North Goa's 'Anjuna' by 6th Venture of Taj Hotels is soon to be available

In an announcement made on August 2, Bharat Realty Venture Pvt Ltd. (BRVPL) confirmed that the development of the sixth Taj Hotel in Anjuna located in North Goa is scheduled to commence next month and expected to be finished by September 2027. The hotel will consist of 170 rooms with a scenic view of the sea and will occupy a land plot covering an area of 17 acres worthing Rs.300 crore as stated in their press release.

The vacant site was transferred by GTDC in April 2024, with construction scheduled to commence in September 2024. It is anticipated that the construction will be finalized within the following three years, by September 2027. The company's statement mentioned that this establishment will mark the sixth Taj Hotel in Goa.  

In July of 2024, the company declared its collaboration with The Indian Hotels Company Limited (IHCL), which manages the Taj brand. They inked a management contract to operate their facility. BRVPL confirmed that it secured a land parcel via GTDC for a 60-year lease agreement. 

The company stated on August 2 that Bharat is responsible for constructing the hotel at its own expense and operating the facility. Bharat has paid an upfront fee of Rs.35 crore to GTDC and will also pay GTDC 5% of the gross top-line revenues.

The property boasts an unobstructed view of the Arabian Sea. "Featuring North Goa's largest dining area with outdoor grounds, this property is ideal for social gatherings and weddings. This partnership aims to redefine luxury and enhance the hospitality experience in one of India's most coveted destinations," the company stated. 

Dhaval Barot, MD and CEO of Bharat Realty Venture Pvt Ltd. said,"Our first hospitality collaboration emphasized our joint mission to provide unparalleled hospitality encounters and enhance Goa's tourism environment. The forthcoming luxury hotel will serve as a fresh destination for voyagers."

In addition to its hospitality venture in Goa, BRVPL is engaged in developing luxury residential projects in Mumbai. The company operates in areas such as Andheri, Vile Parle, and Thane.

Delhi-NCR-based listed real estate developer DLF is set to launch 62 ultra-luxury villas in Goa in the second half of the financial year 2024-2025, with prices ranging between Rs.40 crore and Rs.50 crore.

The luxury villa project is situated on Reis Mago Hill in Goa, approximately 32 km from Goa International Airport in Dabolim.

According to Sotheby’s International Realty (ISIR)’s Luxury Outlook Survey 2024, about 35 percent of holiday home buyers favored Goa as a second home destination, underscoring the region's appeal among India's affluent.

According to a report released by PropEquity, Goa was ranked second in terms of 90% increase in launch prices for residential units in the past five years among second home destinations.