Real Estate Heat in Goa

By: George Gonigal

Number of real estate developers and realtors are investing into Goa real estate market owing to its yield generating capacity. As per Brix Research studies, apartment capital value in Goa ranges from Rs. 1,800 to 7,000 per sq. ft. Stamp duty and property taxes in Goa are lower as compared to other states, making the investment easier on the pocket and attractive.

Goa is becoming one of the most favourable destinations for the foreign buyers to invest and Goa real estate has a long way to go in the coming year as predicted by leading real estate developers.

Lot of activity can be seen in North Goa catering to the residential segment of the society. Dona Paula is the most posh locality in Goa and has the highest plot capital values of Rs. 32,000-35,000 per sq. yard and the apartment capital value of Rs. 5,500 - 7,500 per sq.ft.

Panjim capital city of Goa is the second classy locality with residential capital values of Rs 20,000-25,000 per sq. yard and the apartment capital value of Rs. 3,000 - 5,000 per sq.ft. New upcoming residential projects offers modern apartment to Portuguese villas which attracts most of the foreign investors.

The demand emanates not from the locals but the High Net Worth Individuals (HNI) from all over the country. Local brokers say that having a sea side villa in Goa has become a 'status symbol' with HNIs who live in plush homes in metros. To break away from their hectic schedules and to go far from the madding crowd, these people head for the land of beaches Goa.

Also, now that Goa is an international destination, a sea side villa in any part of Goa is like a prized possession. The market hottens up each year during the winter months and the demand outstrips the supply. But during summers, the property values in Goa of the same villas go down.

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