Evolution of Real Estate since Last 10 Years in South Goa
Arunima Nair
- 23rd Feb 2019
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Have you ever wished to have your own Beach house?
Ever dreamt of living away from the hustle bustle of your busy city?
Ever wanted a second home, that allows you luxury and comfort?
Do you know a city that is a fusion of Nature, culture and Fun.
A luxury home that is also affordable? Is that even a thing?
Yes it is! Let’s find out how.When you read a title that says ‘GOA stays’, you first think of a beach, people walking around the beach with the utmost freedom and liberty without having people feel offended. You imagine pine trees surrounding the beach, sand that slips through your hand, a bottle of chilled beer in your hand, a view that makes the noise of waves rushing and celebrating their happiness on their way to reach you.
Reading about goa imagining about it in such above mentioned ways, is possible because of your prior experience in goa or because of the stories you hear about the vacations that your friends spent in goa.
However, there are some majorly unspoken facts about goa that will make you feel like you have never known goa for real before. We will surely talk about those facts in this article, while we also inform you the best places you could invest within Goa.
A luxury home that is also affordable? Is that even a thing?
People believe that in goa - north goa is an anytime better investment in case of returns and on the basis of the requirements of realty market. You may not find articles that give accurate information regarding South goa and property rates. In Fact it is also very difficult to find out information online regarding the beautiful land and property that it offers. People tend to believe that if there is a place in goa good enough to invest in, it has to be within North goa.
However the hidden fact is that the southern part of the city, with a beautiful beach belt known as the South goa is where you can buy a holiday home or beach house for a very reasonable price. Today people from across the country have started to consider Goa as a probable retirement destination creating a big market for residential real estate like apartments and villas in Goa. And where do you think they find the best of these? It is not the North but the South of Goa. Even the pricing of properties is home buyer friendly in South Goa.
Land for Investment - ( Potential )
Common fact - Goa is a very small state which is about 3700 sq. km area. Out of which the trees and beaches comprise about 85%, 2% for road and rail connectivity and transport, another 2 or 3 % goes for the utility land or government buildings. Developed land comprises of 8-10% and then another 2-3% is what is left behind for further development.
Investment opportunities in South Goa
1. Margo area -
* Margo town
* The suburbs and vicinity specially Fartoda, Gogol Navalim etc
2. Vasco area -
* Vasco town
* Between Dabolim Airport and Sancole, especially that overlooking the Zuari River
3. South Goa beach belt -
* Between Utorda and Colva beaches
* Between Benaulim and Varca-Motor beaches
* Area near Palolem beach.
Not much known facts about South Goa
South Goa is where you can buy a beautiful vacation home or beach house for reasonable prices. Today people from all over India have started to consider Goa as a probable retirement destination or a second home by the beach, creating a big market for residential real estate like apartments and villas in South Goa, while pricing of properties in south goa are home buyer friendly . If you take North Goa’s popular beach destination like Candolim and compare it with its counterpart in the south like Majorda and others, there is almost a 40% price difference, the difference in prices. You can get to buy a property in Majorda for almost INR 3200 per sq. ft. which is nearly half of what you will pay for in North Goa. If you are looking for a property for end use, you can pick South Goa as the real estate prices for homes and villas are reasonable here.
Futuristic approach - Why to invest in South Goa ?
Tourism (MARKET STRATEGY) leading to Infrastructural changes and development
Geographical markets’ strategy
Very Short Term |
Short Term | Medium Term |
Keep addressing domestic market & current nationalities but with a different proactive marketing approach Higher-spending segments within the coastal tourism product with a better and more diversified offer, including culture and nature tourism Tap into the markets for short breaks and holidays with new direct flights from the Middle East. |
Develop the cultural tourism offer of Goa to attract these nationalities. This would be the main motivation to visit India - and Goa as an extension Though most tourists would still stay on the coast, culture and nature-based tourism would be a main travel motivation for some tourists and complementary products for others. |
Depending on identified new opportunities, further diversify markets such as Australia, through a multi-product destination, where cultural tourism would play a major differentiation role. |
Road Transport is an indicator of economic health and development of a State
★ It plays a key role, in promoting socio-economic development. A good road network helps in the success of all developmental activities being taken in the sphere of agriculture, trade and commerce, education, health and even in maintenance of law and order situation. Road Transport in the State has steadily expanded its scope of operation from its inherent suitability for handling freight and passengers to the growth of trade and development of the State’s economy.
Important Infrastructural developments.
1. Construction of Administration Building at Ponda is complete and was inaugurated on 01/12/ 2016.
2. Infrastructural development and Traffic Management Plan for Ponda City has been given to PWD with an approximate cost of Rs. 100 crore.
3. Foundation stone for Construction of Bus Stand at Marcel with modern facilities has been laid on 22.1.2014. Approx. 88% of the work is completed with approx. cost
of Rs.18.00 crore.
4. Land admeasuring 7764 sq. mtrs has been acquired through GSIDC for the construction of Bus Stand at Pernem and about 98% of the work is completed with approx. cost of Rs.22.00 crore.
5. Land admeasuring 20,800 sq. kms. has been acquired for the construction of Modern Bus Stand at approx.. cost of Rs.45.00 at Mapusa, The land development works for the same has been completed and is in the process of obtaining construction license.
6. Land admeasuring 10,200 sq. mts. has been acquired for the construction of Sakhali Bus Stand with approx. cost of Rs.25.00 crore. The work order for the same is issued to the contractor and the construction will commence soon.
7. Construction has begun for Mormugao Bus Stand with approx. cost of Rs.96.00 crore. Construction work of a “Drivers Training Track at Ponda” has commenced for which 79,000 m2 area/land has been acquired. During the year 2016-17, 6th State Road Safety Week was celebrated from 19th to 25 th September. 2016 wherein Road safety programmes were conducted in 3 High Schools, 7 Higher Secondary Schools and 2 colleges attended by around 3000 students and the general public. 8. Under Smart Card Driving Licenses and Dealer Level Registration of Vehicles project, 2,43,610 fresh Smart Card Driving Licenses were issued upto 31/03/2016. 24407 fresh Smart Card Licenses have been issued from April 2016 to February 2017.
9. To provide easy and efficient services to public, registration of new vehicles through authorized dealers has been commissioned.
10. 129734 vehicles were registered through authorized dealers up to 31st March 2016 and 30233 vehicles have been registered from April 2016 to February 2017.Other Reasons to invest in south goa are as follows.
1. Goa has several spots like beaches, temples and sanctuaries which are extraordinarily attractive to the local as well as foreign people.
2. A large number of tourists are attracted to have a glance of beautiful places of Goa and could be one of the biggest reasons for rental returns.
3. The tourists, by and large, stay in the accommodations that are available close to the beach or centers provided.
Are you still worried, if it is a good idea to invest in south Goa? Then all you need to do is, to give this beautiful city a visit and you'll know that there is no place like GOA.
Disclaimer: The views expressed above are for informational purposes only. We do not guarantee the accuracy and completeness of the information and shall not be held responsible for any action taken based on the published information.
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