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 per cent. 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. Commenting on the MOPA Airport, Aditya Kushwaha, CEO and Director of Axis Ecorp says, “With the imminent inauguration of MOPA Airport, North of Goa and the neighbouring Konkan region are poised to experience a real estate investment boom.