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.

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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 .

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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.

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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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West Coast Marine isn’t just a place to buy or rent a yacht:

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The Bombay Yacht Club was founded in 1846 with Henry Morland as club commodore and 30 years later – on the recommendation of Sir Philip Edmond Wodehouse and patronage of Queen Victoria became known as Royal Bombay Yacht Club. The seafront clubhouse was built in 1881, and received a number of prominent visitors within its first ten years including: H.R.H. Prince Arthur, their Royal Highnesses the Duke and Duchess of Connaught and American railroad tycoon and yachting enthusiast Mr. William Kissam Vanderbilt – also part owner of the 1895 America’s Cup winner, the 37.5m sloop: Defender.

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Timeline of Restoration: Old Yacht Club, Mumbai

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The old yacht club, formerly known as the royal Bombay yacht club, was founded in 1846 in Colaba. It was initially envisioned to be one of the premiere gentlemen’s clubs in the Mumbai area. Today this Mumbai Yacht club acts as the headquarters of the department of atomic energy government of India. It served the Tata institute of fundamental research for a brief period in 1949. John Adams designed the old yacht club. John Adams is credited with designing the Mumbai Gymkhana, Police courts etc. and has a street named after him. 

The club’s location, Close to the coast, offers a splendid overlooking view of the Gateway of India. It lies near some of the architectural wonders of Mumbai city, like the Taj hotel, Maharashtra police headquarters, and Chhatrapati Shivaji Maharaj Vastu Sangrahalaya, to name a few. The club is known for its sailing facilities on the Arabian sea. Other than that, it houses a library, Club shop, Bar, Lounge, and ballrooms for its exclusive members. The club offers chambers for residence overlooking the Gateway of India, a bar, a lounge, a restaurant , ballrooms, a club shop, a library, a members’ sleeping room, and sailing facilities in the Arabian Sea.

Timeline of restoration:Old Yacht Club, Mumbai - Sheet1

Style and Architecture  | Mumbai Yacht Club

The Royal yacht club was built in indo – gothic style of architecture with Victorian interiors. Gothic style was prevalent in Bombay during the mid- 19th century . The building boasts a rich material palette consisting of Mangalore tiles, Wood, and extensive plaster work. It has intricate glasswork in its openings and features a rich earthy color palette. The stone cladding on the exterior gives the yacht club exquisite air. The Roof style is an amalgamation of sloping roofs and conical pointed roofs at the edges of the building, accentuating the structure. The original interior was Victorian in style and featured intricate woodwork with a smooth plaster finish on the walls. The stained glass adds to the signature gothic look of the old yacht club. Wood’s rich brown tones and creamy white palette give a royal look. The corridors and interiors see the extensive use of pointed arches set against high ceilings, another prominent feature of gothic architecture.

Timeline of restoration:Old Yacht Club, Mumbai - Sheet3

The old yacht club building is an essential milestone in the gothic buildings of Bombay. Under the crown rule during the mid-19th century, Bombay’s Gothic style became prominently used. Some famous examples of Gothic-style buildings in Bombay are, The telegraph office, saint Xavier’s college, and Chhatrapati Shivaji Terminus, to name a few. While the earliest of them were designed and commissioned by the Britishers, the mid-1800s saw a rise in the opium and cotton trade, making Indian merchants wealthier. This led to them also commissioning work from British architects as an attempt to mark their presence in Mumbai . This was succeeded by the birth of the Hindu gothic style, which saw elements like chhatris, jails, domes etc. combined with typical gothic features like split facades, multi-colored stained glasses, etchings, and engravings in the façade, pointed arches etc., used in a mixture of Indian and foreign material palette.

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Restoration

The restoration of the Old Yacht club was initially done by Ar. Vikas Dilwari in the year 2012. It included efforts to restore the club’s original Victorian interiors and treat its exteriors and common areas. Art deco style was introduced to the flooring, making it lively and cheerful. This was followed by restoration efforts by Somaya and Kalappa architects , a conservation firm based out of Mumbai. They worked on strengthening the original structure. The requirements of the new user, the department of atomic energy government of India, were kept in mind during the restoration. The year 1976 saw about one-third of the structure being demolished due to structural reasons. So R.C.C. interventions had to be done by S.N.K. The restoration efforts received much applause and an award of merit from UNESCO during the 2013 Asia-Pacific Heritage awards. The old yacht club, in all its indo gothic glory, remains a hidden gem in the sea of gothic, Victorian and colonial buildings of Bombay.

History | Mumbai Yacht Club

The old yacht club was constructed in 1846. It was initially presided over by Henry Morland as the club Commodore, responsible for the management and running of the club. It took 30 years for the club to become known as the royal Bombay yacht club, on the recommendation of sir Philip Edmond Wodehouse and the patronage of Queen Victoria. The year 1881 saw the construction of the seafront clubhouse. The prominence of the club rose after that. The royal family of Duke, Duchess of Connaught, and H.R.H. prince Arthur were some of the club’s prominent personalities in its initial years of commencement. The club was initially restricted to Indian members, but flowing a brief closure in 1958 for not accepting Indian members, it started accepting. A clubhouse was added to the existing structure in 1896. The purpose of this clubhouse was to provide accommodations for its members. The new clubhouse was executed in Venetian gothic style with indo Saracenic features.

Timeline of restoration:Old Yacht Club, Mumbai - Sheet2

References:

  • Gehi, R., 2022. Cementing history. [online] Mumbai Mirror. Available at: <https://mumbaimirror.indiatimes.com/others/sunday-read/cementing-history/articleshow/58876770.cms> [Accessed 13 August 2022].
  • Rbyc.co.in. 2022. Royal Bombay Yacht Club. [online] Available at: <https://www.rbyc.co.in/> [Accessed 13 August 2022].
  • Snkindia.com. 2022. The Old Yacht Club. [online] Available at: <https://www.snkindia.com/project.php?category_id=3&project_id=54> [Accessed 13 August 2022].
  • andBeyond. 2022. Bombay Gothic. [online] Available at: <https://www.andbeyond.com/experiences/asia/india/west-india/mumbai/bombay-gothic/#:~:text=The%20essence%20of%20a%20Bombay%20Gothic%20Tour&text=Gothic%20architecture%20in%20India%20originated,%2Dcoloured%20stained%2Dglass%20windows.> [Accessed 13 August 2022].

Timeline of restoration:Old Yacht Club, Mumbai - Sheet1

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    The restoration efforts received much applause and an award of merit from UNESCO during the 2013 Asia-Pacific Heritage awards. The old yacht club, in all its indo gothic glory, remains a hidden gem in the sea of gothic, Victorian and colonial buildings of Bombay. History | Mumbai Yacht Club. The old yacht club was constructed in 1846.