“El Dorado” of the east “Goa”, is not just a dream holiday destination. It has the highest per capita income in India, and employs huge numbers in the tourism sector, medical tourism, and pharmaceutical industries. Goa is a small state with only around 3700 sq Kms of land, there are the beautiful sayadhari ranges having reserves/sanctuaries, then there are rivers, khazans, mangroves ,marshes, paddy fields, beautiful verdant spice plantations, the cashew orchards altogether in figures most of Goa is green areas approximately 80%. And out of the remaining about 5-7% is the beaches, barren fields, rocky ,No Development slopes or CRZ areas, etc, the road/rail network etc cover another 2%. Then there is Land for Public Utility or Govt buildings another 2-3% only about 8-10% is developable land i.e. Settlement Zone Land and of this land about 5-6% is already developed, approximately 2-3% is available for development or redevelopment, then we have to take in the factors of titles not being clear or the owners not being willing to sell or develop the Land so hardly 1% is actually available making clear title land or developed property in Goa a very scarce commodity which is in Great demand.
IF WHERE TO INVEST :
The city of Panjim offers one of the charm and beauty of the old world, with the modern comforts of a vibrant city. If one loves the party scene then Candolim-Calangute – Baga- Vagator offer the best opportunities, the pristine beaches of the extreme North and South Goa offer one serenity and beauty. Kadamba Plateau and the suburbs of Panjim & Margao offer one a chance of living near a city and its amenities in a secure gated complex.
WHAT TO BUY :
If one is looking for land there are many realtors in Goa and for developed properties there are many builders and projects. Among these the more known and reputed are developers like Gera, Models, Kamat’s, Heritage, Milrock, Landscape, Nanu’s, Acron Highland and Rivera. Also there are projects like Aldei de Goa, Terra Nova etc… Land parcels are also available in in all kinds of sizes and locations and there are even a few developers offering developed plots and independent bungalows on individual plots, but mostly one finds independent villas or row villa or apartments, mixed developments are also available. Gated complex’s seems to be the flavor of the day with amenities like swimming pools, gardens, play areas and parking being offered in the mid-budget developments and even some offering lifts and top end fittings as standard specifications. One can see a lot of these in the Kadamba Plateau, the suburbs of Panjim & around Margao. Then there are those targeted towards the holiday crowd in the vicinity of beaches offering mostly studio’s or one BHK’s with a few 2/3 BHK’s or row villas and lastly there are the high end developments with bungalows/villa’s/ apartments either in the posh areas of Panjim or with a view – mostly the scenic ‘river views’ of the Mandovi or Zuari or in few ‘sea view’. Another popular kind offers either a ‘field view’ or ‘valley view’, these kinds of developments command a premium and mostly have constructions to the best specifications, offer amazing amenities and are considered value for money, many of these developments also offer inducements like high-end cars or yachts on sharing basis or even ownership basis to the buyers in addition to all the standard amenities like club houses, spa, gym, covered parking, 24×7 security, etc.
WHO CAN INVEST AND HOW:
Currently there is no restriction on any Indian from purchasing property in Goa, PIO’s or OCI card holders can invest freely in non-agriculture properties, even foreigners with long term visas are allowed to purchase non-agricultural property as long as the money is brought in legitimately after following the RBI’s FEMA regulations. One should list properties that suit one’s budget or requirements, personally visit the sites, and then negotiate foe a better deal. It can work out better to engage a knowledgeable realtor to guide one through the process and get the title checked from a reputed lawyer, also get the sale deed/agreement to sell drafted or verted by them to safeguard one’s interest and investment
A LAST WORD:
The thing to remember is that even in the slump or recession the land prices Goa did not go down, underling what have been saying that Goa is the best place to invest in India and as India is considered one of the best places to invest in currently in the world we can rightly say that Goa is the best place to invest in the world. It ids always prudent to buy when the market ids down or slow and the current financial scenario offers one a great window of opportunity for long term investment, so go for it or regret in leisure on missing the investment opportunity in Goa. Property traditionally has been one of the best ways of investment beating even the gold or the share market in the long term, therefore educated investment in properties is a very sensible decision, there are many opportunities available for investment in Goa, broadly the main areas are:
– The posh areas of Miramar, Dona Paula, Altinho.
– The suburbs of Caranzalem, Talegaon, Bambolim.
– The North Goa Beach Belt – Candolim, Calangute, Baga
– The vicinity of Anjuna, Vagator and Arpora, Siolim.
– The upcoming areas in the vicinity of the beache of Morjim, Arambol.
– Kadamba Plateau i.e.; Ribandar, Baigunim, specially the area overlooking the mandovi River.
– The new focus areas – Ela or Old Goa and its surroundings.
– Divar & Charao Islands
– Aldona, Moira and Surroundings.
– The suburbs and vicinity of Margao city.
– The area between Dabolim Airport and sancole, specially that overlooking the Zuari River.
The South Goa beach belt –
a. Between uttorda to colva beaches.
b. Between Benaulim to varca beaches.
c. Area near palolem Beach