BUSY RUNWAY Axis, Yugen among cos launching projects to be part of a township in region.
New Delhi: Recently opened MO PA airport in Goa has opened up the option of a large township in the region with developers acquiring land on the Goa-Maharash- tra border. Since land is scarce in Goa, developers are acquiring land on the Maharashtra side for a large scale-project.
Recently, Axis Ecorp acquired 150 acres, Yugen Infra bought 300 acres and Axon launched a 600- acre mixed-use project in partnership with Ess Vee Developers.
“Not only from cities in India, Indians living in other countries are also very keen to invest in a holiday home. The airport has le- ad to the development in areas where large land is available and developers can plan multiple faci- lities,” said Aditya Kushwaha, CEO, Axis Ecorp, which has Axis Blues, Axis Yog Villas and Axis Lake City. Yugen Infra, a joint venture of Timespro Consulting and VK Developers, has acquired 300 acres of land acquired in the initial phase and is looking to make more deals. The estimated cumulative gross development value (GDV) of this ambitious project is 1,000 crore and Yugen is making an outlay of ₹150 crore in the first phase of this project.
“Goa is one of the most sought- after markets in the country due to high appreciation, high rental yields, and preferred second home destination. Besides Manohar International Airport and many star hotels in the adjacent surroundings, the project location is immensely attractive to businesses as well who understand the significance of ambience and connectivity,” said Sheeshram Yadav, managing director, Yugen Infra.
According to industry reports, recently opened MOPA airport in Goa is expected to channel investments of 2,700 crore by 2030.
This investment will be directed towards the MOPA region in developing luxury hotels, eco hotels, nature and wellness resorts and homestays, among others.
“With the influx of buyers, Goa is getting saturated in terms of real estate development. However, new areas have emerged where buyers are also ready to invest realising the future potential,” said Sachin.
Source- The Economic Times
