Source: Times of India (https://bit.ly/3WWwkYo)

Investor interest has taken off because of the Rs 4,494.6 crore Manohar International Airport that has come up at Mopa. The new airport has been a game changer, enhancing connectivity and attracting substantial interest from major real estate firms and investors.

Once celebrated as a haven of laidback charm and bohemian spirit, the tiny state of Goa is now being heralded as ‘Monaco of India’ or ‘Miami Sector’ in glossy brochures and slick websites. Goa is drawing waves of investors and real estate developers are carving out luxury islands in the state.

As the coastal paradise assumes the avatar of a playground for the wellheeled, not only is the shade of its forests changing, but the perceptions of what it stands for are also altering.

Luxury villas and integrated townships are blossoming in what was once an obscure region. Investor interest has taken off because of the Rs 4,494.6 crore Manohar International Airport that has come up at Mopa.
Propelled by major infrastructure projects, the state’s northern part emerged as a real estate hotspot a decade ago. The buyers were enticed by what they thought was coming free with their properties — a romanticised idea of the Goan way of life.

Manohar International Airport, which aims to cater to 40 million passengers per year, has given wings to those allurements.

According to real estate consultancy firms, major developers from across the country have begun to mark their territories in the vicinity of the airport. While some are planning upscale residential projects, others are eying retail and hospitality projects. In tandem with the new airport, Goa govt has proposed an international cricket stadium, a film city, logistic parks, amusement parks, and casinos in and around the airport.

Across the border, the fortunes of Maharashtra’s Sindhudurg are also changing owing to Mopa airport. Property prices have jumped by 30-40% in just 12 months. Sindhudurg is now thriving as a hospitality, servicedliving, and second-home market. By 2030, the region will channel Rs 2,700 crore investment in the hotel industry, industry research suggests.