The Manohar International Airport has recently been inaugurated in Goa and it will positively boost the realty market according to experts. The cutting-edge Mopa Airport will sizably enhance overall connectivity while boosting tourism and transforming Goa into one of India’s biggest luxury markets. According to the Co-Founder and CBO-NRI Sales, Square Yards, Anupam Rastogi, the new Mopa airport at Goa will be a major shot in the arm for tourism while functioning as a growth multiplier for realty development, particularly in the North Goa zone and surrounding Konkan areas. Rastogi states that Goa has been a major destination for second homes, farmhouses, and villas, and the new connectivity boost will naturally lead to major realty investments for the State in the new future.
He feels that demand is likely to go up for premium apartments, luxury cottages, and row houses in Goa over the next few months, with affluent Indian buyers and NRIs covering property in this beautiful destination. The new airport has already generated a buzz that will lead to appreciation in rental and real estate prices in and near North Goa. Property prices have already gone up since the development work began for the airport, although a fresh increase is anticipated once the airport starts fully functioning from 2023 onwards. This will bode well for realty investors who are keen to invest in property here, according to him. The North Goa airport is being developed with a project cost of Rs.2, 870 crore approximately and is the second in the State after the Dabolim Airport. The new airport also comes with cargo transportation facilities, which will also boost the State in the future.
The Mopa Airport lies 35 km away from Panjim and links both South and North Goa while opening up the State to better aviation services, cargo handling and logistics growth, and more opportunities in real estate, industry, and hospitality according to several other industry experts. The airport will cater massively to the growing tourism sector in Goa, while becoming a future logistics hub that links several global and domestic locations. It will also positively benefit the luxury real estate segment. Experts anticipate investments of Rs. 2,700 crore near the region of the Mopa Airport by 2030. The airport will have passenger handling capacity of 44 lakh people every year in its first phase and this will increase to 1 crore people in another year after completion. Multi-modal connectivity is also planned for the airport.
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Financial Express – https://bit.ly/3BNJAUi
Published Date: Dec 14, 2022
