Do you want to buy a Palace in India? Part IV

Want to buy a fort? Hundreds on sale in India

Though the Khannas frequently get offers, they haven't taken up any other heritage project so far.

'Not every fort, palace or haveli should be converted into a heritage hotel. Its location and accessibility are critical for it to be viable,' says Arvind Singh Mewar, chairman and managing director of the Udaipur-based HRH Group of Hotels.

'Besides, a heritage hotel cannot be run in isolation. The energy of the owner has to be brought into play. The guests expect it to be more than a five-star hotel. They are looking for an insight into the lives of the people who own the place, their food, culture and traditions.' He wants to expand the existing 30-50 room inventory to 70-80 rooms to make it more viable.

With hoteliers acting pricey, private owners of forts, fortresses, castles and havelis, too, have gone out in search of investors.

Eighty kilometres from Ajmer in Rajasthan, on a hillock overlooking the village below, stands the five-storey Badnor Fort.

Flanked by lakes Vinod Sagar and Akshay Sagar, the 500-year-old fort is up for grabs. The government of Rajasthan is ready to offer the 4.5-acre site on a 60-year lease for a 60- to 65-room heritage hotel to the highest bidder.

A few hours' drive from here lies Sarwar Fort, once a heavily fortified structure with a single entrance and a moat that runs around it. Built in the late 17th or early 18th century, this one is also on the block.

There's more available elsewhere in the state. In Udaipur, a private haveli-turned-heritage hotel is up for sale for Rs 6 crore (Rs 60 million).

In Nagore, an old fort with 35 rooms is on sale for Rs 5 crore (Rs 50 million). In Bundi, a 125-room fort can be bought for Rs 14 crore (Rs 140 million).

A 150-year-old village castle in Barmer with private stables and temples is available on a 15-year lease for Rs 5 lakh (Rs 500,000) a year.

Across Rajasthan, formed by the merger of 22 princely states after Independence, over a hundred forts, and hundreds of old havelis, have been put up for sale, lease or partnership by the government as well as private owners.

The prices range from as little as Rs 1 lakh (Rs 100,000) for a dilapidated haveli to Rs 35 crore (Rs 350 million) for a functional heritage hotel.

Contd. Part V