CASHING IN ON OLD WORLD

Like Morarka, there are a surprising number of outsiders, Indians and foreigners, who are investing in Rajasthan, captivated by its arid beauty and magnificent architecture. And of course, the romantic notion of living in a 200 year-old structure that’s witnessed history and once belonged to Indian nobility. Even smaller heritage structures in Udaipur and Jodhpur are in great demand, to transform them into small boutique hotels, mostly by people who are new to hospitality and not aligned to any big hotel group. Francis Wacziarg, Partner, Neemrana Hotels, who have 15 boutique heritage hotels across India quotes the example of a Frenchman who’s recently bought a 100-year-old property in Udaipur to start a small guest house. He also referred to Nadine Le Prince, a French lady, who restored an old villa in Shekhawati and runs an Arts and Cultural Centre there. (Prince was in France and could not be contacted for this story.)  “We get 4-5 calls daily from people who own old properties in Rajasthan for hotel partnerships or for outright sale,” says Wacziarg, “Even among foreigners in France, there’s huge interest in starting a business here.” Though Indian laws don’t permit selling land to foreigners, there are several ingenious ways to get around it.

A 10,000 square ft haveli in Udaipur, complete with a sheesh mahal, advertised on a realty website is priced at $500,000 (approx. Rs 2 crores and 21 lakhs). The broker, Liaquat says he’s received over 700 inquiries and is about to close the deal. Delhi based broker Anirudh Singh, also a descendant of erstwhile royalty specialises in sales of old properties, across India. “Considering a 3,000 sq ft flat in South Mumbai and South Delhi can cost Rs 10 lakh a sq yard, a haveli is cheap in comparison,” says Singh. There are also several new dynamic entrants to the hotel industry in Rajasthan. The flagship for all is history, and heritage.  Jaisal Singh, who runs Sherbagh, a popular luxury tented camp in Ranthambore is coming up with a similar concept outside Jaisalmer. Lekha Poddar, proprietor, Devigarh Resorts in Udaipur, her first venture in hospitality, is now starting a hotel in Jaipur. Similarly, Alice Bamford, a London socialite and the scion of the JCB Group is rumoured to be looking around for a castle in India. “There is room for everyone and the conversion of havelis and forts into hotels has helped preserve buildings with cultural significance,” says Poddar.  However, a relative of Jodhpur’s erstwhile royal family who didn’t want to be named is sceptical about sales and the heritage hotel business in Rajasthan. “Most of these properties are under litigation with siblings squabbling, so finding a clean property is very difficult,” he says. He tells us when the hotel chain Oberoi’s acquired the Boondi Fort Palace in Northern Rajasthan, the owners immediately went into litigation. That kickstarted their superbly successful Raj Vilas in Jaipur.

Dr Hot Chand, an archeologist from the Archeological Survey of India, has painstakingly restored two havelis in the Shekhavati belt to their former glory. Most of the miniature paintings on the walls depicted Mahabharata legends which had eroded over the years.The work continues and it’s already been a decade.  Dr Chand has mixed feelings about new owners fixing these crumbling properties as hotels. “They weren’t made to be hotels,” he insists. “Once it’s a commercial venture, they need returns so it will be a slipshod fast job, not restoration. It’s still better than the alternative, a crumbling haveli.