Chennai welcomes luxury afloat

12:30 AM Wed 10 Dec 2008 GMT

'Joining the traditional boats of India are major international brands as demand for luxury cruising rises.' .

The Super-rich in Chennai, India are gearing up to splurge on yachts and cruisers and four of them have already found their way into the city.

Chennai's super rich just got a shot in the arm as the biggest "boy toy" that one could lay his hands on has now hit its coastline.

Inspired by the likes of high-flying businessmen, Vijay Mallaya of the UB Group and Gautam Singhania of the Raymonds, who decided to get a dose of the ultimate in Luxury - a private yacht to be precise - the city has opened its gates to a line of speedboats and cruisers.

Speaking about the development, Nelson D Mello, the CEO of Infinity Yachts, which plans to set up operations in Chennai by the end of the year, says "The east coast waterfront which comprises of cities like Chennai are some of the most lucrative markets that we are looking forward to tap. There is a significant demand for these luxury yachts and boats from the city itself".

He explains "For instance, there is already a 51-foot luxury yacht which costs around Rs. 4 crore, which will soon be seen at the harbour. Apart from this, there is a 31-foot cruiser that costs Rs. 1.5 crore which will come to Chennai in a few days time. And a high-end speedboat is already parked at the fishing harbour here. So there is definitely a demand for these products"

He adds "The past tow or three years have seen several enthusiastic buyers from the higher strata of the society approaching us for these boats. Of course, they are premium commodities, so the prices range from as low as Rs 12 lakhs for speedboats to Rs 120 crore for super yachts, which feature amenities like a bedrooms, living rooms and saloons. In fact, a few years back I had even sold a luxury cruiser to the Chennai based-MRF house. In fact, hotels and the hospitality industry are set to be the biggest potential for such products".

Vinoo Mammem, Chairman and Managing Director of MRF Ltd, who owns the private cruiser, which is worth about Rs 1.5 to Rs 2 crore, says "although I bought my yacht in Chennai, it is currently harbored at my family house, which is located within a freshwater region in Kerala. One of the reasons is that we do not have a private marina to park these boats. Also, there are several effluents in the harbour here, which makes maintaining the yacht very difficult. Also there are barnacles floating in the sea, which could damage the hull of the boat".

He adds "I would love to bring my yacht back to Chennai provided we get a proper infrastructure in place".

Ad-guru Prahlad Kakkar, a self confessed sailing enthusiast, who is building his own boat in Goa says, "In the past two yeas alone, the number of private luxury boats harbored at the Mumbai harbour has tripled. Since Mr. Mallaya set the bar of yacht and not a Mercedes or Rolls Royce, the super rich in the country have jumped into the bandwagon.

If the government beefs up the existing infrastructure, it could open the portals for millions in the form of revenue from private parties who don't touch our coastline otherwise.

by Aarohan Communications

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