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Bengaluru-based Sattva Group will invest INR 800 crore in Goa over the next two years, expanding its footprint following the success of its first project, Sattva Water's Edge. The move taps into growing demand for first and second homes, driven by Goa's improved connectivity and infrastructure. According to PropEquity, Goa's housing sales rose 5% to 3,585 units in 2024, with sales value jumping 32% to INR 5,726 crore. Sattva has completed 74 million sq ft across India and is planning entry into Mumbai. The Group is active in coworking, coliving, warehousing, and hospitality, and has filed a INR 6,200 crore REIT IPO with Blackstone-backed Knowledge Realty Trust.
Bengaluru based Sattva Group has announced plans to invest INR 800 crore over the next two years in Goa. The company entered the Goan property market a couple of years with with its maiden project 'Sattva Water's Edge'. Advertisement
Sattva Group is expanding its presence in the Goa property market to tap rising demand because of its improved infrastructure and better connectivity with other cities of India. Bullish on the potential of the Goa market, Sattva Group Managing Director Bijay Agarwal, believes that there is a huge demand for first as well as second homes in this popular tourist destination.
According to PropEquity data, housing sales in Goa rose 5 per cent to 3,585 units in 2024 as compared to 3,430 units in the same period last year. Sales in value terms rose 32 per cent annually to INR 5,726 crore in 2024 calendar year.
In the last three decades of its operation, Sattva Group has completed 74 million sq ft area across various residential and commercial projects. More than 75 million sq ft area is under various stages of planning and development. Besides South India, Sattva Group has a presence in Pune and Kolkata markets and it is planning to enter Mumbai.
The Group also has presence in other verticals of real estate including coworking, coliving, data centres and warehousing. Sattva Group is also into hospitality and education. In early March, Sattva Group and Blackstone sponsored Knowledge Realty Trust (KRT) filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch an Initial Public Offering (IPO) for raising INR 6,200 crore and list the REIT on stock exchanges. Through this REIT public issue, Sattva Group and Blackstone want to monetise 30 prime office assets across major cities.
Source: PTI
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