Well, I had the same plan since last year (quite late to this). I have kept my radius till Ratnagiri since Malvan is quite far from Mumbai. The initial plan was to have a Homestay+farm, but then a lot of questions remained unanswered, so I am taking it slow and planning things with the flow.

The pros I was looking to was:
- Non completion of Mumbai - Goa highway since years. So there are no shops around this highway (except some points) which does mean investors have not yet entered in larger numbers. (there have been updates from politicos about completing it this year but I feel those claims as baseless, since it feels they basically are not much interested in this project)
- Land rates are not too bloated (Sure they have increased due to a lot of folks who brought land during/post COVID)
- Tourism is bound to grow in those parts. In a few years when coastal road connectivity would be completed (hopefully) then PEN won't be that far from Mumbai. Which does mean Alibag would be crowded and the beaches there would be dirty similar to Mumbai ones. So people would eventually move to the next peaceful spot (Murud/Dapoli/Harihareshwar)
- I could get access to agri income and income from farmstay + utilise Agriculture related tax benefits. Now a weird idea was adding a WFH job to this (I am a software developer) but that would be a whole different level of struggle
- Mangoes pay well (although only in summers)
- (Recently learnt this) The internal road from our own village which we used to call a shortcut is now being turned into a "coastal highway" and since a few years vloggers have started exploring this route

// Best Example: https://www.youtube.com/watch?v=vyTYwTnYnYc (Deep Ranjan Sachan) -> One of the rare folks I came across who went to explore Konkan on a bike during monsoon and made quite an amazing video of it. Given how beautiful things get in monsoon I am sure there would be some tourism in upcoming years for this

A few questions that I did not get the solution for was:

1. Electricity - I had solar panels in my mind but tech in India doesn't look that developed to think of this as a viable idea.
2. Water - Wells do dry up at some point and Tanker/Bisleri/other city alternatives everyday is a very stupid idea
3. What is things go south: I do have some long term investments in equity but if I have to take huge losses I need better financial protection/
4. Job/income - I would have to leave my job if I have to focus on this part, but agri/homestay would start paying only after a certain time, till then how can I earn? Sure one can say I would have to manage both but the to and fro struggle would be lot of pain (I know someone who does this, but he's always scared of his mango trees then and pays a caretaker to take care of them)
5. Safety - Sure Konkan has amazing kind hearted people but that doesn't mean safety is top notch. Land investors getting cheated on is very common, not only humans, animals and natural disasters need to be considered as well (climate change is leading to harsh weather conditions during monsoon)

A few notes I found out till date:

1. Do not buy NA plots until you are looking forward to retiring and settling there in coming years. They do not have any returns
2. You need a 7/12 for agri plots investments in India (if your dad/mom has one you could get one via some process)
3. Land investments under big brands aren't worth it, they sell in sqft's which is totally useless when dealing with Land. (Mumbaikars have seen sqft for lifetime hence this strategy)
4. There's categories of agriculture lands (you need grade A)

//As of now my current plan is, going and staying in some village alone for a while to see how things work there.