Approximately 32 kilometers from the Goa International Airport in Dabolim, the opulent project will have 62 villas atop Reis Mago, a hill in Goa.
In the second half of the 2024-2025 fiscal year, 62 ultra-luxury villas in Goa, priced between Rs 40 crore and Rs 50 crore, are anticipated to be launched by Delhi, NCR-based listed real estate developer DLF, according to company sources.
The Goa International Airport in Dabolim is about 32 km from the luxury villa project, situated atop the hill of Reis Mago.
Ashok Tyagi, the managing director and chief financial officer, informed analysts on July 26 that the Goa luxury residential project would begin construction in the September quarter.
The distance between the Goa project site and Candolim beach is 4 km. The separation between Baga Beach and Calangute Beach is 10 and 12 km, respectively.
The definition of luxury homes has changed over the past two years due to a noticeable increase in buyer intent. Particularly Goa has become a popular choice for second homes due to a noticeable increase in opulent developments.
Accordingly, we declared our arrival in Goa earlier this year with the launch of a gated villa community project in Reis Magos, North Goa. “This will be DLF’s first ultra-luxury residential project outside of the National Capital Region (NCR) and will set a benchmark in the segment,” stated Aalkash Ohri, DLF Home Developers’ joint managing director and chief business officer.
“Real estate is becoming popular among investors, particularly pricey vacation homes in remote locations away from cities. Ohri went on, “Due to this trend, there is a greater demand for luxury real estate, especially from corporate professionals, non-resident Indians, and extremely wealthy people. Goa’s appeal among India’s affluent is highlighted by the fact that about 35 percent of holiday home buyers chose the destination as a second home, according to Sotheby’s International Realty (ISIR)’s Luxury Outlook Survey 2024.
As part of their strategy to capitalize on the strong demand for luxury homes, DLF intends to offer approximately 37 million square feet of space for sale in multiple cities over the medium term, with a potential revenue of Rs 1.04 lakh crore. In their latest briefing, they discussed the April-June quarter of FY25.
Buyers of second homes continue to favor Goa.
According to a recent research report by real estate consulting firm Savilla India, young professionals find it appealing to invest in gated villas in Goa because the market offers appealing rental yields and capital appreciation.
Grade A locations like Anjum, Arpora, Baga, Calangute, and Candolim have seen a 22% capital appreciation in villa prices in the FY 2023-24, even though the return on rentals is only roughly between 5 and 8%.
According to a report on the top 10 tier-2 cities’ real estate growth, Goa also ranked second, with a 90% appreciation in launch prices of residential units in the second home destination over the previous five years.