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Golf Development in India – Is It Ready to Happen

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• Royal Calcutta is thought to be the first club established outside the British Isles back in 1829 (St. Andrew’s not even opened yet!)

• Approximately 180 recognized golf clubs across the country

• Estimated 100,000 members registered at these golf clubs

• Difficult to estimate total number of golfers because many of India’s golfers are not members

• In reality it is quite difficult and expensive to become a member at the top rated clubs in the country

• Growth levels were generally agreed to have been very slow in comparison to other countries from the ’50s – 90’s

Golf In India at a Glance

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Major Indicators Golf is Arriving in India

• Set to have 30 events nationally in 2008 (including co-sanctions)

• First time hosts to Asia’s #1 Professional Golf Event – Johnnie Walker Classic at DLF

• Sanctioning 2 events this year – EMAAR-MGF Indian Masters & Johnnie Walker Classic

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Major Indicators Golf is Arriving in India

• DLF G.C. – Arnold Palmer & Gary Player• Jaypee Greens – Greg Norman• Classic Resort – Jack Nicklaus• Gold Resort – Vijay Singh• Under Planning & Construction

• (3) Jeev Milkha Singh (81) MASTERS 2008

• (5) Jyoti Randhawa (95) • (17) Gaurav Ghei (232) • (22) Shiv Kapur (277)

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• Opening up the extensive network of Army golf courses to the public

• Golf is now being seen as a potential career choice for Indians and discussion has occurred about including it at the college level

• Regions now considering options on municipal/public style courses

• State governments are realizing the value of golf tourism and in some cases encouraging it. (Goa, Rajasthan, Orissa, Uttar Pradesh)

• Outside of major centres and high end resorts, green fees often range only from US$1 – $4 (for Indian nationals)

• Major developers current cash circumstances (Indian stock exchange) and land banks

• The NRI factor

Positive Indicators That Could Influence Golf to Grow in India

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• Few if any state governments take policy decisions to zone or allot specific lands for golf so land bank requirements remain an issue.

• Elitist perception of the game prohibit the private sector from gaining approvals for golf developments even if lands can be accumulated.

• Any of the significant golfing populations are tightly restricted to the major metro areas

• Remittance of foreign currency to international consultants (designers / constructors / suppliers/ management groups)

• Existing examples of residential golf developments lack quality and export readiness

• Traditional “red tape” factor – is it changing?

Existing Challenges that Prohibit Golf’s Growth in India

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Anecdotal Indicators

• Requests for services and presence of competitors.

• Change in focus and philosophy of leading property developers.

• IMG Academies development and students.

• Accommodation linked recreational interests growing.

• Foreign investment by Indian companies in major global companies with development interests.

• Renewed interest by institutional investors in Indian mixed use property market (residential/city communities).

• Volume of IMG Deals (Design / Management / Player Representation / Corporate Sponsorship / Events).

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