birds, water bodies, soothing flora, a promise of peace, and magnificent tombs. The garden-tombs from the Lodhi dynasty – Mohammed Shah's, Sikander Lodi’s, Shisha Gumbad (Glazed Dome), and the Bara Gumbad (Big Dome) offer an imposing architectural backdrop for a day out. The better-known tombs in Lutyen's though are Humayun and Safdarjung’s tombs. The Mughal era monuments are Delhi’s prized landmarks and heritage sites. Living within close proximity of these tombs is an unmatched elevation of social status. The British had envisioned this by design. They masterfully used the tombs as visual showpieces around which they built their new capital, leaving erstwhile

| T he sprawling 90 acre city park “Lodi Gardens.

A Walkthrough

Lutyen's Delhi India’s hottest zip code to own homes in.

Bungalow on Hailey Road,

Property ID: 2X5GJG on SIR.com

Lutyen's Delhi is the oasis in an otherwise crowded Delhi, buying a bungalow or an apartment here is an announcement to the world “I’ve arrived”

by Ashwin Chadha | B ungalow on Hailey Road, Property ID: 2X5GJG on SIR.com

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| Destination |

| A dding glamour and stature

to Lutyens are its several fivestar hotels – The Leela Palace, Oberoi, Taj Man Singh and others.

Calcutta for Delhi. The British vision was to make New Delhi a “grand imperial capital, capable of holding its own against Washington or Paris,” wrote Jeremy Kahn in 2007 for the New York Times. Leading the implementation of that vision was the man Lutyen's is named after – Edward Lutyens, the architect under whose leadership the British planned New Delhi. One of the major defining alignments towards that vision was an abundance of space. That space is what still distinguishes homes in the LBZ or Lutyen's Bungalow Zone from homes in the rest of the national capital. No other roads in Lutyen's personify that abundance of space more than Prithviraj Road and Abdul Kalam Road – the most sought-after property zip codes in India. They are the arteries of Lutyen's Delhi. The who’s who of India either live here or seek to. In 2016, Renuka Talwar, the daughter of one of India’s real estate captains, DLF Chairman KP Singh spent INR 435 crore or approximately 60 million USD to acquire a bungalow on Prithviraj Road. It was one of the biggest deals for a Lutyen's property. Walking from Prithviraj Road to APJ Abdul Kalam Road strikes a historic note that reflects the rebranding and changing landscape of Lutyen's. APJ Abdul Kalam Road was formerly named Aurangzeb Road. Aurangzeb was one of the cruelest Mughal rulers. The present government thought it appropriate to remove his distasteful legacy and renamed this crucial road after India’s former President, APJ Abdul Kalam, deeply revered and loved by everyone in the country. Such subtle policy moves hint at what could be next for Lutyen's Delhi. The establishment has plans to Indianize the British vision and create more efficient living spaces. The government controls most of the space in Lutyen's – Only about 1000 bungalows, just 10 percent of LBZ is in private hands. One street which has plentiful private ownership is Amrita Shergill Marg. Easily Lutyen's Delhi’s perfect balance between a quiet and yet accessible status symbol.

| B ungalow in Golf Links, Property ID : YH7GD2 on SIR.com

Somehow, it oozes humility, despite its visible reflection of wealth. The homes aren’t loud. The modern properties will ooze a certain organized outlook. Guards outside, cleaners inside, well-kept gardens, modern gates, and an attempt at privacy. The properties that retain older architecture reflect a class that’s comfortable without announcing the value of their wealth through the outward look of their homes. Amrita Shergill was a pioneering Hungarian-Indian painter considered one of the greatest Avant-Garde women artists of the early 20th century. And the road named after her does her justice. Across the main Lodhi Road from where Amrita Shergill Marg starts is also where the fastest - selling Lutyen's zip code, Jor Bagh starts. The homes here are a statement unto themselves, sized efficiently with ample open spaces and some breathtaking designs. The Embassies of Germany, Georgia, and Luxembourg add weight to Jor Bagh’s real estate status. One major element that sets Jor Bagh apart is its market – shops labeled in a templated style, reflecting uniformity. Its quaint corners offer surprising spaces like Devan’s South Indian Coffee and Tea Shop. It hardly has any place to sit but somehow manages to keep you warm and cozy. Jor Bagh is also one of the first few areas in New Delhi to install charging stations for Electric vehicles – an indication that the population here is conciou enough to be the first to buy electric cars. Khan Market though is Lutyen's Delhi’s main market. It’s where central Delhi flocks. Khan Market’s character is captured by bakeries, coffee shops, restaurants, book shops, and fashion labels vying for prime space and the attention of the most difficult to please.

The establishment has plans to Indianize the British vision and create more efficient living spaces. The government controls most of the space in Lutyen's – Only about 1000 bungalows, just 10 percent of LBZ is in private hands.

| Bungalow in Golf Links, Property ID: YH7GD2 on SIR.com

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A short walk from the famous Khan Market is yet another tony address for the rich and the famous - Golf Links. The name is inspired by Delhi Golf Course, and has all the cocktail mix of green, quiet and classy to put it amongst the most desirable pin codes for the ultra high networth Indians, to buy a home. Adding glamour and stature to Lutyen's are its several five-star hotels – The Lodhi, Imperial, Oberoi, Taj Man Singh, Taj Palace, Maurya Sheraton, Claridges, and others. Delhi’s elite – political and business power players find anonymity, security, and comfort here. Lutyen's has more five - star hotels in a concentrated space than any part of the national capital region. A roundabout or two away from these hotels are India’s greatest landmarks – India Gate and Rashtrapati Bhavan. Lutyen's Delhi forms a circle around the War Memorial and the President’s Estate. Delhi’s beauty shines when the sun sets against the backdrop of Raisina Hill, where the most important of India’s government offices are leading to the President’s estate, with the parliament standing by on the side. This part of Lutyen's is undergoing a makeover, with the Central Vista Project – the redevelopment of the entire Raisina Hill. Could the rest of Lutyen's be next?

| DESTINATION |

Falling in Love with a

Tuscan Wine Estate | P restigious estate with breathtaking views of the Alps.

Imagine sitting on the porch of a Tuscan Villa, looking out at your own vineyard, sipping a delicious glass of wine which you’ve nurtured, watching out at the pink gold sky at sunset. Isn’t this a priceless experience? Of course it is. Life among the vines is a dream for many wine enthusiasts who are ready to roll up their sleeves and get back in touch with nature.

by Diletta Giorgolo [ Head of Residential, Italy Sotheby's International Realty ]

o wonder, the high-end real estate market in Italy’s best known wine geography Tuscany, continues to show clear growth and momentum, and the interest in vineyards is growing. Be it a small strip of land next to a villa or hundreds of hectares in a renowned estate, both kinds are equally in demand. Since the start of the pandemic, requests for properties with space and land have increased. This has been driven by the desire to improve quality of life with close contact with nature and the enviable cachet of a Tuscan vineyard has an attractive pull. Tuscany is among the most well-known and prolific wine regions of the world. Brunello di Montalcino, Vino Nobile di Montepulciano and Chianti are synonymous with the finest wines in the world, with the Chianti Region being particularly popular. While the past decade has seen an increase in individuals buying ‘trophy assets’, the pandemic has focused the minds of those who purchase primarily from a lifestyle angle and are happy with a long term view of their investment. There are various reasons to buy a vineyard in Tuscany and the trend seems to go beyond just the domain of large international companies. We have noticed an increase in requests for properties with noble villas at the centre of estates as large as 200 hectares with a separate 20 or so hectares of vineyards in

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production. The interest has come from individuals who are looking at it primarily as a lifestyle choice. There is enough flexibility in most cases to allow them to either continue the personal use, and in many cases, there is also a small ‘agriturismo’(farmhouse) rental program. If, for example, they have no wish to produce 200,000 bottles per year themselves, they don’t have to. Individuals can choose to rent the vineyards out as there is no shortage of demand. Some can choose to keep back some of the production for themselves for their own consumption. Some see that the production of wine itself is a lifestyle choice. A UK based client bought a small vineyard / cantina and farmhouse near Volterra. They left the UK just at the time of Brexit and both

| Exclusive wine estate in the heart of Chianti classico.

| DESTINATION |

| E xclusive wine estate in the heart of

Chianti classico.

had relatively stressful lives as practicing doctors. After a quick wine-making course in the UK, they transferred to Italy, set up an agricultural company, became residents and have now become popular members of the local community. The first year, they sold the grapes to local producers and now they produce wine for their own consumption and sell to local restaurants. In their own words, this British doctor couple wanted “more than just being able to enjoy the views… and for us life without wine wasn’t an option.” The most important consideration was that the wine produced had to be something they enjoyed. The events of the last couple of years have led to a marked increase in demand for properties in the picturesque countryside and hills of Tuscany, aligned with specific requests for vineyards. This is no longer the exclusive domain of international brand names, and these vineyards, be it estates or villas, offer enough variety in size, infrastructure and location to be able to match the needs of anyone looking to improve their quality of life with the benefits of a medium-long term investment. | Finely renovated villa in Valdobbiadene area.

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| INTERIORS |

The Crème de la Crème of Italian Wine There’s a saying in Italy – Anni e bicchieri di vino non si contano mai The literal translation is “age and glasses of wine should never be counted.” The sentimental Italian interpretation is an invitation to fully enjoy life. In that spirit, let’s enter an Italian wine cellar. Shall we?

Welcome to an experience of the Crème de la Crème of Italian wine by Amitoj Singh [ Contributory Journalist, CNN, Al Jazeera ]

ntering a typical wine cellar could be overwhelming. You’re likely to be spoilt for choice. After all, Italy does make more wine than any other country in the world. One 2018 estimate put Italy’s flourishing wine production at roughly 2,200 Olympic-sized swimming pools. So, take your time. Have a visual swim across the pool of wines. You’ll probably be crowded amongst 350 varieties of wine from 2000 native grape varieties covering Italy’s glorious and rich landscape. Take in the tapestry of wine around you. You’re walking around thousands of years of winemaking history. Take a deep breath. Let the aroma of an oak barrel fill you. And know that it’s perfectly okay if you do feel overawed or dazzled. A New York Times article from 30 years ago captured it perfectly – Italian Wine is a lot like Italian Opera: There's a lot of good stuff there if you can figure out what's going on. Most of what you will read from experts out there will say, a smart starting point for the finest quality wines is to look for the ones with the DOCG label. DOCG stands for Denominazione di Origine Controllata e Garantita. It translates to “denomination of origin has been inspected and guaranteed.” Simply put, Italy’s

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top wine classification or the most prestigious wines in Italy. These wines have been through the greatest scrutiny. They’re governed by the most stringent rules that put limits on production and other aspects. It’s expected that these wines are tasted, analysed, and inspected by a governmentlicensed committee before bottling. The DOCG label gives you the certainty that the wine does indeed come from the area claimed. That just narrows it down to about 75 Italian DOCGs. They will likely be the most expensive, the best, and the safest. But in no way should this limit you. Just like beauty lies in the eyes of the beholder, taste lies in the palate of the taster. Then comes the easy part – the broad category you’re looking to wine and dine someone with. The usual suspects are Red, White, and Rosé. The next step is where you’ll wish you had a degree from an Enological (the study of wines) school. If you’re lucky, and a wine sommelier is nearby, they will shift your attention to the following DOCG wines – Super Tuscans, Barolo, Barbaresco, Chianti Classico, Brunello, and Amarone. Super Tuscans are red wines made in Tuscany, arguably

| LIFESTYLE |

Italy does make more wine than any other country in the world. One 2018 estimate put Italy’s flourishing wine production at roughly 2,200 Olympic-sized swimming pools.

Picking five wines out of thousands, comparing thousands of grape varieties, and the fact that exquisite wines are often ephemeral because they are declassified for reasons that have nothing to do with their quality, make the choice incredibly arduous

Mattia Tabacco

Professional wine buyer

the most revered wine-growing region. Barolo, a red wine, is known as the “king of wines,” and is grown in Piedmont, in North-West Italy and made from a grape called Nebbiolo. It is a fuller wine than a Barbaresco with powerful and complex aromas with flavours of dried rose and liquorice, both of which are familiar to the Indian palette. Barbaresco is another red made from Nebbiolo but the difference is that it can be drunk younger than Barolo and it’s more elegant than a Barolo since it’s made from “younger soils.” The typical Barbaresco wine is a combination of dried rose, liquorice and dried red berries. It can sometimes come with varying intensity of black pepper, cloves, espresso and even cinnamon. Chianti Classico is broadly divided into three categories: Annata, Riserva and Grande Selezione. You can spot it through its famous symbol of the Black Rooster. It’s produced somewhere between Florence and Siena. While all Chianti Classico’s are prepared from mainly Sangiovese grapes, the Gran Selezione is considered the pinnacle of this type of wine since it is produced with grapes coming either from a single vineyard or a selection of the best grapes. Brunello wine is characterized both by its intensity and that it’s extracted from a cloned strain of Sangiovese grape grown only on the slopes around Montalcino, a historical Tuscan hilltop village. It’s a full-bodied wine with tasting notes of wild berry, liquorice, star anise and leather.

Amarone wines are typically fruity, made from grapes with higher alcohol sugar contents resulting in higher alcohol wines making them Italy’s bold reds. Geographically they come from the Valpolicella area in Italy’s northeast. To traverse further we bring in a friend, a guide, a professional fine wine buyer, or as his nickname sums it up – “the wine hunter.” Mattia Tabacco has a degree in gastronomy, has been wine tasting for more than a decade and a professional wine buyer who has been reshaping the way wine enthusiasts enjoy the world’s most prestigious fine wine. Most of all, he is simply a wine-obsessed Italian. “Yeah, I’ve had a couple of bottles in my life,” says Mattia sarcastically. Putting him on the spot, we asked the critic for his choice of the five best wines that could act as ambassadors of Italian wines. “It’s not easy to say. That’s a tough question,” Mattia said. Mattia wasn’t just saying that because it’s a difficult choice but because of the technicalities and dynamism in the Italian wine market. Picking five wines out of thousands, comparing thousands of grape varieties, and the fact that exquisite wines are often ephemeral because they are declassified for reasons that have nothing to do with their quality, make the choice incredibly arduous. But we pushed, and here’s the “wine hunter’s” suggestion for the five best Italian wines.

1. Montevertine Le Pergole Torte 2016

Classification: IGT (Vino a Indicazione Geografica or geographical indication of a wine that is produced in a specific area) Region: Toscana (Tuscany)

Type: Chianti Cost: 300-360 Euros Characteristic: The Montevertine Le Pergole Torte 2016 is synonymous with power and complexity. The two native grape varieties it is developed from, lend it a perfect balance.

2. Soldera Brunello di Montalcino Riserva 2006

Classification: DOCG Region: Montalcino Type: Brunello di Montalcino Cost: 950-1350 Euros Characteristic: The Soldera Brunello di Montalcino Riserva 2006 oozes finesse, elegance, and purity. “It’s not made by a human. It’s made by a computer,” Mattia said. “Very precise. Incredibly difficult to find a wine with no defect and this is it. The Monalisa of wine. The best of the best.”

3. Roagna Barbaresco Crichet Paje 2010

Classification: DOCG Region: Roagna Type: Barbaresco Cost: 1400-1500 Euros Characteristic: Reverence for the vineyard, vitality, and integrity of the grape capture the classic yet arresting sensation of a dry mouth. This wine speaks freshness through acidity and mineral substances. It's organic specialty comes from an insistence on respecting the environment and biodiversity in the area of production.

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4. Cantina Terlano-Kellerei Terlan 'Rarity' 1991

Classification: None Region: Alto Adige Type: White Cost: 400 Euros Characteristic: Rarity is a special release blended wine that has been left to age in steel pressure tanks for at least ten years. It’s simply one of the best Italian wines ever produced. Although 1991 might be considered an unremarkable vintage, it actually has outstanding potential for development. For this reason, the estate decided to further ageing on the lees in steel tanks without filtering or fining for 24 years

5. Marco de Bartoli Marsala Superiore Riserva 1901

Classification: Pre-classification Region: Marsala Type: Undefined Cost: 1700 Euros Characteristic: A collector’s item. Rarely available in the market. Marco de Bartoli was a pioneer of winemaking. He evaluated the area of Marsala to create wines that are transcendental. Since these are complex wines, it is best to grade them only after a few years of release. This wine has an early complexity, unlike the ones that take time to mature. So, here’s to reaching the final frontier of superior wine knowledge and becoming your own wine sommelier. Cin Cin!

| EUROPEAN LIVING |

MALTA

The Mediterranean Sunshine Delight What makes this hidden island gem a great choice for a home in Europe by Candice Venheiras [ Marketing Executive, Malta Sotheby's International Realty ]

| The harbour view of Malta

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| EUROPEAN LIVING | | Sunset view of the city

estled in the centre of the Mediterranean is the island countries. In addition, Malta’s stable political climate and nation of Malta, which forms part of an archipelago ever-growing economy have fostered a business-friendly midway between Europe & Africa. This beautiful environment with a solid yet flexible framework allowing island and its smaller sister islands Gozo and Comino are for maximum growth, making Malta a country of choice well known for their 300 days of sun and breath-taking for businesses and enterprises wanting to break into the landscapes - enjoying a rich culture with a strong sense of European market. In 2020 Malta was granted an A+ credit rating by Fitch tradition and heritage. With a population of fewer than 450,000 people, Malta Ratings, Standard and Poor’s, Moody’s and Creditreis the main island of the archipelago housing around form. This is despite the global economy taking a hit 93% of the total population while the remaining 7% of and several European countries having their credit ratings downgraded following the Covid-19 the population reside in Gozo. Currently, Comino has no year-round inhabitants, but Pandemic. This trend has continued in For expatriates, a hotel located on the island that caters 2021 with Standard & Poor's credit rating for Malta standing at A-, Moody's giving to the many seasonal guests who flock to Malta provides a rating of A2 while DBRS's credit rating this picturesque island every summer is a much more set to be re-developed into a new hotel for Malta was set at A. Reports by expert with plans to include some private resiproject that Malta will continue to be one of affordable cost dences. Each island is a treasure trove of the fastest-growing countries throughout of living when Europe, showing strong economic growth history, culture and tradition, with Malta compared to other going forward, making buying or renting a and Gozo both housing UNESCO World Heritage Sites. property in Malta a sound investment for central European In fact, Malta is home to three sites in local and international buyers alike. countries. total that are inscribed on the UNESCO The property market has remained steady World Heritage list. One of which is the and stable and the demand for property has continued to rise. The demand for property in Malta is being crown jewel of Malta - the capital city Valletta, which addressed in innovative building projects across the island, was built after the Great Siege of Malta in 1565. The city houses hundreds of monuments within its fortified walls with special care taken to preserve Maltese heritage. Many making it one of the most concentrated historic areas historical properties are being restored to their former glory, which is proving very popular amongst local and on the globe attracting thousands of visitors each year. It is then no wonder that Malta, which spans just 316sq foreign buyers. Projects of this nature are backed by the kilometres, has in recent years become a very popular Planning Authority, through national budget incentives and government grant schemes to aid in the renovation projects. destination for many foreigners. The idea of a relaxed With this in mind, it is safe to say that the global perisland lifestyle coupled with a rich cultural experience ception of Malta is shifting, no longer just known for its makes Malta an alluring prospect. For expatriates, Malta provides a much more affordable natural beauty, unique traditions, and rich history, the cost of living when compared to other central European island has attracted many foreign investments in recent

| View of Valleta, the Capital of Malta

In 2020 Malta was granted an A+ credit rating by Fitch Ratings, Standard and Poor’s, Moody’s and Creditreform. This is despite the global economy taking a hit. years. The stable economy and favourable business practices mean that international companies have continued to relocate to the island’s shores – while non-EU nationals take advantage of the favourable residency and citizenship investment programmes available. There are a number of benefits related to gaining Maltese citizenship or residence. These include the freedom to travel to 170 destinations visa-free, access to world-class health care, the safety and security that comes with living in one of the safest countries in the world, and a foothold into the European business market due to its strategic location. Malta offers some of the most exclusive citizenship & residency programmes currently available with Malta’s two main programmes proving to be very popular amongst developing country nationals - the Malta Permanent Residence Programme (MPRP) and the Maltese

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Citizenship by Naturalisation for Exceptional Services by Direct Investment. The Malta Permanent Residence Programme (MPRP) allows residence in Malta within four to six months from the submission of the application. Successful applicants are granted a five-year residence visa. The Maltese Citizenship by Naturalisation for Exceptional Services by Direct Investment grants successful applicants’ citizenship after 12 to 36 months of residency in Malta. All applicants are subjected to stringent due diligence checks after a number of requirements have been met. By obtaining Maltese citizenship or residence you will not only gain access to one of the fastest-growing and stable economies in the whole of Europe but you will also be exposed to the unique and magical experience that comes with living in the heart of the Mediterranean.

| DESTINATION |

Goa

Why Rules the Roost as a

Second Home Destination Making plans for your next seaside vacation in Goa? Chances are you will return yet again, yearning for a home in the gorgeous state, if you don’t already own one. Goa does that to you. by Samir Saran [ Karan Singh, Co-contributor ]

| Beachfront Land Parcel in South Goa Property ID : B99L4N

ts never-ending party vibe, great beaches, local fairs, delightful eateries, and a rocking nightlife remain unmatched in any other holiday destination of India. The pandemic has also made this much coveted destination, the top choice for a long-stay or a second home. So much so, that the knockout prices of Goa property have made several headlines in the past year. Limited supply of quality homes has meant one of the fastest price escalations for Goa real estate, during the pandemic. The question is, with India’s strong vaccination drive and the pandemic receding, will owning a home in Goa continue to be as desirable? Absolutely. And here’s why.

1. Choices Galore

Goa’s 160 km long coastline is dotted with beautiful and well-connected beaches, which top the priority list of the super wealthy. North Goa tends brings in more outstation buyers and places like Anjuna, Reis Margos, Siolim and Candolim than South Goa. Its not long though, when the more reasonably priced South Goa property will be in greater demand. We often forget that Goa is an entire state and beaches are not the only desirable locations in Goa. For those who

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prefer quieter spaces, the villages of Goa such as Assagao, Siolim, Saligao, and the river islands like Diwar and Chandor offer plenty of choices. Goa also has a wide range of housing – fully serviced studio apartments, builder projects, independent villas, and beach houses. There are options for every budget. No wonder, the millennials and younger families are making a beeline for Goa, as much as the wealthy.

2. Makes for a prudent investment

For long, owning a home in Goa was more an emotional purchase than a prudent financial decision. Property taxes, annual maintenance and keeping vacant homes safe, all added up to the cost and headache of being a Goa property owner. The pandemic has changed much of that. Families are using their second homes for long extended stays. Goa has now firmly established itself as a year-round staycation

Goa has a wide range of housing – fully serviced studio apartments, builder projects, independent villas, and beach houses. There are options for every budget.

| Resort villa near vagator beach.

| DESTINATION |

| Villa resort near Vagator Beach, Property ID : TELEYL on SIR.com

With a wonderful mix of rural and urban, the serene and the bustling, you can opt for a post retirement life of your choice in Goa – it can be slow and easy, or totally happening.

destination, bumping up the average rentals for a well-located property to 4% per annum. These are way better than what large city homes of Delhi, Mumbai offer. Goa’s rental income market remains steady, and in peak seasons, quite lucrative, too. There are several companies and aggregators, which offer professional services of maintaining homes and renting them out, when not in personal use. Great quality homes will continue to remain hot property, and a capital appreciation of 5% + per annum, is what we foresee.

3. Healthier Lifestyle

I don’t think there’s any debate on how much healthier your lifestyle can get in Goa. Clean air to breathe, open green spaces and the therapeutic sea breeze, Goa tucked away from the hustle-bustle of city life is a wonderful option for a lifestyle upgrade. It's accessibility from all major metropolitan cities of India and a few foreign countries is an important factor for its popularity. Both North and South Goa are easily accessible from the new airport. With an influx of professionals, business tycoons, artists and designers to the state, chances are, you will fit right in this cosmopolitan state.

4. The Perfect Retirement Haven

With a wonderful mix of rural and urban, the serene and the bustling, you can opt for a post retirement life of your

| V illa in Salvador Do Mundo, Property ID : SL7VZP on SIR.com

choice in Goa – it can be slow and easy, or totally happening. You can go zen and minimalist in your living choices or choose to stay opulent. A day spent zipping around on a two wheeler and enjoying the sunset at a local shack, will give you as much pleasure as driving an open top luxury car and sipping sundowners at a high-end seaside restaurant. Most importantly, your friends, family and your grown up kids, will love to spend vacations and special occasions with you. You’re inviting them to Goa, and who wants to miss that? Convinced that Goa will continue to rule the roost for second homes? We believe so. Let me conclude with a safety wrap on buying property in Goa. Make sure the legal paperwork is in place and the title of the property is clear of any disputes. Take the help of a real estate advisor with solid knowledge of the local laws. NRIs and PIOs have specific legal codicils for buying property in Goa - from transferring funds via proper channels to resale conditions, and a reputed transaction advisor is a must. If you’re buying an old house, ensure the foundation is strong, there are no major roofing and electrical problems or leaky underground rooms and areas. And remember, an old home comes with very limited local laws for renovation. If your heart is set on a beach house, check the flooring, walls, roof, doors and windows for moisture proofing. The distance to the water matters, as Goa has

| B each Facing Estate in North Goa, Property ID: 35GMGJ on SIR.com

very strict guidelines on coastal and eco sensitive zones, which means, your property must be at a safe prescribed distance. Last but not the least, opt for a sustainable lifestyle. The locals are already protesting at the irresponsible construction madness in the state. Let your relationship with Goa be one of love and care, where you give back to the state, as much as you take from it. (Article reproduced from Financial Express).

| Home in Reis Magos, Property ID : GPBFFV on SIR.com

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| CELEBRITY HOME |

Ornamented With Art from Across the World Jeh and Celina Wadia's Mumbai home is designed as a blend of contemporary and classic aesthetics, the main shell of the home is washed in neutral, calming colours.

by Sudershan Sharma

| Property ID : 58LQ8Y on SIR.com

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| CELEBRITY HOME

n the heart of Mumbai, the high-profile couple have crafted a home that witnesses a confluence of culture. Their quadruplex in Mumbai’s ICC Springs, a property listed by India Sotheby’s International Realty, is ornamented with art from across the world, backlit by natural light, and sprawling views of the city and the sea. Every element in the home is carefully balanced, so that the transition between spaces remains seamless, yet allows for moments of surprise. Classic furniture is accentuated with antiquities, warm lighting eases the transition from day to night and a neutral palette accentuates the artwork and carefully curated furnishings. The layout and structure of the home was designed in a manner that ensured a distinct separation between intimate, family rooms on the main 38th floor, and spaces for entertaining and hosting guests on other floors. As a whole, the apartment houses seven bedrooms, nine living rooms, four dining rooms, fifteen bathrooms and pantries for each floor.

| Quaint seating area.

| L uxurious living area.

| Outdoor terrace jacuzzi.

| G rand lobby entrance.

On the 40th floor is the Pavilion, or outdoor roof terrace, which is complete with outdoor seating, greenery, and a jacuzzi. The connection to the outdoors remains consistent throughout the home: all floors of the quadruplex are wrapped with balconies, which ensures there is a constant flow of air through the home. The outdoor area has been ornamented with white bougainvillea plants and frangipani trees, which offer a playful, tropical sense of serenity and calmness to the home. Designed as a blend of contemporary and classic aesthetics, the main shell of the home is washed in neutral, calming colours. The 37th and 38th floors see a lot of cream and beige, while the 39th and 40th floors are in more formal tones of grey, black and white. Sprawling furniture, much of which was sourced from Italy or custom-designed in India, populates each room to create comfortable, accessible living spaces. Soft fabrics and wallpaper provide a textural compliment to the visual narrative in each space. A play of marble and wood creates a dynamic palette that is both soothing and spacious. Classic furniture complements the beige palate, and more contemporary modern furniture adorns the formal areas. The result is a home that feels flowing and spacious as well as practical. (Article reproduced from Architectural Digest)

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| Master bath.

Every element in the home is carefully balanced, so that the transition between spaces remains seamless, yet allows for moments of surprise.

| WITH NATURE |

The Himalayan Home You ask me why I dwell in the green mountain; I smile and make no reply for my heart is free of care. As the peach- blossom flows downstream and is gone into the unknown, I have a world apart that is not among men. — Lines from a poem by Li Bai —

by Saba Ali

he majestic Indian Himalayas, spanning 12 states and union territories, from Ladakh to Arunachal Pradesh have an irresistible lure for those who simply can’t resist the call of the mountains. Amidst all the states which are blessed with the Himalayas, Himachal Pradesh and Uttarakhand reign right at the top in desirability for a home in the hills. These two states are also known as Dev-Bhoomi, or the land of Gods. The locals believe their mountains hold a spiritual power which is intricately woven into the history of India, as far back as the ancient epic Mahabharata. The word Himalayas originates from the Sanskrit words hima, “snow,” and alaya, “abode”, and the great poets of India like Kalidasa in Mahakavya and Bharavi in Kiratarjuniya describe the Himalayas as the king of all mountain ranges in their scholarly works. Arjuna, one of the most loved warrior princes from the Mahabharata - in his journey for penance in the mountain, sees the greatness of the

mighty Himalayas. Romantic fantasies, mythology, spirituality all come together with blue skies, clean air, and abundant greenery, to make the experience of living in the Himalayas truly special. There’s a reason why the celebrated author Salman Rushdie describes the Himalayas as “land’s attempt to metamorphose into sky, ” and those who are lucky enough to own a home here, would agree. Die-hard mountain lovers who don't already own a piece of this heaven, are constantly on the search. Dehradun, Rishikesh, Mussoorie, Lansdowne, Binsar in Uttarakhand, Shimla, Kasauli, Mashobra and Dharamashala, in Himachal have been the most desirable locations. The easy connec| Exclusive Villa in Rishikesh, Property ID : WK4FBN on SIR.com

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| Home on Rajpur Road, Property ID : 7R2WBY on SIR.com

tivity from large cities is the clincher. The Shimla hills can be easily accessed via well laid out national highways, all through the journey. One can easily cut down the drive to less than half, if you land at the Chandigarh airport or hop on to a super-fast train up to Kalka. The Delhi-Meerut Expressway has already slashed the driving time to Dehradun from 7 to 4 hours. The upcoming Delhi - Dehradun expressway will further reduce the distance between the two cities by roughly 40 kilometers, taking down the travel to potentially just two and a half hours, making Dehradun, along with Rishikesh and Mussoorie, unmatched hill destinations. It is almost futile to discuss how living in these locations is healthier than being in the city. Clear mountain skies, tree lines till the eyes can see, and crystal clear waterways are an absolute treat. Over the years, these much coveted destinations have evolved to being a perfect mix of quiet with the bustling. Hip cafes, organic food, fine dining in posh 5 star hotels, have made these cities equally charming for a retired lifestyle and for a more happening millennial living. Owning a slice of heaven in the hills is no longer an “emotion only” buy. The pandemic has changed how people

| H ome on Rajpur Road, Property ID : 7R2WBY on SIR.com

live and work and therefore, where they live and work. This has dramatically boosted the desirability of a hill home, amongst the younger working lot and even the newgen digital nomads. The propetch revolution has enhanced the financial viability of this real estate. A tastefully done up home or apartment, can easily be rented out, when not in personal use, bringing in additional income. Caution is well advised though, before taking the plunge with a property in the hills. Each state comes with specific legal clauses for what you can own and what is out of reach for non-domiciles, especially if its land. For a ready property as well title deeds have to be thoroughly verified and vetted by a trustworthy professional. But hey, that’s hardly a challenge when the heart is set to find that perfect slice of heaven, with expansive open skies with endless green.

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It is almost futile to discuss how living in these locations is healthier than being in the city. Clear mountain skies, tree lines till the eyes can see, and crystal clear waterways are an absolute treat.

| CONSCIOUS LIVING

Sustainable Homes

Five Must Do's To Make Your Home Net-Zero The world’s most luxurious homes increasingly wear a new badge of honour - green and sustainable. Climate conscious homes and lifestyle is the best way for those with wealth to express - “We care”. Never before has the human race been challenged as much as today, to find ways and means to reduce carbon emissions to net zero by 2050, and keep global warming to within 1.5 degrees.

| ‘ Architects’s’ House - Sustainable luxury home designed by Morphogenesis

by Manit Rastogi [ Founding Partner, Morphogenisis ]

| Manit Rastogi

he building sector has a crucial role in this “race to zero”. Changing the way our homes are designed, built, consume energy and other natural resources, can potentially reduce carbon emissions by as much as 40%. The good news is, we have the knowledge, tools and design to do so. Environmental design is deeply embedded in the conceptual framework of Morphogenesis’ design philosophy S.O.U.L.© (Sustainable, Optimised, Unique, Liveable). Sustainability is defined as a project’s ability to endure in local conditions and thrive in its lifecycle. Understanding that ‘energy resources’ at most times are considered limited or depleting, the firm’s guiding principle is ‘no is more'; No energy, no resources and ideally, no waste. In keeping with our net-zero goal, we believe that a home should tackle sustainability through a three-pronged approach. Firstly, we need to focus on achieving a low carbon footprint and compensating for the energy and water that we consume. Secondly, to make our house environmentally sustainable we should ensure that our waste is either reduced, recycled, or reused. Ideally no part of it should end up in the landfills. Lastly, through sociocultural sustainability we must strive to include the local communities and economies within our idea of growth. Here are five cornerstones of a holistic approach towards sustainable living.

1. Orientation & Building Envelope

If you’re building a new home, being cognizant of the site context and microclimate is crucial to attaining a net-zero

energy goal. Firstly, the local climate must be meticulously analysed by taking into consideration sunlight, wind patterns, rainfall, and average temperature. Certain vernacular techniques and details like earthen pot insulation, earth berming, high thermal mass walls, cooling ponds and wind catchers can be strategically implemented depending on the local climate. These passive design strategies can significantly reduce the energy consumption of the house while also lowering the embodied energy and construction cost. Furthermore, landscape design and horticulture selection can play a significant role in creating environmental buffers and facilitating effective microclimates. At Morphogenesis, we extend the definition of sustainability into the socio-cultural realm. Sustaining communities is an essential part of our philosophy and over the years we have engaged with an incredible diversity of local artisans and craftsmen in India. Through the incorporation of local materials, techniques of construction and age-old skills— passed down over generations—the firm has been able to generate employment for native communities whilst lending a unique aesthetic to one’s home.

2. Energy Efficiency

Once the first layer of passive design strategies is in place, move towards the installation of efficient and smart M&E equipment. Energy conscious LED lighting, costeffective heating/cooling systems and a well-integrated smart system that can recognize behavioural patterns and monitor the habits of its end users will all go a long way to reaching the net zero target.

This reduced energy demand can be further offset by adding a third layer, i.e., alternative energy resources. Based on the lifecycle cost of renewable products in the market, a plethora of options are available for homeowners today. You can also procure Renewable Energy Certificates (REC) from large scale solar farms, since such farms improve reusability, maintenance, and life cycle of solar panels. Additionally, if a house is generating more energy than it can consume and supplying it back to the grid, then it becomes an ideal ‘energy positive’ design.

3. Water Management

Akin to saving energy, the idea behind water management is not only to reuse and offset one’s own consumption, but also to replenish the water table of the land your home is built on. This can easily be achieved by employing rainwater harvesting, low flow water fixtures within homes, stacked plumbing, along with sensible use of water for cleaning and mopping purposes. Additionally, water must be recycled and reused for gardens, within the swimming pools and water fountains, to cut down the demand for freshwater and minimise wastage. Another aspect to consider is that greenery within urban homes, although desirable, does consume a large amount of water. Newer forms of urban farming, hydroponic gardening, conscious selection of plants that consume significantly less water, and planting species that are native to the area will ensure that water is conserved and efficiently reused.

4. Waste Management

To truly realize our net-zero objective we must ensure that our waste does not end up in the landfill. It needs to be

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thoroughly segregated into wet and dry bins to ensure that all biodegradable kitchen waste is composted and the dry waste—including paper, cardboard, metal objects, e-waste, glass, and plastic—is recycled and reused. Similarly, garden waste such as dry leaves and other organic matter are also compostable. If this practice is followed on a regular basis, we’d be able to use our waste as an additional resource and not just treat it as garbage that needs to be sent off to the overburdened landfills. Today there are simple home composting solutions available, which can be fitted into apartments of any size.

5. Materiality

Sustainability can be easily incorporated within the décor of our homes. Though reclaiming and recycling materials is important, technological advancement has now allowed us to upcycle and create newer materials by utilising old, discarded objects. For instance, reclaimed wood, recycled metal, PET, and jute are used across furniture, flooring, and furnishing within homes. Considering the pandemic, sanitizable materials (for instance, linoleum) with antibacterial properties need to replace the conventional furnishings, and carpets. Lastly, employing materials that are locally sourced and produced will allow communities to continue practicing their craft and provide them with an opportunity to sustain themselves. In the words of Glenn Murcutt, an Australian architect, the idea is to ‘touch the earth lightly,’ i.e., we must work as one with the environment and be climate sensitive. The true legacy that we leave behind for our future generations will be defined by our sustainable footprint, and not by our wealth alone. At home is where we must begin.

| WEALTH |

Estate Planning–For Wealth To Pay And Stay by Pranav Sayta

| F armhouse on Radhey

Mohan Drive Property ID : H9BBVJ on SIR.com

[ International Tax and Transaction Services Leader, EY India ] [ Mokshada Todurkar, Co-contributor; Director, EY India ] Views expressed are personal

“Troubled succession plans, even when resolved can lead to a pyrrhic victory with the bone of contention—the prized family businesses—suffering almost in an irrecoverable manner while the resolution plays out. Therefore, it is extremely important that the aspect of succession planning is not acted on through some rite of passage but an actively thought through endeavour.” KT Chandy, Partner and India Private Tax co-leader, EY India

| Pranav Sayta, International Tax and

Transaction Services Leader, EY India

Preservation of wealth and passing it onto the next generation seamlessly can be an unnerving task.

ndian Inc. witnessed a steep rise in the number of high net-worth individuals (HNIs) in the past decade and that these numbers would increase in the coming times. Despite the onslaught of the pandemic, the country charted its own unique trajectory, both in terms of fighting the virus and economic recovery, resulting in a world of new opportunities and wealth creation, including for family businesses. While one would expect family wealth to bring happiness, security and peace of mind for members of the family, one often finds that in reality, it frequently becomes a source of friction, dispute and heartburn. We believe, appropriate estate and succession planning is critical to ensuring preservation and growth of family wealth, and more importantly, maintain harmony and peace. Preservation of wealth and passing it onto the next generation seamlessly can be an unnerving task. Especially if there are estate and inheritance taxes to be dealt with. Historically, the concept of estate duty meant that a tax would be paid by persons should property pass on to the heirs

upon death of the individual. It was prevalent in India from 1953 to 1985 but was subsequently repealed. While presently there is no statute in India that levy taxes on wealth, it is sometimes feared that estate duty / inheritance tax could soon be on the statute, in line with other countries across the globe. What is Estate planning? Estate planning is a highly customized process which ensures the smooth transition of wealth to successive generations within the family, bearing in mind a host of factors such as • Future uncertainties and eventualities • The laws and regulations prevalent in the jurisdiction • Religious and family sensitivities • Ensuring the security of future generations What is the need for Estate planning? There is no ‘one size fits all’ in case of a succession plan. Every family is unique and has its own set of facts, dynamics and key objectives. There are certain key considerations which determine a good estate plan: 1. Identification of successors/sustenance of entrepreneurship 2. Smooth transitioning 3. Simplification of the group structure 4. Facilitation of philanthropy 5. Preservation of family wealth and protection of family members 6. Providing clarity, promoting fairness and transparency

7. Ensuring continuity and a robust governance process 8. Safeguarding of personal assets from business risks and potential changes in regulatory landscape a. Family governance and documentation: An estate plan needs to be clear in all aspects including the family’s assets, the prescribed mechanism of distributing the assets. The documentation of the same could be in various forms: • Wills, Trust Deeds, etc • Memorandum of Family Arrangement/Family Settlement Agreement • Family Charter/Constitution • Memorandum and Articles of Association, Partnership/ LLP Deeds etc • Shareholders Agreement(s) Depending on the nature of assets, wealth and complexities involved, it may be good to put in place a family constitution which considers the family’s vision, values, employment policy and business/ asset ownership structure. Important aspects such as succession planning and emergency and contingencies plans, conflict resolution processes, guidelines for income flows and code of conduct are part of family constitution. Families comprise of active as well as passive contributors to the business and wealth management. It is important to ensure that the family’s desires and objectives of distribution, sharing and allocation of the wealth is appropriately thought-through, documented and eventually achieved. It is important to distinguish between distribution and allocation of economic interest and management/control. And the following will help in setting up a robust process: • Family Council—being the body for first set of family members, • Shareholders Council – being the body for second set of family members, • Board of Directors / Management – being the body for

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third set of family members. Conventionally, people would opt for succession through a will rather than a trust as it offered certain relaxations. Off late, the trust structure is being considered as an effective succession planning vehicle. Indeed, both the will and the trust have their own unique pros and cons. b. Tax efficient and regulatory compliant structure: The various assets owned by a family could be governed by a separate set of laws and regulations which would have an impact on such distribution. The major laws that may overlap on a succession plan may include the Companies Act, 2013, the Indian Trusts Act, 1882 as well as the Income tax Act, 1961. Certain other important laws that may needed to be looked at are the exchange control regulations, SEBI regulations, succession laws (which may differ based on the community), IP laws, and sector specific regulations. The choice of holding vehicle in the structure is also important and dependant on various factors like the frequency of withdrawals, transitioning costs from current to desired structure, flexibility for unwinding and so on. Typically, a trust, or partnership firm/LLP are considered. Once the holding structure has been identified, the action plan to transition into the new structure needs to be chalked down. Increasingly now in India, a family office structure is considered, to deal with the complexities of the family’s wealth. Summing up Wealth creation is never easy and comes with immense efforts, determination and discipline apart from capabilities and vision. It is important that the wealth so created is well preserved and nurtured and comes to good use for the benefit of the family and the society at large. A robust succession plan, could be the key to achieving these.

An estate plan needs to be clear in all aspects including the family’s assets and the prescribed mechanism of distributing the assets.

| F armhouse near Gurgaon

Property ID : Z64RFK on SIR.com

63 7

| GOLF LIVING |

India: The King Size Golf Living

Here’s a request. Would you allow this writer to be your caddie on a voyage across India’s golf-living adventures? by Amitoj Singh [ Contributory Journalist, CNN, Al Jazeera ]

isualize the golf set replaced with a backpack of essential curated information. The contents of the backpack fall out like breadcrumbs on the journey, painting a picture of King size Golf Living in India. Shakespeare told us “There is a tide in the affairs of men (humans), which taken at the flood, leads on to fortune.” The tide has been in favour of golf living in India over the last decade. Die-hard golfers who can afford it, want a slice of it. From slums to greens, India’s real estate has been transforming, paving the way for a comfortably exotic new lifestyle. It became smart business for India’s real estate developers to project the image of building around a golf course. “Post 2007, many large developers contemplated designing projects with golf courses as the big USP”, said Shivtaj Singh, golf consultant and ex-professional golfer. Golf living estates mushroomed across the country. But not all could sustain the financial burden. Only the deepest pockets survived. The who’s who of India including the worshipped cricket and Bollywood superstars bought themselves homes in golf sanctuaries. The space though is far from saturated. Well located Golf Course developments have a

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| G olf Villa in Tarudhan Valley

Property ID : J753VY on SIR.com

The idea of living in a Golf resort, a stone’s throw away from your bed, is the epitome of convenience, an opportunity to be surrounded by like-minded folks. robust resale market, with buyers galore waiting on the side lines. The pandemic has only hardened the desire to live around green, open spaces. Not surprisingly, there’s been a golfing boom across the world. The concept of a socially distanced golf course was the sweet spot between Covid appropriate behaviour and a normal enjoyable lifestyle. In India, “not only did premium real estate pick up, but the reimagined focus on safety also made India’s super-elite golf enthusiasts find a safety net in Golf Course living,” said Singh.

| GOLF LIVING |

| D LF Golf And Country

| KENSVILLE GOLF LIVING (near Ahmedabad).

Club in North India’s business hub, Gurugram.

It’s nestled between the seat of an ancient civilization, three different wildlife sanctuaries, and 700 acres of exquisite foliage.

Simultaneously the golfing industry picked up the world over. Data in the US suggested that. “The number of reported rounds of golf in the US -- defined by Golf Data Tech as a single authorized "start" at a self-reporting club or facility — rebounded from a 42.2% decline during lockdowns to a 6.2% increase over last year,” reported CNN. Golf-Living in the world’s second most populated country, India, offered a comfort bubble at a time when lockdowns were a constant threat. The idea of living in a Golf resort, a stone’s throw away from your bed, is the epitome of convenience, an opportunity to be surrounded by like-minded

folks, and the premium way of living online and offline. It’s a match made in heaven – the powerful few marrying luxury lifestyles with Golf in India. On offer is a six-(golf)course meal.

To tee off, an exploration of DLF GOLF AND COUNTRY CLUB in North India’s business hub, Guru-

gram. It’s arguably the best. What makes it worthy of king-style living is its historic firsts – India’s first Arnold Palmer Signature course, India’s first night Golf, and the first professional Golf academy. It’s community living

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with ample space, two large lakes, a five star like 24-hour concierge, restaurants, gymnasium, facilities for tennis, squash, swimming, basketball, two golf courses (A Gary Player 18-hole course and an Arnold Palmer 9-hole course,) and three luxury residential compounds make it the most premium golf- living experience in India.

PRESTIGE GOLFSHIRE CLUB in India’s IT Hub, Bengaluru is a prime example of how the pandemic positively transformed the niche industry. Most of its 200 plus golf villas are currently sold out. A 275-acre, 18-hole 67

| GOLF LIVING |

| G olf Villa in Tarudhan Valley

Property ID : J753VY on SIR.com

| Glamourous Golf Homes

at SILVERGLADES TARUDHAN VALLEY GOLF RESORT.

championship golf course with a driving range, a gymnasium, swimming pool, squash courts, pool tables, restaurants, and conference rooms make it the complete package, one that’s run by the world’s largest golf management company, Troon Golf.

KALHAAR BLUES AND GREENS, 25 km from Ahmedabad, the capital of India’s western most state, Gujarat, is an oasis that’s said to have put the region on the map of Golf and business enthusiasts. It’s on the cusp of adding a five-star hotel, an amenity-packed club, and more. For the moment, the 18-hole Golf Course, designed by golfer Jack Nicklaus’ firm, spread over 175 acres is paradise enough. No wonder it’s been awarded “India’s Best Golf Course” for four consecutive years between 2015-2019 at the World Golf Awards. The available plot sizes range from 13,000 sq. ft to 50,000 sq. ft, offering a larger-than-life abode. What makes it special is the proximity with nature that boasts of several shades of green and water bodies.

| S ILVERGLADES

TARUDHAN VALLEY GOLF RESORT. India’s first gated golf community. The boundaries span 65 acres.

Another golf paradise is KENSVILLE GOLF LIVING, also near Ahmedabad. It’s nestled between the seat of an ancient civilization, three different wildlife sanctuaries, and 700 acres of exquisite foliage. The opportunity to step away from the city life, golf, and cultural events like the Tarnetar Mela (carnival), sanctuaries, while having easy access to a 100-seat business centre, 12-seater boardroom, 55 luxury rooms, an event lawn, restaurants, and a sports arena makes this a diverse offering. The fact that more development is to come and the distance from the city makes it a bit of a trek are some of the notable mixed reactions depending on your get-away preferences. How far from city life would you want to be living in Golf heaven? And would you prefer it to be slightly less developed residentially?

JAYPEE GREENS in Greater Noida, an hour from the centre of New Delhi, offers a residential golf oasis within an oasis that includes a nature reserve park and Golf Course. The large bedroom villas built over 620 sq. mts. expand into semi-private landscaped courtyards. The only Greg Norman-designed golf course in India is an 18-meadow and one of the world’s longest with a length of 7347 yards.

The dessert on this six-course discourse is the

SILVERGLADES TARUDHAN VALLEY GOLF RESORT. The reimagined focus on safety also made India’s super-elite golf enthusiasts find a safety net in Golf Course living Shivtaj Singh

Golf consultant and ex-professional golfer.

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It’s worthy of the main course. But what gives it that special security of comfort and warmth like a dessert does is the fact that it's India’s first gated golf community. The boundaries span 65 acres. Enclosed are glamourous Golf homes beautifully placed all around a 9-hole golf course designed by Graham Cooke, a five-time Canadian amateur champion. You could choose apartments, villas, or wooden cottages that overlook fairways for your comfort. The clubhouse, resort hotel, conference facilities, and that essential driving range make it a compact but packed sweet package.

| DIGITAL |

Nothing Compares How Sotheby’s International Realty pivoted to breakthrough digital marketing during the pandemic, and clocked record sales.

| S IR Mobile app in

14 languages/dialects.

| 1 million followers

on Social Media.

by Roasie Virq

T | A pple TV app gives the

big-screen details of the properties.

he 2020 lockdown came with a sudden shock to businesses the world over. There was hardly any sector which was unaffected, some more than others, but yes, the impact had everyone scrambling to find new solutions to keep their business intact. Brick-and-mortar businesses such as hospitality, malls, and real estate, where touch and feel and experience really matter, were thrown into the deepest end of the turbulence. Those who were quick to leverage technology and enhance digital capabilities, were winners all the way. Sotheby’s International Realty was one such brand. We stood out in the industry with our seamless integration.

Early in the lockdown months we had some uber cool technology in place that enabled our clients to view our listings anywhere in the world via virtual tools such as Matterport, video walk-throughs and virtual open houses. These were further amplified via zoom exchanges where an agent walked his client through the whole digital experience of buying a home. Imagine sitting in New Delhi and being able to visually experience every aspect of a home in Goa or even London! This unmatched buying experience from the comfort and safety of homes, helped SIR to clock record sales. The SIR global sales have jumped from USD $ 150 Billion to USD

$ 204 Billion in 2021, achieving its most historic year yet. As space, greenery and well-being became synonymous with luxury real estate, there was a surge in demand for farmhouses in the suburbs, independent bungalows, and vacation villas. We also saw families upgrading and moving to larger homes to accommodate work and study needs of the family and the home became the focal point for fitness and entertainment, with amenities such gyms, yoga rooms and swimming pools. Everyone wanted a breath of fresh air away from the madding crowds. In India, this flight to larger homes translated to an upsurge in demand in Goa, Uttarakhand, and Himachal Pradesh. Globally, it was the mountain chalets, beach front homes and forest lodges,

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which flew off the listing shelves, the fastest. The Sotheby’s International Realty digital platforms along with a very robust social media outreach continues to give prospective sellers and buyers a totally immersive experience enabling quick closures of high value transactions. There were 46 million visits to sothebysrealty.com and 90 million videos were watched over 90,000 hours, in 2020. Much as we would want to see COVID 19 disappearing from our lives, the truth is that we don’t have an end date. At SIR, the continuous endeavor is to up the game with absorbing and stimulating virtual platforms. When it comes to innovation and mastery of marketing, ‘nothing compares’ with Sotheby’s International Realty.

| splendoUr |

Redefining

Luxury Living in Colombo, Sri Lanka

Taking pride of place at the heart of Colombo's prestigious Galle Face oceanfront, Sapphire Residences comprises only 132 expansive Sky Mansions and Penthouses that offer some of the best views of the city. This extraordinary complex will be defined by its residents - a select number of individuals who have ascended the pinnacle of success and personal achievement. by Chris Graham

| Sapphire Residences from the front, overlooking the Indian Ocean. Property ID : BJLEH6 on SIR.com

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| The AHASA ONE Sky Bridge, connecting

| splendoUr |

the residential side to the hotel.

| Sapphire Residences from the rear, overlooking the Beira Lake.

here are many things that Sri Lanka is known for, not just tea and stunning beaches. On this picturesque Indian Ocean Island, you can experience a vast array of activities, diverse wildlife and stunning environments spanning rainforests, tea hills, mountains, cloud forests. Little wonder that it ranks at the top of global tourist destinations. And now you can make it your home too. Sri Lanka has much to offer, and there is so much there to discover. The island has a thriving fashion scene, with many homegrown designers setting global benchmarks. Colombo Fashion Week is one of the most anticipated events in South Asia’s fashion world. For those in pursuit of deeper knowledge, “The Galle Literary Festival”, is unmissable. The weather holds up, pretty much through the year, and a rich mix of cultures prompts year round festivities, such as The Kandy Esala Perahera festival (aka The Festival of the Tooth), Deepavali, Eid and lesser-known Buddhist festivals like Kataragama. This tropical favourite destination is also a gastronomical delight! A diverse mix of cultures have led to an exciting food scene, with delicious food to suit all palettes, vegans and vegetarians included. The gateway to Sri Lanka for most visitors is the capital Colombo, a diverse and interesting city. In the 19th-century it was known as 'the Garden City of the East', with its elegant architecture, wide roads, and landscaped parks. Over the past decade or so the city has seen the emergence of exciting new infrastructure and real estate developments, not least the impressive new Port City man-made island. The ITC Hotel and Sapphire Residences development in Sri Lanka by WelcomHotels Lanka (Pvt.) a fully owned

subsidiary of ITC Limited, India occupies pride of place at the centre of Colombo’s most prestigious oceanfront location. Overlooking the beautiful Galle Face, the city’s ceremonial centre on one side and Beira Lake on the other, this landmark is already redefining the city’s skyline. The building is set to become a recognisable global landmark for the city, if not for the country. This is due to the distinctive architecture, notably the unique Ahasa One Sky Bridge that spans ~54 metres between the parallel hotel and residential towers at the 19th-21st levels. The first of its kind in South Asia, this engineering marvel will

incorporate a jazz bar and lounge, with twin pools and a sunbathing deck along its length on top; offering some of the best views in Colombo. It is bound to become a “must visit” destination for affluent visitors and residents. Subi George, Managing Director of WelcomHotels Lanka comments: “Our objective was to develop a new icon for the country on this ultra-prime Colombo coastline. This inspired us to bring together an exceptional team of international architects, designers and engineers to deliver what will be the finest collection of residences in the region.” Not surprisingly, the interiors in the Sapphire Residences

SPRING 2022

The building is set to become a recognisable global landmark for the city, if not for the country. This is due to the distinctive architecture, notably the unique Ahasa One Sky Bridge at the 19th-21st levels. 75

| splendoUr |

| Not surprisingly, the interiors in the Sapphire

Residences are just as spectacular. Exquisitely designed by YOO Inspired by Starck in four distinct styles – ‘Nature’, ‘Minimal’, Classic’ and ’Culture’, the residences are not comparable with other Colombo offerings. Appropriately named ‘Sky Mansions’, at over double the size of other luxury apartments in Colombo, these enormous lateral homes average ~5,500 square feet.

are just as spectacular. Exquisitely designed by YOO Inspired by Starck in four distinct styles – ‘Nature’, ‘Minimal’, Classic’ and ’Culture’, the residences are not comparable with other Colombo offerings. Appropriately named ‘Sky Mansions’, at over double the size of most other luxury apartments in Colombo, these enormous lateral homes average ~5,500 square feet, large enough for a whole family - with staff - to live in spacious and unhindered comfort. The four penthouses are over 9,300 square feet each, with the two recently launched palatial Master Penthouses spanning a remarkable ~19,000 square feet each, across a single floor. Every Sky Mansion incorporates a state-of-the-art home automation solution that includes hands-free voice control and mobile devices, putting residents in complete control of their environment. Additionally, there is a concierge available to residents to arrange for services on-demand including home delivery of food or restaurant reservations at the neighbouring 5 star ITC hotel, housekeeping requests, laundry pick-up, babysitting, travel etc. This exceptional development has already achieved the globally respected LEED BD+C pre-certification at the highest Platinum level (Core and Shell Development), ensuring the lowest environmental impact of any building on this scale. Mr. George explains: “‘Luxury with sustainability’ is ingrained in our DNA, and the building has been designed around the unwavering principles of ‘Responsible Luxury’.” The lifestyle bar is being raised to set new standards in the region. All aspects, with over 40,000 square feet of premium sporting and social amenities, have been carefully designed to appeal to an elite group of like-minded individuals who enjoy the finest things in life. The concept is based on the new breed of international private members’ clubs that provide a place for playing, relaxing and socialising, with a focus on enhancing its members’ experiences and wellbeing. The Residents’ Clubhouse, with its sumptuous Club Lounge, also conceptualised by Philippe Starck and his talented team at YOO, offers the perfect place to meet, socialise and network in privacy and comfort. A crucial element is the high level of discreet security, explains Mr. George. “Whereas private villas require high walls, barred windows, locked gates and even guards, the integrated security systems at Sapphire Residences provide all that and more at Sapphire Residences. These

SPRING 2022

Our objective was to develop a new icon for the country on this ultra-prime Colombo coastline. This inspired us to bring together an exceptional team of international architects, designers and engineers to deliver what will be the finest collection of residences in the region

Subi George

Managing Director, WelcomHotels Lanka.

are designed by Control Risks, one of the world’s leading security specialists,” he adds. “Security and personal privacy are major considerations, especially for our wealthier clients who take great reassurance from the fact that there is this exceptional layer of security in place.” Above all, Sapphire Residences will be defined by its residents. This extraordinary complex, which comprises only 132 Sky Mansions and Penthouses, is expected to be home to a select number of individuals who have ascended the pinnacles of success and personal achievement and will appreciate stylish, carefree living in the most luxurious and secure homes in what is perhaps the best possible location in Colombo.

| TREASURE |

Farmland in Westend, DLF Chattarpur, New Delhi

GALLERY

Delhi

Fine Homes & Properties

With an area spread across 16,650 sqm (approx.), this vastu preferred land parcel is meant for a farmhouse and is situated in one of the most prime locations of the city.

Atul Goyal atul.goyal@sothebysrealty.in Price Upon Request

Property ID: 9KWJG6 on SIR.com

* Image is an artistic impression and purely for representational purposes.

Farmhouse on Radhey Mohan Drive, New Delhi Delhi This majestic farmhouse is situated in one of the most prestigious addresses. Proudly sitting on 11,120 sqm (approx.) of land, this property has an elegant exterior with partial red bricks.

Akash Puri akash.puri@sothebysrealty.in Price Upon Request

Property ID: H9BBVJ on SIR.com

Bungalow on Hailey Road, New Delhi

Bungalow in Golf Links, New Delhi

Delhi

This bungalow with a built up area of 2780 sqm (approx.) is opulent, contemporary and meticulously detailed. The home offers a rich heritage with the old families of Delhi residing here.

The exterior of this home with a plot size of 1,045 sqm (approx.) has been well preserved with its rustic yet majestic character. The front lawn is replete with flowers and ancestral trees.

Yatindra Soperna yatindra.soperna@sothebysrealty.in

Price Upon Request

Rs. 150 crore

Property ID: 2X5GJG on SIR.com

Property ID: YH7GD2 on SIR.com

* Image is an artistic impression and purely for representational purposes.

SPRING 2022

| TREASURE |

Bungalow in Maharani Bagh, New Delhi

Bungalow in Sunder Nagar, New Delhi Delhi

Delhi

The property rests on a 720 sqm (approx.) rectangular plot. The bungalow is sprawled across 3 floors and has access from the front as well the back of the property.

This exquisite and ready-to-move in bungalow stands tall on a 660 sqm (approx.) rectangular plot. Designed by a famous architect, the interiors have been designed very tastefully and is a prized find.

Atul Goyal atul.goyal@sothebysrealty.in

Rs. 70 crore

Rs. 45 crore

Property ID: LXGK9D on SIR.com

Property ID: T54NCE on SIR.com

Duplex facing THE Arabian Sea, Mumbai

Farmhouse in Westend Greens, New Delhi

Maharashtra

Delhi

Grand, well-lit and airy, this 570 sqm (approx.) five bedroom apartment with a double height living room is a hidden gem in the maximum city.

This fully developed farmhouse with a regularised constructed area, has a plot size of 10,110 sqm (approx.). With a charming white exterior and red roofs, this property is a rare find.

Shipra Jain shipra.jain@sothebysrealty.in

Atul Goyal atul.goyal@sothebysrealty.in

Price Upon Request

Property ID: 2E495W on SIR.com

Price Upon Request

Property ID: 5XZ9H7 on SIR.com

* Image is an artistic impression and purely for representational purposes.

Farmhouse on Panchgani Road, Mahabaleshwar

Bungalow in Punjabi Bagh West, New Delhi Delhi

Maharashtra

This 12-bedroom bungalow is spread over 880 sqm (approx.) and is located on a preferred road of the colony. This posh residence is distinguished by its premium location and vastu preferred plot.

This luxury home spreads across 10,110 sqm (approx.) with a 560 sqm (approx.) built up area, six-bedroom suites with en-suite bathrooms and a garden house.

Atul Goyal atul.goyal@sothebysrealty.in

Ashwin Chadha ashwin.chadha@sothebysrealty.in

Price Upon Request

Rs. 21 crore

Property ID: QWCZVM on SIR.com

Property ID: G6ZBKG on SIR.com

Duplex in Jor Bagh, New Delhi

Beach Facing Estate in North Goa

This duplex is built on a 480 sqm (approx.) plot. It is one of the largest interior plots with sweeping views of parks on multiple sides.

The property with an area of 6,500 sqm (approx.) comprises of a Tuscan style main villa, an outhouse for guests, a staff block, a large garden with over a 100 coconut trees and an outdoor pool.

Delhi

Goa

Akash Puri akash.puri@sothebysrealty.in

Karan Singh karan.singh@sothebysrealty.in

Rs. 50 crore

Price Upon Request

Property IDs: 3C78GL & 7HB5XF on SIR.com

Property ID: 35GMGJ on SIR.com

* Image is an artistic impression and purely for representational purposes.

SPRING 2022

| TREASURE |

Villa Resort near Vagator Beach, Goa Goa

This property is an independent & secure gated housing village, spanning over an abundant area of 4,000 sqm (approx.). The exterior aesthetic is of brilliant colours, slanting hut-like roofs & grand pillars.

Karan Singh karan.singh@sothebysrealty.in Rs. 22 crore

Property ID: TELEYL on SIR.com

Boutique Villa in Vedic Village, Kolkata

West Bengal

This 1,670 (approx.) sqm residency with a sprawling garden has a 5 bedroom villa with a built-up area of 690 sqm (approx.) and has three levels. Residents also have access to a variety of 5-star resort facilities.

Udayendu David Dass udaydavid.dass@sothebysrealty.in Rs. 8.7 crore

Property ID: RCM8RC on SIR.com

Penthouse in Mukundapur, Kolkata West Bengal

Nestled within a gated community with state-of-the-art facilities, each home boasts of plenty of space, large private terraces, 5.5 comfortable bedrooms and a double-height living room.

Subesh Ray subesh.ray@sothebysrealty.in Rs. 7.5 crore

Property ID: N7R4WT on SIR.com * Image is an artistic impression and purely for representational purposes.

Bungalow in Richmond Town, BENGALURU Karnataka

This beautiful bungalow with a plot size of 430 sqm (approx.) and a built-up area of 1,140 sqm (approx.) is located in a peaceful and exclusive neighbourhood.

Atul Goyal atul.goyal@sothebysrealty.in Rs. 36 crore

Property ID: TC8Q9L on SIR.com

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Holiday Home in Dehradun

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