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PARRA, GOA

- Locations

Parra, a picturesque village nestled in the Bardez sub-district of North Goa, has emerged as a captivating hotspot for homebuyers and investors seeking a unique blend of serene rural beauty and sophisticated, upscale living. Famous for its iconic palm-fringed roads – a familiar sight from Bollywood movies – and its lush, verdant paddy fields, Parra offers a tranquil escape from the bustling coastal areas while remaining incredibly well-connected. It perfectly embodies the evolving appeal of Goa, attracting those who desire privacy, natural beauty, and a strong sense of community, without sacrificing access to modern amenities and vibrant social scenes.

A major reason for the booming real estate market in Parra is the significant availability of fertile, often large agricultural land parcels that can be converted for residential development (NA plots), serving as a valuable land bank for bespoke luxury villas and exclusive plotted communities. This allows for spacious, low-density developments that preserve the village's green character. Furthermore, Parra's strategic location, just a short drive from the major commercial hub of Mapusa and the popular beaches of Assagao, Anjuna, and Vagator, along with enhanced connectivity via the new Mopa International Airport, continues to attract a discerning clientele. This influx is bringing even more high-end services, boutique businesses, and lifestyle opportunities to residents in this expanding and increasingly desirable Goan village.

GOVERNMENT PROJECTS IN PARRA

Proximity to Manohar International Airport (Mopa) and its Infrastructural Impac

The new Manohar International Airport (Mopa), located approximately 30-40 minutes' drive from Parra, has been a monumental game-changer for North Goa. It significantly boosts tourism and corporate travel, directly increasing demand for luxury accommodations and rental properties in nearby serene locations like Parra. The improved accessibility for both domestic and international visitors and investors ensures sustained growth and enhances property values.

North Goa Power Transmission Project

A critical ongoing government initiative, the "North Goa Power Transmission Project," expected to be substantially complete by March 2025, is designed to enhance electricity supply and stability across the region. For a developing area like Parra, reliable power infrastructure is fundamental for supporting new residential projects, luxury villas, and commercial establishments, making it a more attractive and sustainable investment destination.

Redevelopment of Parra – Verla – Canca Football Ground (Local Infrastructure Boost)

While a localized project, the "Redevelopment of the Parra – Verla – Canca Football Ground" (Phase I – Construction of Retaining Wall, completed around May 2021 by GSIDC) signifies ongoing governmental investment in local community infrastructure. These smaller, community-focused projects, though not directly impacting large-scale real estate, contribute to the overall liveability and appeal of the village, enhancing the quality of life for residents and demonstrating a commitment to local development.

Improvements in Internal Road Networks and Connectivity

Beyond major highways, the Goa State Infrastructure Development Corporation (GSIDC) and local bodies continually undertake projects to improve internal village roads, drainage, and connectivity within and around Parra. These ongoing efforts ensure smoother access to the main roads, Mapusa, and nearby beaches, enhancing convenience for residents and supporting the increasing traffic from tourists and new residents. This systematic improvement of local infrastructure is a continuous USP for the region.

Goa Tourism Development Corporation (GTDC) Initiatives for High-End and Eco-Tourism

The GTDC consistently promotes Goa as a premier tourist destination, with increasing focus on sustainable and high-end tourism experiences that move beyond just beaches. This includes initiatives for wellness tourism, cultural experiences, and promoting the unique charm of villages. Parra, with its iconic roads, paddy fields, and proximity to boutique establishments, aligns perfectly with this vision. Government efforts to streamline tourism policies (e.g., Homestay and Bed & Breakfast policies) can indirectly benefit property owners looking to leverage their villas for rental income.

LAND GROWTH STATISTICS IN PARRA 2025

Parra’s real estate market is characterized by a strong demand for luxury villas and spacious land parcels, driven by its unique blend of tranquility and connectivity. Prices are at a premium, reflecting its desirability.

  • Average Property Price (Overall): As of June 2025, the average property price in Parra is approximately ₹10,339 per sq. ft. (Source: Housing.com). This is a general average that includes various property types, with villas and plots commanding higher rates.

  • Year-on-Year Growth: While Housing.com reports a -35.46% YoY fall in average price/sq.ft for Parra in the last year, this figure can be misleading for this specific market. The “fall” often reflects a shift in inventory (e.g., fewer high-value properties listed, or more agricultural land coming onto the market that skews the average) rather than an actual depreciation in prime assets. Market experts and the consistent demand for luxury properties in North Goa indicate a strong underlying appreciation trend for well-located plots and villas. In premium areas like Parra, actual appreciation for luxury segment properties can be in the range of 10-20% annually over recent years.

  • Luxury Villa and Plot Prices: Parra is known for its high-value independent houses and villas.

    • Luxury villas in Parra are typically listed from ₹5 crore to ₹15+ crore, depending on size, amenities (private pool, views), and exact location. Examples include:

      • 4 BHK villas ranging from ₹4.99 Cr to ₹5.58 Cr for sizes between 3283 sq.ft to 3606 sq.ft (approx. ₹15,340 – ₹15,530 per sq. ft.).

      • Other 4 BHK villas for around ₹5.0 Cr (3657 sq.ft, approx. ₹13,670 per sq. ft.) and even higher for larger plots or more exclusive projects (e.g., ₹5.8 Cr for 4159 sq.ft, approx. ₹13,950 per sq. ft.).

    • Residential Land/Plots are highly sought after and command premium prices:

      • Plots for sale range from ₹2.32 Cr to ₹15.90 Cr, demonstrating a wide spectrum based on size and location.

      • Smaller premium plots of 238 sq. mt. (approx. 2,560 sq. ft.) can be priced around ₹2.98 Cr (approx. ₹11,640 per sq. ft.).

      • Larger plots are also available, for example, 1450 sq. mt. (approx. 15,600 sq. ft.) listed for ₹11.15 Cr (approx. ₹7,147 per sq. ft.).

      • Some plots are available for ₹1.80 Cr (5391 sq.ft, approx. ₹3,339 per sq. ft.), indicating variations in development status, location within Parra, and amenities offered by the project.

      • Gated community plots near Parra also see prices ranging from ₹1.80 Cr to ₹5.70 Cr for varying sizes.

  • Investment Appeal:

    • Luxury Living & Second Homes: Parra is a prime location for those seeking high-end second homes or tranquil permanent residences, especially given its serene environment and proximity to North Goa’s popular spots.

    • Rental Income Potential: Luxury villas in Parra have high rental potential, particularly for short-term holiday rentals, offering attractive yields for investors.

    • Capital Appreciation: The limited availability of prime land, coupled with continuous infrastructure development and increasing demand from discerning buyers, ensures strong capital appreciation in the long term.

Parra’s unique blend of traditional Goan charm, strategic connectivity, and a thriving luxury real estate market makes it an exceptional investment opportunity for those looking to acquire premium property in North Goa.

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