Mumbai‘s wealthy and elite are flocking to picturesque locations just a few hours’ drive away to buy luxury second homes, seeking privacy and exclusivity in tranquil surroundings.
Several industrialists, corporate honchos, Bollywood celebrities, and sports stars have been snapping up properties in places like Alibaug, Goa, Lonavala, Khandala, Panchgani, Karjat, and Pawna Lake. On the shopping list are either readymade or under-construction villas, or land parcels to design and build their dream homes.
Government initiatives aimed at improving connectivity are also catalysing real estate development in the area, elevating its appeal among developers, homebuyers, and investors.
“As social media becomes increasingly pervasive, and paparazzi are ever-present, prominent figures are encountering greater difficulty in safeguarding their personal lives from public scrutiny. Consequently, these wealthy individuals view second homes as havens of privacy, shielding them from intrusive gazes,” said Ritesh Mehta, senior director at real estate consultancy JLL India. “While social platforms have transformed communication and interconnectedness, it has concurrently heightened the demand for secluded sanctuaries to retreat from the relentless digital clamour.”
Bollywood actor Shahrukh Khan’s daughter Suhana Khan’s decision to buy two land parcels in beach town Alibaug, near Mumbai, might have caught some off guard, but it was hardly a surprise to the affluent circles in India’s bustling financial capital. Actors Ranveer Singh and Deepika Padukone also recently joined the ranks of investors in this region, alongside other prominent figures such as Sachin Tendulkar, Rohit Sharma, Virat Kohli and Anushka Sharma.
Alibaug, with its scenic beauty and proximity to Mumbai, has emerged as the latest hotbed for luxury second-home developments. Lonavala and Panchgani’s scenic charm and pleasant climate have long enticed affluent Mumbai residents, while Goa’s vibrant culture and stunning beaches continue to attract those in search of a luxurious getaway.
However, the attractiveness of these destinations for second homes is not solely driven by natural beauty; infrastructure development plays a pivotal role in shaping the attractiveness of these markets. The government’s focus on improving connectivity through road, rail, and air networks has enhanced accessibility to these regions.
“The government’s infrastructure push in Alibaug, Goa, and the western coastal region has been a key catalyst to boost the luxury second homes market. Enhanced connectivity through expanded roads and upgraded transportation facilities including an airport has improved accessibility to these scenic areas. This has attracted affluent investors seeking both luxury and convenience. Consequently, property values are also on the rise, contributing to the economic growth of the region,” said Samujjwal Ghosh, CEO, The House of Abhinandan Lodha (HoABL).
In just over two years, HoABL has sold projects spread over 360 acres across Goa, Alibaug, Dapoli, and Anjarle in Konkan region, totalling sales of over 3,500 villa plots.
“In both Goa and Alibaug, we are seeing the upper end of the market with a single luxury villa on anywhere between one and five acres. Coming from a space-starved bustling city like Mumbai, these high-profile clients want privacy, exclusivity, security and want to be around nature. The infrastructure has been a big game changer for these so far relatively untouched exotic locations,” Dhimaan Shah, co-CEO, Isprava Group.
The luxury property developer specialising in non-urban locations has projects spread over a total 80 acres across Goa and Alibaug. It has already sold over 85% of nearly 400 luxury villas to industrialists, cricketers, leading legal and medical professionals.
“Choosing Alibaug for my new home was an easy decision. With the incredible infrastructure around the Atal Setu and upcoming Karanja-Rewas bridge, it’s now more accessible than ever. But what truly captivated me is the lush greenery and clean air, a refreshing escape from city pollution. Alibaug offers not just a residence but a sanctuary for me and my family,” said Vasudha Warriar, a UHNI that has bought an Isprava property in Alibaug.
According to Mehta, opulent vacation residences in Alibaug, Karjat, Goa, and neighbouring regions are garnering strong traction from affluent residents of Mumbai. Those with a net worth surpassing ₹500 crore are notably gravitating towards these properties priced over ₹20 crore.
The upcoming Mumbai-Goa highway, new Mopa airport, and proposed coastal road projects promise to further streamline travel, reducing commute times and increasing convenience for second homeowners. Moreover, infrastructure investments in amenities such as healthcare facilities, shopping complexes, and recreational options have added to the allure of these destinations, transforming them into self-sustaining luxury enclaves. Real estate developers, recognising the immense potential of catering to Mumbai’s affluent clientele, have been actively investing in these second home markets.
From boutique villas to expansive estates, developers are offering a wide range of high-end properties designed to cater to the discerning tastes of their elite clientele. These developments often boast state-of-the-art amenities such as private pools, landscaped gardens, and concierge services, ensuring an unparalleled lifestyle experience for the privileged few.
