ASK Curated Luxury Assets Fund-I (CLAF-I), formed by ASK Property Fund and India Sotheby’s International Realty, has recently set up a Rs 5 billion equity platform with Amavi by Clarks to develop hospitality-backed luxury second homes across prime leisure destinations. The first projects have been shortlisted in drivable, high-value locations in the Mumbai Metropolitan Region, Pune and the National Capital Region.The platform aims to create rare, design-rich residential assets that blend premium hospitality with long-term value creation. It brings together ASK Property Fund’s investment expertise, India Sotheby’s International Realty’s deep insight into luxury buyers and the operational strengths of the Clarks Group and Brij Hotels. Amavi by Clarks enters the branded second-home segment with the backing of an eight-decade hospitality legacy, further strengthened by its association with IHCL (Taj Group).Amit Bhagat, Co-Founder, CEO and MD, ASK Property Fund, said that demand for luxury second homes among Ultra High Net Worth Individuals continues to rise, strengthening the investment potential of such developments. Amit Goyal, MD, India Sotheby’s International Realty, noted that the collaboration sets a new benchmark for branded villa communities in rare, desirable locations. Leaders from Amavi by Clarks, including Apurv Kumar, Sachin Agrawal and Bajrang Bararia, emphasised the platform’s focus on governance, data-driven evaluation, curated developments and hospitality-led living.CLAF-I, registered as a Category II AIF with SEBI, plans to begin fund deployment immediately. The total fundraise target stands at Rs 15 billion, including a Rs 5 billion green shoe option. The fund will invest exclusively in high-end residential projects, holiday homes and second-home destinations, including religious and spiritual hubs.