The Indian concept real estate company, Axon Developers has released a top-10 wellness destination report. The research report has identified India’s leading wellness destinations throughout the length and breadth of the country.
“India’s wellness sector is growing at a scorching pace. The market is presently sized at USD 21.4 billion and is growing at a CAGR of 25-30%. People now understand the importance of holistic health and take preventive actions rather than short-term cures. This is not just fueling demand for nutrition, healthcare centers, and consultative business but also nature resorts, naturopathy cottages, wellness & ayurveda centers, integrated farmhouses, etc.” Added Mr. Ankit Kansal (MD, Axon Developers)
“Increasingly amid mountains, valleys, coastal regions, etc., there is a spurt in demand for wellness businesses. Periodically everyone now wants to disconnect from hectic city lives and spend some time in nature to rejuvenate and relax. To further understand how the sector will unfold, we have conducted a study to identify the top 10 wellness destinations, where most of the game will be played out.” Added Mr. Kansal.
As per the Axon report in North India, some of the main wellness centers in the Himalayas include Rishikesh & Haridwar, Gangotri Highway, Badrinath Highway, etc. In the west prominent wellness destinations include Sindhudurg, Lonavala, and nearby hill stations in Sahyadri, and the western state of Rajasthan.
Rajasthan located near Delhi is rich in culture and heritage and holds immense potential for wellness, Ayurveda, and detox treatments. Amid desert winds hotels and resorts are now coming up with spas and Ayurveda centers to cater to weekend tourists and a large volume of business travelers.
In the south, Cochin in Kerala is a natural favorite to start and run a wellness business such as spa, Panch Karma center, Yoga & Pranayam centres, etc. Presently average land rates in Cochin are around INR 5832/ Sq Ft, moving up from INR 4638 in the past 4 years. Located in west Kerala Cochin is known for scenic sea beaches, islands, and numerous cultural monuments.
In the western Ghat, the Sindhudurg region has also witnessed a change in fortune after the opening of the international airport at MOPA, around ~ 25 mins from Sindhudurg. The region is blessed with scenic hills, turquoise blue water, and thick green forests. There is huge potential for hospitality, wellness, second homes, and rental villas, etc. Presently the annual tourist volume is close to 450,000. Nevertheless, it is expected to jump fast consolidating Sindhudurg’s position as one of the sought-after tourist hubs in the Konkan belt.
As there is renewed optimism in the market, investments in the hospitality sector are also rising. By 2030 close to new 1500 new hotel rooms will join the pipeline. Backed by growth in demand, hospitality property prices are rising sharply. Presently the average land price is in the range of INR 6151/ Sq Ft, growing at a CAGR of 11.6%.
“In the East and Northeast, there is an increased spotlight on Darjeeling located at the foothills of the Himalayan region, which is also called the gateway to the North East. The region is among one of the most incredibly beautiful places in India endowed with verdant tea gardens, ornate pine forests, high-altitude lakes, misty clouds, plenty of flora and fauna, and much more.” Added, Mr. Kansal.