The newly built Chipi airport is driving real estate growth in various parts of Sindhudurg, including Malvan, Vengurla, Sasoli, etc. as per a report by Axon Developers in partnership with 360 Realtors.
Sindhudurg located in the southern parts of Maharashtra, bordering Goa, Raighad, and Ratnagiri districts is nature’s true gem.
The beautiful Konkan town is blessed with panoramic views of vast Arabian sea, beautiful white sea beaches, verdant hillocks, picturesque hills of western Ghats and much more. The region has traditionally been a popular weekend destination in Maharashtra. However, with the opening of the Chipi Airport, its connectivity and accessibility are changing, which is also giving a massive push to real estate activities in the region.
“The region with its pristine beauty, tranquil environs, and pollution free atmosphere is becoming a growing hub for second homes, premium gated villas, retirement homes, etc. There is an equal vigor for hospitality themed projects such as eco resorts, rental villas, spas, etc. catering to the growing need for wellness, rejuvenation, stress-free lifestyle amongst urban dwellers.” Quoted, Ankit Kansal, MD, Axon Developers.
As per the report, property prices are moving up at a scorching pace in the range of 24- 25% yearly. In the South of Sindhudurg, Vengurla is becoming popular destination amongst second homebuyers & long rentals. Land are available in the range of INR 1600-1800 per Sq. Ft in Vengurla and slated to reach over INR 3800 by 2028.
In the central parts of Sindhudurg, Kudal is becoming a popular second home destination amongst many migrant locals as well as investors from metros such as Bangalore, Mumbai, and Bangalore. A census town with modest population of around ~ 25,000, Kudal is located on the hilly terrains and is known for green fields, orchards, and natural lakes. Lands are available for around INR 1,850/ Sq. Ft. and is growing at a CAGR of 25.6% yearly, fueled by rise in demand from second home buyers.
“Tourism industry in Sindhudurg is gaining prominence. Besides leisure tourism, there is growing potential for alternate tourism activities such as snorkeling, mangrove safaris, staycations, Ayurveda retreats, and much more. This will also fuel the demand for tourism activities in the region.” Added Ankit Kansal.
Speaking on the report Vansh Kataria, Co-founder of Tirasya Estates said, “Goa’s real estate market is witnessing unprecedented growth, driven by a unique combination of factors. The state’s infrastructure development, such as the expansion of the NH-66, the Zuari Bridge, and the imminent completion of the Mopa Airport link road, has significantly enhanced its appeal for homebuyers and investors alike. Additionally, the region’s natural charm, vibrant tourism, and the growing demand for luxury and second homes are driving housing prices upward. Crossing the Rs 10,000 per sq. ft. mark reflects not just the premium value of Goa’s real estate but also the increasing preference for quality lifestyle and investment opportunities.”