Green Spells Money

What's spurring the golf rush? For one, the game is growing in popularity worldwide. The American Golf Association reckons that by the turn of the century two new golf courses will be developed every week somewhere on the planet. And the number of golfers will grow from the current 53 million to 60 million—a good chunk of them in Asia. There are over 270 courses in the ASEAN countries, and some 450 more are on the anvil. In fact, the total golf market in Asia may touch $500 million by 1997—including membership fees, green fees, clubs, balls, clothing, meals and beverages.

"There's every reason to believe the golf market in India will grow at the same rate, given the infrastructure," says Geoffrey Blake, an international golf market expert heading Sterling Holiday Resorts' golf project. There are now 20,000 golfers in India—experts feel the figure will go up to over a lakh in five years. Corporate sponsorship is helping swell tournament prize money. Last year ITC offered $200,000 in prize money in the Classic Indian Open. Hero Honda pitched in with a prize of $7,500 for anyone hitting a hole-in-one. Add the attendant media coverage, and that's a perfect tee-off.

The laid-back nature of golf, coupled with its 'elite' tag, give the sport a desirable aura—distant, yet attainable. A symbol of success to hook what golf consultant Rishi Narain calls "India's strong middle class, with large disposable incomes and still larger aspirations". At present, though, their aspirations take a while coming to fruition. The Delhi Golf Club's waiting list has reportedly stayed static for over 20 years. The clubs in Bombay, Calcutta, Pune, Bangalore are equally stingy when it comes to new memberships. And of the 132 golf courses in India, over 80 belong to the army—which means no civilians. 

"Enough to convince us of the tremendous scope here," says Ranjit Mehra, managing director of the pioneering Meadows Golf and Country Club just outside Delhi. Started as a nine-hole course in 1989, it now boasts of 18 holes and an impressive corporate member base—Indian Shaving Products, SmithKline Beecham, HFCL, Gabriel and Purolator. Individual members include top managers. Membership fees: Rs 1.5 lakh. Annual fees: Rs 1,800. Status: closed to new members as of now. On weekends, non-members can play for Rs 400.

The Meadows is staring at some stiff competition from new players like Sterling Grand and Classic Golf Resort (whose 27-hole course is being designed by golf legend Jack Nicklaus). Both of these will have hotels, sports clubs and recreational facilities. "The engineering, landscaping and architecture will be comparable to Sun City and Euro Disney," says M.L.N. Prasad, marketing manager with Sterling. "It will be India's first Gold Crown property, a ranking shared by the Palm Spring and Augusta courses in the US." Membership is likely to be by invitation only. Other smaller courses coming up around Delhi include Golf Greens (promoted by a group of NRIs), the Vatika Farms resort, the Bali Hi-rise, the Skyline Aviations and DLF resorts.

"The trend is to combine real estate with golf as an amenity," says Narain. Bangalore provides two instances: the Xanadu International Village (NRI promoters again) and the Eagleton Village of Chamundeswari Builders. Hotel groups, too, are adding golf courses to their table d'hote. The Oberois are building an 18-hole course at Nandi Hills near Bangalore, the Taj group is planning courses at Naldera, Goa and Lucknow and the Leela group in Goa. More are coming up at Khajuraho, Mahabalipuram and Ooty.

"Bangkok has 35 courses within an hour's drive, Delhi has just a handful," says Ronald Fream, international golf course designer with over 150 projects under his belt. And with over a million golfer-tourists coming from Japan alone, desi entrepreneurs seem to have discovered another sunrise industry.