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MOPA Airport will change the fortunes of Goa and Sindhudurg region
Panjim, September 10: The much-awaited MOPA project is expected to be operational soon. It is one of the region’s most anticipated projects, and rightly so. The current airport in Goa has been undeserving of the region. It does not have the requisite infrastructure nor scalability. With the MOPA airport, these problems will soon be a […]
Panjim, September 10: The much-awaited MOPA project is expected to be operational soon. It is one of the region’s most anticipated projects, and rightly so. The current airport in Goa has been undeserving of the region. It does not have the requisite infrastructure nor scalability. With the MOPA airport, these problems will soon be a thing of the past. Analysts are expecting an influx of tourists to the entire Konkan belt. The result will be an overall development of the area. It is expected that this development will rub off on the real estate sector as well.
Property prices in the area will increase dramatically after operations begin, according to a study by 360 Realtors, one of India’s top real estate advisors. In the next 12 months, property values in the airport’s immediate vicinity, where the current average price per square foot is Rs 6,700, can increase by 27.8%. According to data by 360 Realtors, the average price of a home has grown over the last four years at a CAGR of 3.9 per cent. Following the opening of the airport, there will be an increase in real estate investment and tourism activity, which will be the cause of the price increase.
Average real estate prices in the neighbouring Sindhudurg region, which is also a popular location for second homes and natural resorts, may rise by 29.2 per cent yearly. Currently, the average cost per square foot is Rs 4,921. Property prices in Sindhudurg have increased on average at a CAGR of 6.8 per cent over the last four years.
