Prime Minister Narendra Modi on Sunday inaugurated Goa’s second international airport. The Rs 2,870 crore new greenfield airport which saw multiple delays due to protests over environmental concerns and Covid-19 will cater to around 4.4 million passengers per annum (MPPA) in the first phase which can be expanded to a saturation capacity of 33 MPPA. The airport will start operations from January 5, 2022.
The airport, named after former Defence Minister and Goa CM Manohar Parrikar is situated near Mopa village in North Goa and has been built on 2,132 acres at a cost of Rs 2,870 crores.
The Manohar International Airport has a 3,500-metre runway and consists of 18 check-in counters. Furthermore, it is capable of handling large aircrafts such as the Airbus A380, and also features rapid exit taxiways and six cross taxiways for quicker aircraft movement. It currently has 12 aircraft stands — five with passenger boarding bridges and seven remote parking bays.
The existing Goa International Airport in Dabolim, South Goa, handles about 8.5 million passengers per annum. It has reached a saturation point in terms of slots and passenger capacity.
“Before 2014, air travel was a luxury in India. Previous governments did not think that general class train passengers also want to travel by air. Those governments were reluctant to invest in airports. From 1947 to 2014, India only had 70 airports. We wish to spread air travel to smaller regions. In the last eight years, about 72 new airports have been developed” the prime minister shared in his speech at the inaugural function of the airport.
But the big question is whether Second Goa airport will further boosts Goa’s real estate market?
Here’s what experts say.
Samir Saran, Managing Partner, India Sotheby’s International Realty
As a full-service airport with domestic and international flights, along with freight services, the Mopa International Airport is undoubtedly an excellent addition for the all-round development of Goa. We are convinced the inauguration of this second airport in Goa will add immense value to a state which is increasingly becoming desirable for not just for tourism, but for a higher quality of life.
At India Sotheby’s International Realty, we’ve seen a huge spike in demand for residential homes in North Goa, anticipating the new airport infrastructure and we’ve closed a record number of transactions between 2021 and now. We only expect this momentum to strengthen, as the airport becomes fully operational in phases and more airlines announce their flights to Mopa.
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Taha Ansari, Managing Director, Project Management (Developer Relations), Colliers India
“With the inauguration of New International Airport at Mopa by Honourable Prime Minister on Sunday, 11th December 2022. MOPA Airport is situated in North Goa, 35 Kms from the capital city of Panjim connects both North as well as South Goa. This completely connects entire Goa to the world for Aviation service accessibility, opening opportunities of comprehensive growth for entire Goa, by increasing cargo handling capacity, augmentation of Passenger handling capacity thus promising growth opportunities for all sectors in Goa like Real estate, Hospitality and Industries. The addition of this new airport not only gives tourist an optional preference to select their landing and departing options on basis of their time duration and preferred location of travel across Goa.”
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Anupam Rastogi, Co-founder and CBO-NRI Sales, Square Yards
Goa’s new Mopa airport is a significant milestone for the tourist destination and will be a growth multiplier for real estate development especially in the North Goa hinterland as well as the nearby Konkan region. Goa has always been a haven for second homes, villas and farmhouses and this new transport connectivity with the globe will add to the trend and create a windfall in real estate investments. Demand for luxury cottages, row houses and premium apartments are most likely to soar in the coming months as NRIs and well-off Indians take a special pride in owning a property in the beach paradise. Further, the buzz about this new airport will inflate both real estate and rental prices in and around North Goa. Though property prices have already surged since the construction of the airport, a fresh spike is expected once the airport becomes operational in 2023, something that will auger well for real estate investors keen to buy a property there.
