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Gautam Singhania owns it, Anil Ambani gifted one to his wife and the Godrejs enjoy their family time sailing on one. Yachts are one of billionaires' preferred toys. But, you don't need to be among the country's richest to take to the sea and enjoy the ocean. A few companies have come up with schemes in Mumbai and Goa that let you experience the ultimate luxury at an affordable cost.
Depending on your budget and preferences, these companies can help you bring down the cost of owning a yacht by 60-65 per cent. A preferred model for many is Silvercraft 31, a power boat that can cost Rs 90-95 lakh, depending on the configuration. If you become a part- owner with three others, the cost will come down to Rs 60 lakh. This includes maintenance, which comes to around 8-10 per cent of the cost of the boat. If this still feels expensive, you can opt for a timeshare programme rather than a fractional ownership and that can bring down the cost further.
Industry players feel the demand for leisure boating is going to rise after the Maharashtra Tourism Development Corporation (MTDC) proposed the idea of facilitating yacht tourism under the concept of theme-based tourism of the Maharashtra Tourism Policy, 2016. The consultation paper also states MTDC will initiate setting up of infrastructure to support yacht sailing through a public-private-partnership model. "If the government puts the infrastructure in place, more individuals would prefer to buy yachts. Mumbai doesn't have a single marina at present," says Aashim Mongia, managing director, West Coast Marine Yacht Services.
While Mumbai and Goa have the most leisure sailing activity, other places such as Kochi, Mangaluru, Chennai and Andamans are also witnessing traction.
For beginners
If you want to experience sailing but don't know where to start, companies such as Aquasail and West Coast Marine have programmes that introduce an individual to it. Aquasail charges Rs 3,000 for a person for an hour and a half. You get to experience a variety of boats and the instructor lets you handle the easier ones. You can also charter one. Chartering a small boat costs around Rs 4,000 an hour and can go up to Rs 50,000, depending on the size. If you are chartering a boat to host a function, these companies can also arrange food and beverages and staff.
These companies have courses on sailing , too. The basic course is for two days and the cost depends on the kind of boat you wish to learn. For a keel boat, the charge is Rs 15,000 and for a dinghy, it's Rs 15,000. Then, there are professional certifications such as Coastal Skipper and Yachtmaster Offshore. These have two modules, where a person is first taught to sail different boats and then the navigation techniques. Certifications are offered in tie-ups with national and international programmes.
Timeshare
Those who don't want to own a boat but wish to enjoy sailing can opt for a timeshare programme. These companies have several packages, depending on the type of yacht and the number of hours an individual wishes to sail in a year.
The higher the amount you offer upfront, the cheaper it gets. If you take a timeshare by paying Rs 50,000 with Aquasail for 10-12 sailing hours, you will get only a small yacht. If you offer Rs 1.2 lakh upfront, you can sail unlimited for a year. The number of hours will also differ depending on the type and size of the yacht a person chooses. Bigger the boat, fewer the hours. "Most of our timeshare members come once in a fortnight. They, therefore, prefer the 30-hour package" says Shakeel Kudrolli.
For power boats, the cost works out to between Rs 7 lakh and Rs 10 lakh, depending on the size. This comes with unlimited hours of sailing. That is, a person can book the boat whenever he wishes to but needs to bear the fuel cost. West Coast Marine has a five-year programme, which lets you use a power boat, as a partial owner but without owning it. The cost comes to around Rs 30 lakh. In the first year, one needs to shell out Rs 18 lakh and then Rs 2.5-3 lakh every year for maintenance.
Part ownership
Usually, busy professionals and entrepreneurs who only want to sail but don't want the hassle of maintaining the boat opt for this. Here, the yacht is owned by four or five individuals. A Special Purpose Vehicle is formed for the joint ownership. You can become a partial owner without meeting the other partners. The agreement carries the names of all the owners. The boat stays with the company, which brings all the partners together and also maintains it. Whenever a person wishes to sail, he needs to log on to the firm's website, select the available dates and book.
After paying for fractional ownership in the first year, the person also needs to share the cost of maintenance, upkeep, parking cost, insurance, maintenance, dry docking and so on. The total maintenance cost comes to 8 per cent of the cost of the yacht in the first two years, 10 per cent in the third and fourth years, 12 per cent in the fifth to seventh years and after that it's capped at 13 per cent. The owners need to bear the fuel cost separately every time they sail.
On special days, time is equally divided among the partners. Each partner gets a chance to be on the yacht on a New Year day, Diwali and other big holidays at least once during the five-year contract. The owners also need to follow the rules concerning cleanliness, decorum and safety set by the company maintaining the boat. The fractional ownership contract usually lasts for five years. After that, the partners can sell their share and opt out if they wish. Others get a chance to buy the share of the exiting owner at a depreciated value. Alternatively, a new owner is introduced and agreements are redrawn.
HOW TO BUY A USED BOAT
The used-yacht market is picking up in India after duties were doubled on imported boats and weakening of the rupee against the dollar. A yacht that was available for Rs 50 lakh in 2011 now costs Rs 90 lakh. If you plan to buy a used yacht, here are a few things to remember:
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A five to seven-year-old used speed boat is available for Rs 25-40 lakh, whereas a new one will cost you Rs 70 lakh to Rs 1 crore
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Boats can last up to 20 years if maintained well
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For a five-to-seven-year old yacht, the annual maintenance is around 13 per cent of the cost of a new one
