Home » News » Real Estate

Presents

Co-Sponsored by

In Association With

Sep 20, 2013, 05.56 PM IST | Source: Property.sulekha.com

Buying home, a profitable venture in Goa

Sulekha.com explains how buying a house is a profitable venture in Goa.

Sulekha.com

Traditionally an ideal place for holidaymakers and honeymooners, Goa has come a long way in terms of real estate development. With increasing purchase power and number of high net worth individuals (HNWIs) Goa has certainly become a destination for those willing to have a villa or independent bungalows at strategic locations in Panaji and other cities. 

The reason for the realty rush is simple. The property prices are less compared to some of the Central Business District areas of Mumbai and Delhi NCR and HNWIs are making no mistake in investing in one of the fastest growing real estate markets.

A large number of investors from Goa and adjoining states are blocking their money in real estate, as they are sure of getting high yields.

Also, availability of large land parcels and unexplored locations are encouraging small and large real estate brands to launch residential and commercial projects offering wide variety of dwellings such as villas, single floor apartments, duplex and semi-duplex apartments, large and medium bungalows, beach facing and river-view apartment and bungalows featuring high-tech facilities.

Developers, both from local and national repute are vying to cash in on every profitable venture in Goa.

Leading builders from Goa including Kurade Builder, Akar, Commonwealth Developer Pvt Ltd, Crossroads Realtors, Umiya, Civil Engineers and Associates, Cityscape Developers, Prabhudesai Realtors Builder and Developers, Pradip G Naik Real Estate Developers, Prudential Developers and Sandeep Pol have launched at various locations in Goa and adjoining areas.

Leading builders from the state including Crossroads Realtors, Akar, Commonwealth Developer, Kurade Builder, Umiya, , Cityscape Developers, Civil Engineers and Associates, Prabhudesai Realtors Builder and Developers, Prudential Developers and Pradip G Naik have launched at various locations in the state and nearby areas.

Property investors from Mumbai were the first to explore the land of Goa in the 90s and bought properties ranging between Rs 12-15 lakh and gave it on rent for tourists. However, prospective buyers can be seen coming from further afield.

Majority of real estate investments come from Delhi and Mumbai as people from these states, who once used Goa as holiday destination, are now buying their own cottage, villa or luxury house in the enchanting Goa. Some even give these properties on rent to tourists to avoid being locked all through the year thereby generating a good income.

The ongoing trend is giving a big boost to luxury realty development as builders are concentrating on premium residential segments catering to the requirement of holiday enthusiasts. As per the current market condition, the price of a 100 sq m apartment in Candolim would cost around Rs 25 lakh and Rs 1.5 crore for a Portuguese villa or a bungalow.

From Dona Paula, an up market suburb of Panaji, till Palolem coast in the south and Morjem in the north, are all seeing frantic developmental activities.

Non Resident Indians are also seeing Goa as the best place to spend their retired life. They generally prefer sea-facing accommodation, which can either be an independent bungalow or semi-independent duplex apartments with lot of lung space.

Property prices are different as per the facilities available and distance from the beach. A 650 sq mt. plot with 300 sq. mt. bungalow in Calangute will cost around Rs 75 lakh when compared to a house with two cottages, a garden and a swimming pool in Anjum which cost around Rs 3.25 crore.

Other locations in Goa such as Ribandar, Taleigao, Santa Cruz and Old Goa are witnessing flurry of property development due to their proximity to capital Panaji.

Goa is undergoing a paradigm shift with companies buying large commercial spaces to develop attractive malls. Also, a number of international retailers are vying to launch their exclusive showrooms in Goa soon. This is likely to add to the land value with average prices now going from Rs 2500 to Rs 3000 per sq ft.

ADS BY GOOGLE

Videos

more »

Property rates
  • Residential
  • commercial
Mumbai
Capital Values Rate/Sq ft (INR)
Aajiwali
3000 - 5000
Ambernath
3000 - 5000
Badlapur
1000 - 3000
Bhandup (West)
11000 - 13000
Chembur (East)
15000 - 17000
Chembur (West)
11000 - 14000
Dombivali (East)
4000 - 6000
Ghatkopar
13000 - 15000
Heeranandani Gardens Estate - Powai
25000 - 30000
Hiranandani Gardens Estate - Powai
25000 - 30000
Kalyan (East)
2000 - 4000
Kalyan( West)
3000 - 5000
Karjat
1000 - 3000
Khandala
8000 - 10000
Kharegaon
5000 - 7000
King Circle
17000 - 28000
LBS Marg
12000 - 15000
Lonavala
3000 - 5000
Mulund (East)
11000 - 14000
Mulund (West)
11000 - 14000
Mumbai Nasik Highway
3000 - 6000
Powai
15000 - 17000
Senapati Bhagath Singh Road
3000 - 5000
Sion (East)
18000 - 21000
Sion (West)
17000 - 22000
Tilak Nagar
12000 - 22000
Ulhasnagar
3000 - 5000
Vikhroli
11000 - 14000
4 Bunglows
17000 - 28000
7 Bunglows
13000 - 23000
Chandivali
10000 - 15000
Malad (East)
12000 - 14000
Versova
21000 - 24000
Airoli
4000 - 8000
Belapur
6000 - 9000
Ghansoli
6000 - 8000
Kalamboli
4000 - 9000
Kamothe
4000 - 6000
Nerul
7000 - 10000
Palm Beach Road
12000 - 15000
Panvel
3000 - 6000
Sanpada
8000 - 10000
Sea Woods
8000 - 10000
Ulwe
3000 - 6000
Uran
3000 - 6000
Vashi
9000 - 12000
Altamount Road
62000 - 72000
Breach Candy
62000 - 74000
Chowpathy
48000 - 58000
Colaba
42000 - 46000
Cuffe Parade
67000 - 69000
Dadar(East)
32000 - 34000
Dadar(West)
29000 - 32000
Lower Parel
32000 - 34000
Mahalaxmi
38000 - 40000
Malabar Hills
68000 - 75000
Mumbai Central
23000 - 34000
Napean Sea Road
66000 - 74000
Parel
26000 - 34000
Prabhadevi
37000 - 39000
Tardeo
41000 - 49000
Worli
36000 - 41000
Andheri (West)
18000 - 20000
Andheri(East)
15000 - 17000
Bevarly Park
5000 - 7000
Bhayander (East)
5000 - 6000
Bhayander (West)
3000 - 5000
Boisar
1000 - 3000
Borivali (East)
11000 - 13000
Borivali (West)
10000 - 14000
Dahisar
4000 - 8000
Goregaon (East)
13000 - 17000
Goregaon (West)
12000 - 14000
Kandivali (East)
12000 - 14000
Kandiwali (West)
11000 - 12000
Malad(West)
9000 - 14000
Mira Road
5000 - 7000
Naigaon
1000 - 4000
Nala Sopara (Eastt)
3000 - 5000
Nalasopara (West)
3000 - 5000
Poonam Nagar
6000 - 8000
Shanti Nagar
7000 - 9000
Shrishti
6000 - 9000
Vasai Road
1200 - 4000
Virar
1000 - 3000
Note: Price trend are based on asking rate and not necessarily on the transaction date
Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.