Goa Real Estate-dona Paula and Panjim Profiles

By: George Gonigal

Panjim and Dona Paula are the places that witness maximum volume of real estate transactions in Goa. As per studies, capital value for apartments at these locations has gone up in the last three months.

A brief profile

As far as real estate markets in Goa are concerned, Dona Paula and Panjim are the landmark places in Goa; Panjim being the capital also the prices are comparatively higher. Both belong to the district of North Goa, where real estate transactions are more as compared to the South Goa district, as South Goa is a quite place with peaceful nature and calm beaches. South Goa has its headquarters in Margao.

Market moves

The demand is mostly for 2BHK to 3BHK apartments and villas in Goa. According to real estate consultant Mr J Dsouza, 'Villas have always been very popular in Goa, though apartments are also catching up nowadays. But nothing can beat the feel and pride of having a sea front villa in Goa. Apartments are located in the city and also on the peripheries." There are many residential property projects coming up in Goa, villas and apartments (freehold basis) and the construction is all across Goa. A number of residential properties are coming up in the state in the vicinity of Panjim, Mapusa and Calangute beach.

Values

According to various research reports, Dona Paula's apartment capital values are up from Rs 5,500-7,500 per sq. ft in December 2007 to Rs 6,000-8,000 per sq. ft in Feb 2008, a rise of 10 per cent. The rental market is again hottest in these two areas owing to the connectivity and central location. The average monthly rent for a 2BHK apartment at Dona Paula is Rs 30,000-42,000 per month and Panjim is Rs 20,000 to Rs 28,000 per month.

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