NCR based Realty firm DLF all set to launch ultra-luxury project worth Rs. 50 crore in Goa

Delhi NCR headquartered prominent realty brand DLF is planning launch a  super-luxury villas costing around Rs. 50 crore in Goa in Q2 FY 2024-25.

As per the survey report by Sotheby’s International Realty (ISIR), nearly 35% of holiday home buyers preferred Goa as a second home destination, which highlights Goa’s appeal among India's wealthy crowd.

This recent trend is driven by few important factors such as including high rental yields, a growing preference for gated communities, and a demographic shift towards younger, lifestyle-focused buyers. 

As per the report,the expected top line of the project will be around Rs. 2,500 crore. The exclusive, by-invitation project will showcase approximately 62 luxury villas in the Reis Magos area of Goa. Set on a 38-acre hillside overlooking the Mandavi River, this super-luxury development will feature villas priced between Rs.40 crore and Rs.50 crore each.

The experts said that, the entry of DLF in Goa indicates the rising popularity of the region and the demand for super-luxury homes in that area. This is also the first time that DLF is launching a super-luxury project outside Delhi-NCR.

Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, Akash Ohri mentioned that, two years have been passed since the definition of luxury has been explained properly and the demand of luxury homes are surging. There is a shift in investment preference towards real estate, particularly high-value holiday homes set in natural surroundings away from metropolitan areas.

He further added, “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.”

He also noted that the trend of investing in luxury properties, particularly high-value holiday homes, has been driven by Ultra High Net-Worth Individuals, Non-Resident Indians, and corporate professionals. This trend has led to a growing demand for luxury properties that provide a global standard of living, complete with amenities such as clubhouses, swimming pools, and business centers.

In a regulatory filing, the company said that, DLF on May 13 had reported a 61.5% jump in its net profit at Rs. 921 crore for the quarter ended March 31, 2024. The company had posted a net profit of Rs.570 crore in the year-ago period.

Previously, Forbes Global Properties announced its plans to develop real estate projects in Goa spread across 10 lakh sq ft, further cementing Goa’s status as a premier destination for luxury real estate investments.