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RERA to be implemented in Goa post election results

SOURCE :Economic Times

The Real Estate and Regulation Act (RERA), which was passed by the central government in March 2016, will be notified within six months after the election code of conduct gets lifted on March 11, chief town planner and joint secretary, TS Pattaraju said on Monday while speaking at the first foundation anniversary of the Goa Association of Realtors.

“The draft is ready and submitted to the government. Once the election code is lifted, the notification for RERA will be issued. The chief secretary is looking at the matter closely,” Pattaraju said, adding that personally he is not in favor of putting all the responsibilities on the builder, and that they should be shared by other stakeholders, including the buyer.

“The developer should not be held responsible for everything. There are four to five stakeholders, including the customers. All should share the responsibilites. A clarity on the defination of carpet area is also needed,” Pattaraju said.

GCCI president Narayan S Bandekar said that the real estate industry faced two major challenges in the form of RERA and demonetization which adversely affected the industry. He expressed hope that the industry recovers soon. “There was an abrupt fall in the housing sector following demonetization, but I feel these affects will go away in the long run.”

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WFH sees big city professionals realise the Goa dream — buy/rent property, move to the beach

AUTHOR : Manasi Phadke

SOURCE :Times Now News

Most people are buying or renting property near popular tourist destinations in Goa, like Anjuna and Vagator, giving a boost to the beach town’s Covid-hit real estate business.
when the entire country and most of the world went into a lockdown due to Covid-19. Migrants, who made up a bulk of the rental market in Goa, left in large numbers as some lost jobs and others started working from home. Commercial rentals too were hit with offices scaling down premises.

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Golf Links bungalow bought for Rs 170 crore in Delhi’s priciest real estate buy after lockdown

AUTHOR : Vandana Ramnani

SOURCE :Times Now News

Real estate experts say several big-ticket deals that exceed Rs 100 crore could be struck in the national capital over the next six months.
That is one pricey house to have but then the address doesn’t come cheap. The owner of a leading electronics contract manufacturer recently bought a house in New Delhi’s tony Lutyens bungalow zone for Rs 170 crore in what is believed to be the priciest residential transaction in the city after the lockdown.
Real estate experts say more such deals are in the offing over the next six months as the ultra-rich go shopping for spacious and green locations in the aftermath of the coronavirus pandemic.

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Goa’s Mopa airport to be commissioned by Aug 22: Governor Koshyari

SOURCE :Economic Times

The upcoming Mopa greenfield airport in Goa is expected to be commissioned by August 2022, Governor Bhagat Singh Koshyari said on Monday.

“I am happy to say that the construction work of Mopa Airport Project is in full swing and it is expected to be completed and commissioned in August 2022,” Koshyari said in his inaugural address to the state legislative assembly on the first day of the winter session.

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Home buyers must know these terms and concepts before buying a property

AUTHOR : Sanket Dhanorkar

SOURCE :Times Now News

Often when looking for houses or to purchase or take on rent, you might find being given the numbers of two or more types of areas. And that can be confusing. For instance, portals also list carpet areas and super built-up areas. Now which of the two do you factor in while calculating how much of the space is livable? Figures and terminology like the above can be confusing and sometimes even deceiving. Buying property is a massive financial decision, which is why homebuyers must understand and get familiar with the property jargon used by

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Why are land prices hitting the ceiling in Goa?

SOURCE :Economic Times

After being homebound during the pandemic, High Networth Individuals (HNIs) are rushing to buy second homes in Goa, driving up land prices according to real estate developers and property consultants. The lack of land with clear titles has also led to the rate hike by 20-30%.“The land which was available for Rs 20,000 per square metre is now going at more than Rs 25,000 per sq mt. While people from Mumbai always liked having a holiday home.

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Goa-ing Beyond

AUTHOR : Chanda Chaudhary

SOURCE :Times Now News

Wander into Goa’s historic and idyllic heart to discover two distinct flavours: heritage and authentic cool
‘YOU HAAAAAAVE TO be kidding me!’ was the universal response when I announced my decision to move to Goa two years ago. My well-wishing friends and concerned family could not understand why an urban creature like me would leave her successful design practice in Mumbai and even consider living in India’s smallest state, generally associated with sleepy beaches, aggressive parties, laid back shacks, prawn curry and quasi-retirement.

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Goa is now sand, surf and real estate

SOURCE :Economic Times

Christmas is not just a time for merry making in Goa – beyond the mistletoes and jujubes, considerable real estate deals are also signed. Many Goans, back home from different parts of India and abroad often mix festivities with investments and ‘property’ has always been prime commodity in Goa.

According to Amit Chopra, Director, Escala Realty India Pvr Ltd.the current market is seeing boom in inquiries in luxury, semi-luxury and the land segment. “People from Delhi, Mumba and even Hyderabad as well as expatriate Goans from the UK, Gulf are seeking to buy in Goa,” details Chopra.

The pandemic has infused a new enthusiasm in Goa and while sales have increased, ‘interest’ to buy property in Goa has increased manifold.

Blake Rebello, owner of Rebello Realty says that Goa as a property investment destination has expanded in size. “Earlier, only North Goa served as the ideal holiday and residential destination but that has extended to the South lately,” says Rebello adding that the Goa has also graduated from being just a tourism attraction to an investment destination.

COVID-19 payed its part in the Goa dream too. People across India felt the need to stay close as a family and in surroundings that were peaceful and healthy and Goa fits that bill to the T. Erwin Mendonca, Project Manager at Dreamwoods, an offering by Santa Fe Realty Pvr Ltd, says that when COVID numbers started stabilising a bit, interest gained in Goa. Mendonca is quick to add that much of the demand for properties in Goa could also probably pent-up since the market had considerably slowed down earlier.