In August, DLF is set to debut opulent villas in Goa, priced at over Rs 50 crore.
Approximately 62 opulent houses in the Reis Magos neighborhood of Goa will be part of the “by invitation” project. A 38-acre hill with a Mandavi River view will host the ultra-luxury property. This project is estimated to generate a top line of about Rs 2,500 crore.
August will see DLF enter the Goa market and introduce opulent homes priced at Rs 50 crore.Super-luxury villas in Goa, estimated to cost around Rs 50 crore, are scheduled to be introduced by Delhi-NCR-based listed real estate developer DLF Limited in Q2 of FY2024–2025, according to sources with knowledge of the situation.
According to Sotheby’s International Realty (ISIR) Luxury Outlook Survey 2024, Goa was favored as a second home location by almost 35 percent of vacation house buyers, indicating the wealthy in India find Goa appealing.
Many variables, such as strong rental yields, the growing popularity of gated communities and the shift in the buyer population towards younger, lifestyle-focused buyers, are driving this trend.
There will be about 62 opulent homes in the Reis Magos neighborhood of Goa as part of the “by invitation” project. Situated on a 38-acre slope overlooking the Mandavi River, the ultra-luxurious property will be built. These DLF properties will have tickets priced between Rs 40 crore and Rs 50 crore.
According to persons informed of the situation, Moneycontrol was informed that the project’s estimated top line is approximately Rs 2,500 crore.
According to real estate analysts, DLF’s arrival in Goa is a sign of the area’s growing popularity and the growing demand for ultra-luxury real estate there. Additionally, this is the first time DLF has introduced an ultra-luxury project outside of Delhi-NCR.
According to the Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd., Mr Aakash Ohri, a notable increase in buyer intent has led the concept of high-end homes to change throughout the last two years. The taste for real estate investments is shifting, especially for expensive vacation properties located far from cities in scenic settings.
With a discernible rise in opulent buildings, Goa in particular has become an increasingly appealing option for second-home buyers. In keeping with this, they are earlier this year announced their foray into Goa with the construction of a gated villa community project in Reis Magos, North Goa. Mr Ohri stated, “This will be DLF’s first ultra-luxury residential project outside of NCR and will set a benchmark in the segment.”
According to him, there is an increasing demand for luxury properties that provide a global standard of living with amenities like clubhouses, swimming pools and business centers. This demand is fuelled by the trend of investment in luxury properties, particularly high-value vacation homes, which has been amplified by Ultra and High Net-Worth Individuals, Non-Resident Indians and Corporate Professionals.
On May 13, DLF said that their net profit for the quarter that ended on March 31, 2024, increased by 61.5 % to Rs 921 crore. The business reported a net profit of Rs 570 crore for the same period last year, according to a regulatory filing.
North Goa is popular for vacation rentals.
Real estate experts say that North Goa has become one of the most popular places to invest in second homes out of all the regions in Goa. Investors are drawn to this region by a multitude of new initiatives, North Goa’s strategic location near the new MOPA Airport and its breathtaking natural surroundings.
According to a recent Savills survey, North Goa Villa’s average capital values increased sharply by 28% year over year. Due to its strong rental yields and the growing inclination of younger, lifestyle-focused buyers towards gated villas, it is becoming more and more popular among homeowners as a second home site.
Goa’s reputation as a top location for luxury real estate investments was further cemented when Forbes Global Properties said earlier that it intended to build real estate projects in the region totaling 10 lakh square feet.
A minimum of six to seven NCR builders, such as DLF, Sabh Infra and Bhutani Infra, have either declared or are in the process of declaring their projects in Goa.
The Delhi-based Sabh Infrastructure has roughly 3 lakh square feet in Goa and intends to grow into more vacation spots. Bhutani Infra, based in Noida, has also purchased property in Goa and intends to develop a high-end property shortly.
