Central Park Chairman Amarjit Bakshi Reveals Plans to Expand into Goa with Hotels, Serviced Apartments and Farmhouses

Expansion Vision

Central Park is exploring opportunities in Goa where it is considering hotels, serviced apartments, and farmhouses, according to founder and Chairman Amarjit Bakshi in an exclusive interview with Robb Report India published in February 2026.

The announcement signals a strategic pivot from the developer's established residential focus in Gurgaon toward hospitality-led formats in the coastal state. Central Park is part of a Delhi-based conglomerate, Bakshi Group, which operates across real estate, hospitality, automotive, infrastructure and education sectors. The group's willingness to pursue these new asset classes reflects its existing expertise in mixed-use development.

Developer Track Record

Amarjit Bakshi, founder, chairman and managing director of Central Park, is an alumnus of IIT Delhi and a first-generation entrepreneur. In 2001, Mr. Bakshi started Central Park as a real estate company, and the brand is currently known for its ultra-luxury residential spaces with an established presence in the National Capital Region.

Central Park has developed a two-pronged strategy for the hospitality segment: launching upscale serviced apartments and luxury hotels in Gurgaon, with others planned across the country. Its established experience in integrating hospitality services into residential developments positions the group for similar diversification in Goa.

Goa's Evolving Real Estate Market

Goa is currently navigating a pivotal transformation in 2026, pivoting from a traditional seasonal vacation home market to a robust, year-round investment asset class, with investors identifying the state as a serious financial vehicle. This shift has created demand across multiple asset classes. Goa's real estate market is experiencing a significant boom, backed by growing demand for residential, commercial, and hospitality properties.

Goa's real estate market is influenced by the tourism industry on a massive scale, with the peak tourist season running from November through May, during which there is growing demand for staying spaces on short-term rentals. Villas are synonymous with Goa's real estate identity, appealing to both end-users and investors who want independence, space, and premium living, with limited supply of coastal land and strong tourist demand ensuring that villas continue to command high resale and rental values.

Central Park's Existing Goa Presence

Central Park now spans across Gurugram, Delhi and Goa. The developer's residential footprint in the state includes Central Park Villas Goa in Mapusa, North Goa, established as part of the group's earlier expansion into the region. The upcoming hospitality initiatives represent a natural extension of this presence into complementary formats.

Strategic Rationale

The diversification into hotels, serviced apartments, and farmhouses aligns with broader trends in Goa's real estate sector. Short-term rentals via platforms like Airbnb and boutique hospitality operators are generating income, making Goa property not just a lifestyle purchase but an income-generating asset. The developer's announcement suggests it recognizes this shift and intends to participate directly in these income-producing segments rather than limiting itself to residential sales alone.

The specific formats—hotels, serviced apartments, and farmhouses—each target distinct buyer and user profiles. Hotels serve the traditional tourism market; serviced apartments address the growing population of remote workers and digital nomads seeking extended stays; farmhouses appeal to high-net-worth individuals seeking private retreats with agricultural or leisure features.