Emerging Holiday Home Investment Destination Flanking Goa

Torbit - March 29, 2024 - - 0 |

Kudal, a coastal town in Sindhudurg district in Maharashtra, bordering the newly operational MOPA airport in North Goa, is emerging as a potential investment destination for branded land, holiday homes and retirement cottages.

The average price of branded lands in Kudal presently ranges from 1500- 1800/ sq. ft. but will reach 3500- 4500/ sq. ft. in another 4-5 years, spiraling at a CAGR of 20-25%, as per the latest real estate report released by Axon Developers.

Kudal was largely known for its sloppy hills where Alphonso mango and cashews were grown. This quaint town in the central Sindhudurg district is an amalgamation of rich cultural history, verdant landscapes, exotic water bodies, and mouth-watering delicacies. Yet the quaint township with a population of around 25,000 was a relatively unexplored tourism destination. It was often dwarfed by neighbouring Goa.

Things changed the previous year when the Rs 2300 crore MOPA airport project was unveiled. While there was an operational airport at Chippi in Sindhudurg district, MOPA located around 45 minutes from Kudal, added further impetus to the connectivity. This not only meant increased tourism business but also a windfall of investments in real estate, hospitality, wellness centers, and F&Bs, for Kudal and a host of other provinces in Sindhudurg such as Sasoli, Vengurla, Shrimoga, etc.

“There is an increased spotlight on emerging realty markets like Kudal which is blessed with spellbinding natural lake views, idyllic rural backyards, thick eco reserves, and pristine sea beaches. There is a gold rush among developers who are now looking to create concept-based real estate, second homes, and retirement cottages. Kudal is also a hot cake for business entities looking to capture the long rental and wellness space,” says Ankit Kansal, Founder & MD, Axon Developers.

Not just the two functional airports within 45 minutes of drive, Kudal also enjoys great road and railway line connectivity. It is connected via NH 66, Sagari Mahamarg, and Kudal-Vengurla Road. Likewise, it is easily accessible via the Konkan railway lines.“Besides major source markets in southern and western India, there is also an increased interest from buyers and investors from Delhi NCR towards property in Kudal. NCR is landlocked with absolutely very limited natural beauty. This always intrigues buyers from NCR to explore and buy second homes in new places with idyllic environs and serene weather.” adds Kansal.

Meanwhile this high potential of Kudal can be leveraged to develop it as a sustainable real estate and tourism destination. For this, major stakeholders such as development agencies, private players, NGOs, and the local community must work coherently and systematically. Public and private players should also work in tandem to boost the local infrastructure through roadways, water supplies, sanitation, health care facilities, schools, etc. While working on large-scale projects is a welcome step, it is also essential to promote local culture, cuisines, wellness practices, music, yoga, and other indigenous unique experiences to further increase the potential of Kudal as an investment destination for holiday/vacation homes.

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