MUMBAI: Luxury second-home developer Isprava has acquired over 2 acres in Verna, South Goa, with plans to invest approximately ₹85 crore in an ultra-luxury residential project, responding to the growing demand for low-density holiday homes beyond North Goa.
The Mumbai-based firm, backed by notable investors including Dabur’s Burman family, Nadir Godrej, and Anand Piramal’s family offices, aims to create a limited number of residences on the newly acquired land through its investment vehicles.
The planned investment includes costs for both land acquisition and development. “The timing to enter South Goa is ideal. North Goa has matured significantly over the past decade, and we see South Goa emerging as the next strategic market with strong long-term potential for both lifestyle and investment,” stated Nibhrant Shah, Managing Director and Co-CEO of Isprava Group.
The proposed development will feature two components: private villas and a cluster of bespoke homes. Isprava currently holds over 220 luxury homes in locations such as North Goa, Alibaug, Coonoor, and Kasauli.
“As we enter South Goa, we aim to create a limited number of thoughtfully curated homes that emphasize space, privacy, and craftsmanship over scale,” noted Dhimaan Shah, Executive Director & Co-CEO of Isprava Group.
South Goa has been witnessing steady growth in the luxury housing market, supported by improving connectivity and increasing demand from high-net-worth individuals seeking wellness-oriented living environments away from crowded tourist locations.
Developers are increasingly focusing on boutique, low-density projects rather than large gated communities, a trend expected to shape the future of Goa’s second-home market.
India’s luxury second-home market has rapidly expanded in recent years, driven by increasing wealth, remote work flexibility, and a shift towards lifestyle-driven investments.
High-net-worth individuals are now purchasing holiday homes in leisure destinations such as Goa, Alibaug, Lonavala, Coorg, and hill towns in Uttarakhand and Himachal Pradesh, viewing them as both personal retreats and income-generating assets through managed rentals.
