Goa, the most preferred tourist hotspot amongst Indians and people oversees, is now looked upon as the realty destination.
The city is seeing surge in property market and growth in values during past couple of years. According to John Welsely, Property Consultant at Smart Properties, “Goa is attracting investments from people all over the world. And it is mostly the eminent class who are tempted to buy property in the picturesque locals of Goa”. The number of transactions has noted an increase of up to 30% in past one year and is still appreciating, he added.
According to another city based realtor Praveen Soni from Realty Partners, “the residential property in Goa not only has good resale potential, they acquire high rentals as well. A well located, sea-facing apartment in Goa can get the owner as much as Rs.1-1.5 lakh a month.”
There are many residential projects coming up in Goa, villas and apartments available on freehold basis and the construction is all across the city even on the peripheral areas. Capital values of apartments across the city has witnessed and average escalation of 15-20% during past 6-8 months whereas the rental values of apartments have noted an increase up to 50% during the same period says, Jitesh Dhawan from Dhawan Associates. He attributed this growth to expanding commercial sector in the city apart from tourism industry.
Many real estate developers such as Nirvana Nest, DLF, Parsvnath, Devashri Developers, Felicity, Acron, Bharat Heights, Riveria Constructions and many more are coming up with their new luxurious residential projects. Most of these projects are being constructed at prime locations of Goa such as Calungute, Dona Paula, Colva, Vagator, Vasco, Anjuna etc. These new projects are eliciting large number of queries and are becoming very popular among the NRI’s, end users and investors.
A new 2 BHK apartment in Goa in the affordable category is available starting from Rs 22 lakh while a premium apartment with all the luxurious features can be taken at Rs 1.5-2 crore. Most of these apartments are already sold out and are available with premium says Soni.
Areas near popular beaches of the city such as Anjuna, Candolim, and Calangate are now growing rapidly in residential activity. Goa is expected to spark off on the global investment and tourism markets. With new projects launches every other day and with investment pouring in from localites, HNIs, NRIs at developers it is surely ‘Go Goa’ for everyone.
Source - The Times of India, June, 2012
Last changed: Jun 05 2012 at 6:24 AM