DLF Limited, a leading real estate developer based in Delhi-NCR, is set to launch super-luxury villas in Goa this August. The villas, priced around Rs 50 crore each, mark the company’s first venture into the Goa market.
According to Sotheby’s International Realty’s Luxury Outlook Survey 2024, 35 percent of holiday home buyers prefer Goa as a second home destination, as reported by the Money Control this preference is attributed to high rental yields, a growing inclination towards gated communities, and a demographic shift towards younger, lifestyle-focused buyers.
DLF’s exclusive project in the Reis Magos area of North Goa will feature approximately 62 luxury villas, developed on a 38-acre hilltop facing the Mandovi River. The villas will range in price from Rs 40 crore to Rs 50 crore. The project is expected to generate a top line of around Rs 2,500 crore.
Real estate experts suggest that DLF’s entry into Goa signifies the increasing demand for super-luxury homes in the region. This project will be DLF’s first super-luxury residential development outside Delhi-NCR.
Aakash Ohri, Joint Managing Director and Chief Business Officer of DLF Home Developers Ltd, highlighted the evolving definition of luxury homes over the past two years. There has been a significant rise in buyer intent towards high-value holiday homes set in natural surroundings, away from metropolitan areas. “Goa, in particular, has emerged as a prime destination for second homes, with a notable surge in luxury developments. This will be DLF’s first super-luxury residential project outside of NCR and will create a benchmark in the segment,” Ohri said.
He added that the trend of investment in luxury properties, especially high-value holiday homes, has been amplified by Ultra and High Net-Worth Individuals, Non-Resident Indians, and corporate professionals. These buyers are seeking properties that offer a global standard of living with amenities such as clubhouses, swimming pools, and business centers.
DLF recently reported a 61.5 percent jump in its net profit, reaching Rs 921 crore for the quarter ending March 31, 2024, up from Rs 570 crore in the previous year.
North Goa: A Prime Investment Hotspot
North Goa has emerged as a prime hotspot for holiday home investments. Its strategic location near the new MOPA Airport, along with its natural beauty, is attracting investors. A recent report by Savills indicated a 28 percent year-on-year increase in average capital values for villas in North Goa. This rise is attributed to high rental yields and a growing preference for gated villas among younger buyers.
Additionally, Forbes Global Properties has announced plans to develop real estate projects in Goa, covering 10 lakh sq ft, further cementing Goa’s status as a premier destination for luxury real estate investments.
Several NCR builders, including Sabh Infra and Bhutani Infra, are also eyeing Goa for luxury projects. Delhi-based Sabh Infrastructure has about 3 lakh sq ft in Goa and plans to expand further in holiday home destinations. Noida-based Bhutani Infra has acquired land in Goa and is planning a luxury project soon.
DLF’s foray into Goa’s luxury real estate market underscores the region’s growing appeal among affluent buyers. This project represents DLF’s commitment to delivering exceptional residential experiences outside the Delhi-NCR region.