MOPA Airport will change the fortunes of Goa and the Sindhudurg region
The much-awaited MOPA project is expected to be operational soon. It is one of the region's most anticipated projects, and rightly so. T` current airport in Goa has been undeserving the region. It does not have the requisite infrastructure nor scalability. With the MOPA airport, these problems will soon be a thing of the past. Analysts are expecting an influx of tourists to the entire Konkan belt. The result will be an overall development of the area. It is expected that this development will rub off on the real estate sector as well.
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.
Axis Ecorp has several upcoming projects in this region, which include Axis Blues, Axis Yog Vilas, Axis Lake City and Axis Lake City Plaza. The company has already exhausted its inventory for Axis Blues and as the inauguration of the new airport is drawing close, there has been a strong uptick in the inquiries for the Axis Yog Villas and Axis Lake City. These projects are just 18km away from the greenfield project and thus the valuation for the project is expected to skyrocket in the days to come.
