How Will The Development of MOPA Impact Real Estate in North Goa?

A Massive Real Estate Boom in North Goa Looks Imminent With MOPA Coming into Being

Airports have always acted as a spur for nearby real estate development. Gurgaon's prosperity has been credited in large part to the city's location so close to the international airport.

The international airport at North Bangalore at Devenahalli has transformed the area into a thriving business and housing sector. Airports are massive infrastructure projects that may draw attention to a place by connecting it with the rest of India and the globe. Airport developments also sometimes include other types of regional development, such as hotels and resorts, theme parks, concept tourism, aero-cities, high street retail and shopping malls, offices, townships, and so on. This is a precursor to much more widespread economic change.

The north Goa region and the Konkan belt are two examples of areas that will soon get a revitalising boost. Northern Goa's MOPA airport is nearing completion and will go into its first phase of operations very shortly. When finished in three phases, the airport will be able to handle over 13 million people annually.

The 232 acres of commercial development that will accompany the Rs 2300 crores mega project will have conference centres, hotels, casinos, retail, and much more. Requests for proposals (RFPs) for the massive undertaking have already been issued.

The airport expansion project will have far-reaching beneficial effects, transforming the area into a thriving business and residential hub. A rise in retirement villa and farm construction is expected in the area due to its beautiful scenery and mild climate. Plantations of cashews, berries, gourds, spices, and many more are abundant in the Konkan and Goan areas, driving up the demand for rural properties. The closeness of major metropolitan areas like Mumbai, Bangalore, Hyderabad, and Chennai further contributes to the region's rising demand for retirement communities.