who owns private yacht in india

Ferretti's Indian owners include Sunny Dewan Wadhawan, managing director of the real estate development firm, HDIL, who snapped up one for Rs 57 crore.

Godrej Group CEO Adi Godrej has a Ferretti 592, a flybridge yacht that can house up to 60 people and is fitted with the ultra-expensive Frau leather.

The privilege of owning the country's first Ferretti belongs to Vinod Mittal, younger brother of steel tycoon Lakshmi Mittal, who acquired the yacht in 2001, the year Marine Solutions set shop in Mumbai.

UK-based Lakshmi Mittal owns the 262-metre Amevi , which is moored near his Mediterranean home. India, Norway, Gibraltar and Spain were among the stops Amevi made last summer. Mittal reportedly paid Rs 1,000 crore for the vessel, which includes a pool, gym and movie theatre.

Not everyone, though, is impressed by the way the market is growing. Shakeel Kudrolli of Aquasail Distribution Co., feels the market will have to move out of its obsession with luxury yachts. " It's a fad the market can't sustain as India does not have a marina, nor does it have workshops for repairs and maintenance," says Kudrolli.

These considerations aren't stopping India's richest from scouting for luxury yachts, for they can always dock their boats off Dubai or Monaco.

Courtesy: Mail Today Published By: AtMigration Published On: Dec 26, 2008 --- ENDS ---

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A Look At The Private Jets Of The Richest Indian Businessmen

The appeal of a private jet does not have to be explained; it represents a sense of exclusiveness that most of us do not get to naturally experience. A private jet was originally considered to only be the ultimate status symbol for the rich and the famous. However, for the business traveller, it goes beyond that and is an important tool of utility.

Historically, the market for private aviation in India hasn’t been large but it is now on the cusp of a turnaround . This is primarily due to the tremendous growth of the Indian economy itself. Private jets provide business persons with a way to travel at tremendous speeds, with more efficiency, and at the level of comfort and privacy that they deserve. But, most importantly, they make travelling flexible; the daily lives of business people are constantly packed with ever-changing schedules. With a private jet, there is no need to modify an already erratic schedule.

It goes without saying that high profile businessman and private jets go hand in hand. Here’s a sneak peek at the most exclusive private jets owned by the most successful business magnates of India:

Mukesh Ambani, Chairman of Reliance Industries Limited

Image Source: Boeing Business Jets

Owns a Boeing Business Jet 2

Mukesh Ambani is the only person in India who owns a BBJ2. Priced at a whopping $73 million, this particular jet was purchased for his private use.

Boeing created this line of jets, especially for corporate use. These jets combine business utility, speed, and luxury to deliver a magnificent machine that is capable of seating 78 passengers. With increased cabin and cargo volume, the Boeing Business Jet can create an executive lounge, private suites, and conference rooms – to name a few spaces. It is equipped with the most advanced flight management system in the world.

Anil Ambani, Chairman of the Reliance Group

Image Source: Bombardier Business Aircraft

Owns a Bombardier Global 6000             

Priced at $38 million, the Bombardier Global 6000 is owned by Anil Ambani and is one of the most popular private jets in India. Catering to private jet customers of every type – right from the celebrity enthusiast to the business traveller – the Bombardier Global 6000 ensures that an individual has the smoothest and most productive experience that one can get from a business jet. With a seating capacity of up to 17 passengers and a comprehensive cabin system in place, this business jet makes sure that all business and personal needs are fulfilled at all times.

Lakshmi Mittal, Chairman and CEO of ArcelorMittal

Image Source: Gulfstream Aerospace

Owns a Gulfstream G550

Steel magnate Lakshmi Mittal is the owner of one of the best-in-value business aircraft manufactured by Gulfstream: the Gulfstream G550. This Rolls-Royce of private jets costs $38 million.

Created specifically for corporate travel purposes, it is capable of seating up to 19 passengers. Powered by two Rolls-Royce engines that provide the most thrust of any jet in its class, the Gulfstream G550 can fly for 12 hours non-stop and can also operate out of short-field, high-altitude airports.

Ratan Tata, former Chairman of the Tata Group, industrialist and philanthropist

Image Source: AV Buyer

Owns a Dassault Falcon 2000

The Dassault Falcon 2000 is owned by Ratan Tata, the world-famous industrialist, philanthropist, and former Chairman of the Tata Group. An avid aviator, Mr Tata is known to fly his jet by himself. Priced at a cool $22 million, this beautiful luxury business jet balances both performance and economy. Having a seating capacity of 6 passengers, it is both elegant and affordable with low direct operating costs. Thus, one can expect the efficiency and features of a full-size jet functioning at economic prices.

Looking at the private jets of India’s biggest businessmen, it just emphasises the huge role a private jet plays in assisting businessmen with their work on a continual basis. Today, private jet booking services are revolutionising the industry and have made it possible for one to rent most of these jets at a fraction of the cost. With more efficient and smoother methods of jet rental , flying private like India’s most successful businessmen is no longer a thing of the past.

Average Cost of Buying & Owning a Yacht in India (with 4 examples)

The number of yacht owners has significantly increased in recent years, particularly in the coastal cities of Mumbai and Goa. This is due to the growing popularity of yachting as a recreational activity among the affluent class in India, as well as the increasing availability of high-quality yachts and yacht services in the country. Yacht prices remain competitive and depend on factors such as the yacht's brand, age, and condition.

The average cost of new yachts is around 2–3 crores (₹20–30 million or $270,000–$405,000) for smaller yachts and can go as high as 1,000 million INR ($135 million) for larger yachts. Ownership costs involve annual maintenance expenses ranging from Rs. 1 lakh to Rs. 5 lakh ($740 to $3,700) per year.

The total annual cost of owning a yacht, inclusive of maintenance, can range from ₹2 lakh to ₹5 lakh or more, depending on the size and type of yacht you choose. Below, you'll see a breakdown of this cost.

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• Operating costs for yachts, including fuel, crew, and other expenses, could be around 10% to 20% of the yacht's value each year.
• Expect to pay around 1% to 2% of the yacht's value annually for insurance coverage.
• Consult with maritime law experts and tax professionals about the legal clearances and tax considerations involved in purchasing a yacht in India.

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Cost of buying a yacht in india, cost of owning a yacht in india, four examples of yachts and their costs in india.

A yacht is a larger boat primarily used for recreational or leisure purposes. Owning a yacht in India allows you to explore the country's vast and beautiful coastline at your leisure. As a yacht owner, you have the freedom and flexibility to plan your own trips and vacations, creating memories with your friends and family.

Here's a table of the costs in USD:

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Sailing yachts : These are powered by sails and offer a more traditional sailing experience. They can be a more eco-friendly option due to their lower fuel consumption, but they may require more skill and knowledge to operate.

Motor yachts : These are powered by engines, making them faster and more straightforward to navigate than sailing yachts. Motor yachts are typically larger and more luxurious, providing various amenities and comfort options for you and your guests.

Catamarans : Catamarans have two parallel hulls, offering more stability and space than other yachts. Due to their design, catamarans provide a smoother ride and are ideal for those who want more space or are prone to seasickness.

Superyachts : These are the epitome of luxury yachting , typically longer than 80 feet and featuring multiple decks, spacious cabins, and state-of-the-art technology. Superyachts are ideal for the wealthiest yacht owners, as they come with a hefty price tag and high maintenance costs.

In this section, we'll explore the operating costs for yachts, including maintenance, docking fees, insurance, fuel, and crew expenses. As a general rule, these could be around 10% to 20% of the yacht's value each year. This percentage can give you a rough idea of ongoing expenses, but keep in mind that every yacht and situation is unique, and actual costs may vary.

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Regular maintenance : The cost of maintenance depends on the size and type of your yacht. The cost can increase over time, especially as your yacht gets older and requires more extensive repairs. Maintenance costs generally include cleaning and painting, engine and mechanical work, electric and electronic system repairs, and plumbing and sewage system maintenance.

Docking fees : These fees can vary based on the location, amenities, and services provided by the marina. To get a better understanding of docking fees for your yacht, research marinas near your desired location and request quotes for docking services. Don't forget to account for any offseason hauling and storage fees if your yacht needs to be taken out of the water during the winter months or while you're not using it.

Insurance costs : Yacht insurance is vital to protecting your investment from various risks, such as accidents, theft, or natural disasters. Insurance premiums are usually determined by factors like the yacht's value, size, age, and intended usage. As a rough estimate, you can expect to pay around 1% to 2% of the yacht's value annually for insurance coverage. However, this percentage could vary based on your specific yacht and insurance provider.

Fuel and crew expenses : Depending on your yacht's size, you might need to hire a professional crew to manage and maintain it. Crew salaries depend on their roles and experience, which can significantly affect your annual yacht expenses. In addition, fuel costs will vary according to the size of your yacht's engine and the distance traveled.

To get a taste of sailing before you buy a yacht, you can make a private reservation. Here's the average price to book a private yacht in Mumbai .

When looking for a yacht, it's essential to take into account the size, features, and costs. Here are four examples of yachts available in India , showcasing a range of sizes and costs.

Small sailing yacht : Perfect for a leisurely sailing experience, a small sailing yacht can cost around ₹2 crore to ₹3 crore (20 to 30 million rupees) depending on its age and condition. These boats are generally less than 50 feet in length and can accommodate up to six people. With lower maintenance costs and fuel consumption, it's an excellent option for beginners and weekend sailors. Here is an example of an average price for a small sailing yacht .

Mid-size luxury yacht : As you move up in size and amenities, a mid-size luxury yacht of around 50 to 60 feet in length can cost anywhere from ₹5 crore to ₹30 crore (50 to 300 million rupees). These vessels are built for comfort and offer improved accommodations, entertainment areas, and more advanced navigation systems.

Large motor yacht : As the size continues to increase, large motor yachts measuring over 70 feet in length can easily exceed ₹70 crore (700 million rupees). These yachts are more luxurious, come with state-of-the-art technology, and can accommodate more guests. With more power, they are perfect for long-range cruising and hosting exclusive events.

Mega yacht : For the ultimate yachting experience, mega yachts are considered the pinnacle of luxury and status. Over 100 feet long, the price tag can reach several hundred crores, based on the level of customization you desire. Mega yachts, as their size suggests, are equipped with advanced technology, luxurious amenities, and plenty of space for entertaining.

New yachts in India

You can expect to spend anywhere from 2 to 30 crores (20 to 300 million rupees) for a new yacht, depending on the size and features of the yacht. Smaller yachts will typically be on the lower end of this range, while larger yachts will be more expensive. Some factors to consider when purchasing a new yacht include the brand, build quality, and additional features.

Used yachts can be more affordable than new ones

These are more affordable, especially if you're willing to compromise on certain features or the age of the yacht. In general, you can expect to spend around 60–70% of the original price on a used yacht. Keep in mind that the condition and maintenance history will play a significant role in determining the price of a used yacht, and it's crucial to carefully inspect any used yacht before making a purchase.

Imported yachts to India

The cost of an imported yacht will depend on factors such as the country of origin, size, and specifications of the yacht. Additionally, you may face additional costs like import duties, taxes, and shipping expenses. It's essential to familiarize yourself with the legal requirements and tax implications of importing a yacht to India before making a decision.

Custom-built yachts for a unique experience

These personalized yachts offer the opportunity to design and create your dream yacht. The cost of a custom-built yacht can vary widely, depending on factors such as the size of the yacht, the materials used, and the complexity of the design. While custom-built yachts can be expensive, they offer unparalleled personalization and luxury for those willing to invest.

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Ambani's Jets, Mittal's Yachts: Luxurious Rides Of The Ultra-Rich

Who Owns What

Private yachts and customised planes. Check out the travel modes of the jet set that double up as meeting venues, party hangouts and spots to host special occasions. For those Indians — and those with desi roots — who are counted among the world’s wealthy, island hopping in Europe aboard their customised 200-feet yacht or taking off in their bespoke jet across the continent are but a way of putting a monogram on their commute. Take a look at the rides of the jet set:

Lakshmi Mittal’s Amevi

In 2014, this London-based billionaire was spotted relaxing on the Greek island of Mykonos, dressed casually in a white T-shirt and baggy shorts. A newspaper report speculated that while Mittal lounged on the beach alongside other tourists, his 262-feet-long yacht Amevi was parked in the waters nearby. Some amenities on board: Sun decks, a heated swimming pool, a cinema, a gym, a massage room, a hairdressing salon as well as a unique, stabilised pool table to name a few.

Mukesh Ambani’s Boeing Business Jet

More than a decade ago, it was reported that Ambani gifted his wife, Nita, a private jet on her 44th birthday. It was said at the time that this jet was “custom-fitted with an office and a cabin with game consoles, music systems, satellite television and wireless communication. It also has a master bedroom, a bathroom with a range of showers and a bar with mood lighting”. As his personal ride, Ambani reportedly favours a Boeing Business Jet. “Most often, they want access to the same amenities in the air.” That’s how the airplane maker describes their customer’s requirement, a.k.a, a flying home, as that’s what’s wanted.

Ravi Ruia’s Sunrays

“The ultimate guest and owner’s yacht.” That’s how the captain of Sunrays, delivered in March 2010 describes it. According to a description of the yacht available on the Oceanco’s website, “The upper deck is given over to the owner’s suite and an adjacent VIP suite that can be combined to create one expansive living area. Both suites have fold-down sea balconies. The owner’s exterior foredeck hosts a whirlpool and sunbathing area. The remainder of the yacht’s accommodations for up to 16 guests is on the main deck with one VIP stateroom and four guest cabins.” The large dining room can be converted into a video conference room with the optional use of the adjacent library. Foldable sea balconies provide guests unimpeded views while dining.

Kumar Mangalam Birla’s Cessna Citation

A blog published by an apparel brand, owned by the Aditya Birla Group, documented the private jets of India’s rich and famous. The listicle included the jets owned by Birla, the Group’s chairman. It said, “Few people know that this sharp, business-minded entrepreneur also has a sweet tooth, when it comes to sweet flying machines, with his Gulf Stream (G100) and Cessna Citation...It’s believed that Citations are the world’s most established, well-liked and most trusted fleet of business jets. The jet has high-tech design of pilot-friendly flight decks and luxury cabin interiors. Birla is often spotted taking a ride in his luxurious aircrafts.”

Sunil Vaswani’s Platinum

This Dubai-based billionaire’s yacht is apparently a fixture in the Mediterranean and was even spotted at the French Riviera around the time that the Cannes Film Festival was held this year, with others in the list for company. Vaswani, who is considered to be one of the richest Indians in the Gulf Cooperation Council (GCC) countries, was once described as he “who lives on multiple continents and sails the Mediterranean each summer in an all-purpose luxury yacht”. The logo of the Stallion Group, which he heads, adorns the yacht.

Ratan Tata’s Dassault Falcon 2000

Tata’s love for aviation is an open secret. But he is perhaps one of the handful of billionaires in the world who not only owns a private jet, but even flies one. “A lot of people know that Ratan Tata owns a Dassault Falcon 2000 private jet but, what they do not know is that since Tata is a trained pilot, he even flies his own private jet and other jets owned by the Tata group,” said an earlier report.

Reuben Brothers’ Siren

“While watching the boat slowly taking shape in Rendsburg, we suddenly became aware of how seductive and mysterious she seemed. We just knew then that we had to call her SIREN and we are absolutely delighted with the result.” That’s the quote attributed to the owner of the 241 feet-long Siren, on the website of Nobiskrug, the German company that built the yacht. Presumably the owner quoted in question is either David Reuben or his brother Simon. Commonly referred to as the Reuben Brothers, they trace their roots back to Mumbai, and are counted among the UK’s richest individuals. Theirs is an award-winning superyacht with a foldable helicopter platform, that can double up as “a sundeck, a dance floor or a stage”.

Adar Poonawalla’s Gulfstream G550

Earlier this year, this scion became the first Indian to take delivery of a fully customised, ACH145 helicopter by Airbus. While his new ride, with a seating capacity of eight is great for covering relatively shorter distances, his Gulfstream G550 aircraft is reportedly his transportation of choice for long-haul journeys. In an earlier interview, Poonawalla had said, “With a 13-hour range, it (his jet) can take me to anywhere in the world with a single halt.” The report further added, “The plane can also come in handy when he (Poonawalla) craves continental food and in case he wants to fly in Michelin star chefs to cook for his friends and him.”

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