Mopa Airport is catapulting Sindhudurg into a thriving second home market

By: Sanjeev Arora, Director- 360 Realtors

After the opening of the Mopa airport at Pernem, in North Goa, there is an increased focus on Sindhudurg and its nearby areas stretching across the Goa- Maharashtra border, making them the new poster boys of nature and leisure tourism.
 

Sindhudurg is blessed with unparalleled scenic natural beauty. Located on the Western Ghats, it has extensive seashores, beautiful sparkling blue waters, and silver sands, making it the perfect place for sunbathing, swimming, picnics, and water sports. There are beautiful estuaries, backwaters, and hill stations covered with dense forests. This eye-catching locale also has beautiful waterfalls and springs, which are further highlighted by verdant landscapes. It is the perfect place for someone to disconnect from hectic routines of day-to-day life and bond with nature to recharge their batteries. Whether one is a long vacationer or a weekender, Sindhudurg is a mesmerizing destination ideal for both.
 

Sindhudurg is also a foodie’s paradise, known for finger-licking cuisines from the Konkani-Malvani- Maharashtrian heritage. Its wide array of gastronomic indulgences covers seafood, numerous veg & non-veg curries, fresh bakery items, locally prepared beverages, soups, and much more.
  

In the past, Sindhudurg’s potential has been overshadowed by Goa’s thriving tourism industry. However, with the opening of the international airport in the backyard, the tables are turning in favor of the Sindhudurg region. After the state-of-the-art airport, built with  a budget of 2300 crores, Sindhudurg is now smoothly connected with India & the rest of the world, and its tourism industry is set to go places.

A barrage of new development in the wings
In the wake of the airport, Sindhudurg & nearby regions will see a barrage of new development, giving the region a facelift. Permission has been granted to Deltin Group to develop a 3000- crore integrated casino-resort spread across 90 acres. The grand project will be the first on-land casino in India and is slated to be completed by 2027.
 

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A 232-acre aerocity will be developed adjacent to the Mopa airport. It will have hotels, resorts, malls & high streets, commercial offices, exhibition halls, as well as its own casinos and amusement facilities. The aerocity, in conjunction with the airport, will also vitalize B2B tourism in the region. Soon there will be a surge in business meetings, exhibitions, conventions, and other corporate events thereby imparting a long-lasting makeover to the region. 

A new international cricket stadium will also be built at Dhargal, North Goa, located at a distance of ~ 20 mins from Sindhudurg. The stadium will be built by the Goa Cricket Association (GCA) and the lands have already been allotted. The Goa administration is also planning to develop a film city and training institute in the vicinity of the Mopa airport.

A new dawn for real estate and hospitality

As Mopa has taken off, real estate and hospitality investments are proliferating in the region. Sindhudurg is emerging as one of the fastest-growing second homes and rental villa markets, with big developers eyeing mega launches. Already, Axon Developers in partnership with Amour has launched a 600-acre branded land development called “The Origin”, which has gated villas, farmhouses, serviced apartments, hotels, lifestyle retail, and an assortment of amenities. This is among the largest branded land developments in India.
 

Following the opening of the airport, there is a gold rush to own land parcels, low-rise properties, and villa units in Sindhudurg and the nearby region,. Prices of properties have risen by 25-30% in the past 12 months, making Sindhudurg one of the fastest-growing property markets. The rental market is also on an upswing with an average rental yield of 7.2%. This places Sindhudurg ahead of other prominent second markets such as Shimla,  Lonavla, Mussoorie, etc.  The growing trend of workcation and long leases by Gen-X and millennials amidst WFH and hybrid working models are further driving rental rates in an upward trajectory.
 

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As Sindhudurg’s profile is climbing, more investments are getting directed towards its hospitality industry as well. Research suggests that close to 2700 crores will be invested by 2030 to develop new hotels and resorts. This will translate into 1500 new rooms and an area of 78,000 sq. mt. Besides 4-star & 5-star hotels, and budget accommodations, Sindhudurg will witness a spurt in investments in concept tourism as well such as forest lodges, jungle resorts & cottages, eco hotels, wellness centers & spas, ethnic eateries & restaurants, and homestay villas. There will also be a jump in other complementary segments such as travel operators, wellness packages, holistic health tours, spiritual & yoga retreats, event management business, and much more.