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Delhi-NCR builders pitch Goa as ‘second home’


Developers from Delhi-NCR are on an acquisition spree in Goa as demand for second homes has increased, with the tropical paradise that is India’s richest state by per capita income drawing investment from all over the country.

At least half a dozen builders from NCR including DLF, Sabh infra, Axon, Bhutani, Veera group and Axis Ecorp have either announced or are in the process of announcing projects in Goa.

According to industry reports, recently opened MOPA airport in Goa is expected to channel investments of Rs 2,700 crore by 2030.

This investment will be directed toward the MOPA region in developing luxury hotels, eco hotels, nature and wellness resorts and homestays among others.

“Due to the rise in work from home trend during covid, rentals have also been on the rise in Goa. People from metros consider Goa as an alternative option as properties are expensive in main cities and rental returns in single digit while Goa can offer double digit return on investment,” said Manik Sabharwal, director at Sabh infrastructure, a Delhi-based developer who has expanded presence in Goa.

The company has developed about 3 million sq ft in Delhi and about 3 lakh sq ft in Goa and plans to expand further in holiday home destinations.“The sustained expansion of the Goa market can largely be attributed to the rising demand for upscale properties and commercial spaces,” said Ashish Bhutani, Co-founder & CEO, Bhutani Infra.Noida-based Bhutani Infra has also acquired land in Goa and will soon come up with a luxury project.

“More than 50% of the buyers in Goa are from Delhi and developers who have delivered in Delhi are moving to Goa to fulfil the demand coming from their existing buyers. Most of the upcoming projects are boutique developments with good rental returns,” said Rohit Chopra, founder of, a boutique consultancy firm.

The recent infrastructure improvements, smart city development, and the establishment of the new MOPA airport are other factors contributing to the burgeoning real estate demand in Goa.

“The demand for second homes among buyers from metro cities such as Delhi, Mumbai and Bengaluru has skyrocketed, prompting many developers from Delhi-NCR and other metro areas to explore projects in Goa. Our first project, Axis Blues, was sold out in no time, and we received an exceptional response for Axis Yog Villas and Axis Lake City,” said Aditya Kushwaha, CEO and Director, Axis Ecorp.

Gaurav Jain, managing director at Delhi-based Veera Developers, said for an outsider buying real estate is a complex process unless it is from a reputed developer.

“There are so many new age concepts these days which allow buyer to own fraction of the property as well. With covid, there is a rise of aspirational class, who wants to have a property at holiday destination as well. For most of the buyer, Goa is the preferred choice among all the other holiday destinations,” said Jain.

In Sasoli, just adjacent to the airport area, Axon is also launching a 600-acre mixed-use project in partnership with Ess Vee Developers.,

“Another factor that has given a monumental shift is the opening of the new airport at Pernem, which is acting as a gateway for North Goa and the nearby Sindhudurg region. Property prices have started jumping in the range of 20-25% yearly after the advent of the airport,” said Ankit Kansal, MD, AXON Developers.

Already after the pandemic, Goan tourism is on a strong footing with the average occupancy of over 70%. During the extended weekend, the occupancy touches 100% mark.

“We are getting a lot of requests from developers as well who want to acquire land and develop projects in Goa. People are willing to go as far as Maharashtra border and develop projects there,” said Abhisshek Tiwari, consumer at


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