What if the villa does not get booked?
You are paid the same. Occupancy risk sits entirely with us for the full 48 months, and that transfer of risk is the substance of what you are buying.
ABOUT US · QUESTIONS WE ARE ASKED
Questions we are asked.
The rental, the title, the drive from Mumbai, the paperwork and the parts of buying land in the Ghats that catch people out. Answered in full rather than hidden behind a click.
ASKED THIS WEEK24 answered in full, below
The rental
Is the rental calculated on my purchase price or the assessed value?
Your purchase price, fixed for the full term. It does not move with valuation in either direction.
How is the rent paid, and when?
By bank transfer to the account you nominate, by the 10th of every month, beginning the month following possession. Not quarterly and not on collection.
Who stands behind the payment?
Ekostay LLP, the operating entity behind our managed portfolio, rather than a company formed for this project.
What do I pay for, and what do you pay for?
We carry housekeeping, on-site staff, utilities, pool and grounds, routine repairs, annual repainting, marketing and the occupancy risk. You carry property tax, insurance, society charges where they apply, and structural repairs after the first twelve months.
What you own
Am I buying a share, or the whole villa?
The whole villa. Freehold, registered in your name, with the land. This is not fractional ownership and it is not a security.
Is the project RERA registered?
Each project comprises fewer than eight units and is exempt from registration under MahaRERA Order 25A/2023. Title documents, the 7/12 extract and the NA order are available for inspection at any time.
Can I take a home loan against it?
Yes. These are freehold registered properties with clear title, so a loan can be availed in the normal way. We will connect you with lenders we have worked with before.
Using the house
Can I take my 24 nights at New Year or Diwali?
Peak dates are blacked out under the Assured Agreement, and so are weekends, because those are the nights that fund the rental. The 24 are weekday nights, bookable 60 days ahead. Private Use has no restriction at all: every night of the year is yours, including New Year and Diwali.
I do not want a fixed rent. I want to use my house.
Then take Private Use. No agreement, no lock-in, no restriction on how often you stay, and we will host on revenue share on the weeks you are away, with the larger share to you.
Who looks after the house under Private Use?
You do, or we do under a facility management contract. We audit on a schedule, report with photographs, then arrange and supervise the vendor. Charged separately and cancellable on notice.
Selling, and after four years
Can I sell before four years are up?
Yes. The agreement transfers to the buyer along with the villa. Eko Estates holds a right of first refusal at the prevailing market price.
What happens after four years?
Renew at the terms prevailing then, take over operations yourself, or sell. We will support a resale either way.
Where the houses are
How far is Igatpuri from Mumbai by road?
About two and a half hours from the northern suburbs, roughly 120 kilometres up the Mumbai–Nashik highway through the Kasara ghat. Karjat is nearer, at around an hour and three quarters via the Mumbai–Pune expressway. Both drive times are measured from the gate of the house rather than from the nearest town, and they are the same figures we quote our guests.
Can I get there by train?
Yes. Igatpuri and Kasara are both stations on the Central Railway line out of Mumbai CSMT, and Karjat is on the same network. Igatpuri station is about twenty minutes from the Kawnai houses by road, and we arrange a pickup for owners and guests arriving by train.
Why Igatpuri and Karjat rather than Lonavala or Alibaug?
Because we already operate villas in both valleys and have eight years of booking data from them. Igatpuri holds its rate through the monsoon in a way that drier markets do not, since the rain is the reason people go. Karjat fills on weekdays with larger groups because of the drive time. Lonavala and Alibaug are good markets, but they are markets where supply has already run ahead of demand.
What is the weather like, and does the monsoon cause problems?
Igatpuri takes some of the heaviest rainfall in Maharashtra, which is what the valley is known for and why August is a peak booking month rather than a dead one. Every house in the portfolio was detailed for it: drainage, waterproofing, ventilation and material choices made with eight years of operating experience behind them, and the maintenance cycle runs before the season rather than after it.
Buying one
What does the buying process look like, step by step?
A site visit first, then the documents. You see the title, the 7/12 extract and the NA order, and your lawyer reviews the draft agreement for sale alongside the draft Assured Agreement. A booking amount reserves the house, the agreement for sale is registered with stamp duty paid, payments follow the construction schedule, and possession is handed over with the furnishing inventory signed off. The rental begins the month after possession.
What costs are there beyond the purchase price?
Stamp duty and registration, which are paid at actuals to the Maharashtra government, plus your own legal fees. The price itself covers the house fully furnished to our operating specification, infrastructure charges, internal electrification and the pool. Anything not in that list is written into the agreement rather than raised later, which is the point of making inclusions a mandatory part of every listing.
Can an NRI or OCI buy one of these villas?
Yes. Non-resident Indians and Overseas Citizens of India can buy residential property in India under the general permission granted by the Reserve Bank of India, with no separate approval needed, and payment made through normal banking channels or an NRE, NRO or FCNR account. The restriction that catches people out is agricultural land, plantations and farmhouses, and these houses sit on land already converted to non-agricultural use. Take your own tax advice on repatriation before you buy.
Do I have to be in India to complete the purchase?
No. Registration can be completed by someone holding a registered power of attorney on your behalf, which is how most of our overseas buyers do it. We will walk your representative through the appointment at the sub-registrar’s office.
What does NA land mean, and why does it matter?
NA stands for non-agricultural. Most land in the Ghats is recorded as agricultural, and building a house on it legally requires the collector to convert its use. A property sold without that order is the single most common problem in Ghats real estate, because it affects your title, your ability to get a home loan and your ability to resell. Every house in this portfolio is on converted land, and the order is open for inspection.
What is a 7/12 extract?
It is the land record maintained by the Maharashtra revenue department, and it names the owner, the survey or gat number, the area and any loan or encumbrance registered against the plot. Reading it is the fastest way to confirm that the person selling you land actually owns it. We hand it over before anyone asks.
How is this different from fractional ownership or a holiday home scheme?
You own the whole house rather than a share in a company that owns it. Fractional platforms give you a slice of an entity and a share of whatever is left after costs, and a REIT distributes what it happens to collect. Eko Estates registers a freehold villa in your name and contracts a fixed rental for it. It is a service agreement for the commercial use of a house you own, not a financial product, and you can sell the house whenever you like.
Something we have not answered?
A call is quicker than a form, and you will speak to the person who would walk the plot with you.