How is MOPA transforming Goa's Luxury Real Estate Landscape?

Goa, once famed for its easygoing atmosphere and artistic flair, is now transforming into a premier real estate destination likened to the "Monaco of India" and the "Miami Sector." The introduction of Manohar International Airport in Mopa has ignited a boom in high-end property developments, making Goa real estate an attractive hub for wealthy investors.

The rise of Mopa as a premier real estate destination is surely adding a new dimension to the already popular Goa real estate sector.

Mopa: The New Jewel of Goa Real Estate

Mopa, a village in Pernem, North Goa, has rapidly become the focal point of luxury real estate developments, thanks to the Manohar International Airport. This airport, developed by GMR Goa International Airport Limited (GGIAL), has been a catalyst for unprecedented growth and transformation in the region.

Key Details and Impact of Manohar International Airport

• Location: Mopa, Pernem taluka, North Goa district, Goa, India
• Serves: North Goa, adjoining districts of Karnataka and Maharashtra
• Developer: GMR Goa International Airport Limited (GGIAL)
• Cost: ₹3,000 crore (equivalent to ₹32 billion or US$380 million in 2023)
• Inauguration: Opened on 11 December 2022, operations began on 5 January 2023
• Capacity: Currently handles over 4.4 million passengers annually, projected to handle 13.1 million by the end of the fourth phase
• Aircraft Movements: Around 100 aircraft movements and about 15,000 passengers daily
• Rank: 15th busiest airport in India
• Phases: Built under the Build Operate Transfer (BOT) model in four phases, with the first phase costing ₹1,500 crore (US$190 million)
• Concession Period: 40 years with a possible 20-year extension

Mopa Luxury Real Estate Blossoms Attracts Affluent Buyers

The construction of the Manohar International Airport has spurred a wave of luxury real estate projects in Mopa. Notable developers are creating exclusive residential communities, luxury villas, and integrated townships, making Mopa a prime destination for upscale living.

Investor Interest Soars

According to local real estate broker Sai B, the new airport has significantly enhanced connectivity, attracting major real estate firms and investors. Areas like Assagao, Anjuna, Porvorim, and Siolim are witnessing heightened demand, with property prices in Assagao now comparable to premium localities in big cities.

Infrastructure Developments Boosting Commercial and Retail Real Estate in MOPA

The state government has allocated 2,133 acres to GMR Goa International Airport Limited for the greenfield airport. Of this, 232 acres are designated for landside development, including commercial and retail projects, convention centers, and hotels.

Future Projects

The Goa government has proposed several projects to complement the new airport, including an international cricket stadium, a film city, logistic parks, amusement parks, and casinos, all aimed at boosting the region's appeal.

Luxury Developments and Prime Connectivity

Developers like Abhinandan Lodha Group and Prestige Group are launching luxury villa projects near Mopa, emphasizing the proximity to the airport as a key selling point. Yugen Infra is planning an integrated township that encompasses two verdant hills, highlighting the potential for a serene yet connected lifestyle.

Mopa: The Gateway to Luxurious Living

Mopa's strategic location near the new airport enhances its appeal as a destination for luxury living. The scenic beaches of Morjim, Arambol, and Vagator are just 25-35km away, while the vibrant party zones of Calangute, Baga, and Anjuna are less than an hour's drive.

Neighbouring Regions Benefit

Even Maharashtra’s Sindhudurg region is reaping the benefits of the new airport, with property prices rising by 30-40% in the past year. Sindhudurg is thriving as a hospitality, serviced living, and second-home market, attracting substantial investments in the hotel industry. In fact Sindhudurg real estate itself has made rapid growth in the past 5 years and looks a promising destination for property investors too.

Conclusion:

Mopa’s Bright FutureWith its luxury real estate developments and the transformative impact of the Manohar International Airport, Mopa is set to become the new hub of affluence and elegance in Goa. The area promises a blend of serene living, prime connectivity, and investment potential, making it an attractive choice for discerning buyers and investors.

Explore the luxury real estate opportunities in Mopa and be part of this extraordinary transformation.