NCR developers find new home in Goa
At least half a dozen NCR builders, including DLF, Sabh Infra, Exxon, Bhutani, Veera Group and Axis Ecorp have either announced or are planning projects in Goa
The recently opened Manohar Parrikar airport in Goa and the increasing interest of the people of Delhi-NCR in Goa have increased the demand for homes there. This is the reason why big developers of Delhi-NCR are busy in launching their projects in Goa. At least half a dozen NCR builders, including DLF, Sabh Infra, Exxon, Bhutani, Veera Group and Axis Ecorp have either announced or are planning projects in Goa. According to him, Goa is now becoming the second home of the people.
Due to the increasing trend of working from home during covid, people are looking for a better house. During this period the rent in Goa has also increased. Those living in metros consider Goa as an alternative option. Since properties are expensive in major cities, investment in Goa can prove to be profitable. Due to being a tourist center, rent can also be good here, so the demand for property is increasing rapidly in Goa.
According to industry reports, the recently opened airport in Goa is expected to attract an investment of Rs 2,700 crore by 2030. Under this, luxury hotels, eco hotels, nature and wellness resorts and homestays will be developed in this area. Goa is the richest state in India in terms of per capita income and it attracts investments from all over the country. Due to which the developers here are looking for the possibility of good growth.
Reasons for increasing demand for property in Goa
Developers say that more than 50% of buyers in Goa are from Delhi and developers who have delivered properties in Delhi are moving to Goa to meet the demand coming from their existing buyers. They believe that the demand for real estate is increasing in Goa due to improvement in infrastructure, smart city development and establishment of the new airport. Apart from this, the demand for second homes is skyrocketing among buyers from metro cities like Delhi, Mumbai and Bangalore, due to which many developers from Delhi-NCR and other metro areas are developing their projects in Goa.
What is the opinion of the developers?
In this regard, Manik Sabharwal, director of Delhi-based developer Sabh Infrastructure, says that the company has developed about 30 lakh sq ft property in Delhi and about 3 lakh sq ft property in Goa. There are plans to further expand the holiday home destination in the future. On the other hand, Ashish Bhutani, co-founder and CEO of Bhutani Infra, says that due to the increasing demand for commercial spaces, the demand for homes in Goa has increased.