DLF to enter Goa market, to launch luxury villas for ₹40 to 50 crore

The luxury villa project is located on a hill named Reis Mago in Goa which is around 32 km away from the Goa International Airport in Dabolim.

Managing director and chief financial officer Ashok Tyagi had told analysts on July 26 that the luxury residential project in Goa will be launched in the September quarter.

The Goa project site is located near Candolim beach which is at a distance of 4 km. Baga Beach and Calangute beach are at a distance of 10 and 12 km respectively.

“Over the past two years, the definition of luxury homes has evolved, driven by a significant rise in buyer intent. Goa, in particular, has emerged as a prime destination for second homes, with a notable surge in luxury developments. In line with this, we announced our entry into Goa with a gated villa community project in North Goa’s Reis Magos earlier this year. This will be DLF’s first super luxury residential project outside of NCR and will create a benchmark in the segment,” said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers.

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“There is a shift in investment preference towards real estate, particularly high-value holiday homes set in natural surroundings away from metropolitan areas. This trend, amplified by ultra/high net-worth individuals, non-resident Indians, and corporate professionals, has led to increased demand for luxury properties,” Ohri added.

As per Sotheby’s International Realty (ISIR)’s Luxury Outlook Survey 2024, around 35 percent of holiday home buyers preferred Goa as a second home destination, which highlights Goa’s appeal among India’s wealthy.

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DLF plans to launch nearly 37 million square feet area for sale in the medium term across various cities with revenue potential of ₹1.04 lakh crore as part of its strategy to encash strong demand for luxury homes. In its latest investor presentation for the FY25 April-June quarter.

Goa remains preferred choice for second home buyers

Young professionals find it attractive to invest in gated villas in Goa because the segment offers attractive rental yields and capital appreciation, according to a recent research report released by Savills India, a real estate consultancy firm.

While the return on rentals is anything between 5 to 8% approximately, Grade A locations such as Anjum, Arpora, Baga, Calangute, Candolim have witnessed a 22% capital appreciation in villa prices in the FY 2023-2024, the report had said.

Also Read: Have a crore to invest in a second home in Goa? Here’s what you should know

Goa also featured on the second spot with 90% appreciation in launch prices of residential units in the second home destination over the last five years, a report released by PropEquity on top 10 tier-2 cities’ real estate growth had said.