Isprava acquires 2-acre land in South Goa for luxury residential development

MUMBAI: Luxury second-home developer Isprava has acquired an over 2-acre land parcel in South Goa’s Verna and is planning to invest around Rs 85 crore to develop an ultra-luxury residential project, as demand for low-density holiday homes expands beyond North Goa.

The Mumbai-based developer with early backings from the Dabur’s Burman, Nadir Godrej and Anand Piramal family offices, is planning to build a limited inventory of residences on the plot, with the land parcel acquired through its investment vehicles.

The company said the total planned investment includes the cost of land acquisition and development.


“The timing to enter South Goa could not be better. 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,” said Nibhrant Shah, managing director and co-CEO, Isprava Group.

The proposed development will comprise two components with private villas, and a cluster of bespoke homes. Isprava currently has more than 220 luxury homes across North Goa, Alibaug, Coonoor and Kasauli.

“As we enter South Goa, we are intentionally building a limited number of thoughtfully curated homes that prioritize space, privacy and craftsmanship over scale,” said Dhimaan Shah, Executive Director & Co-CEO, Isprava Group.

South Goa has been witnessing steady appreciation in the luxury housing segment, supported by improving connectivity and demand from high-net-worth individuals seeking wellness-oriented living environments away from crowded tourist hubs.

Developers are increasingly focusing on boutique, low-density projects instead of large gated communities, a trend expected to shape the next phase of Goa’s second-home market.

India’s luxury second-home market has expanded rapidly over the past few years, driven by rising wealth creation, remote working flexibility and a shift toward lifestyle-led investments.

High-net-worth individuals are increasingly buying holiday homes in leisure destinations such as Goa, Alibaug, Lonavala, Coorg and the hill towns of Uttarakhand and Himachal Pradesh, viewing them both as personal retreats and income-generating assets through managed rentals.