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Hot real estate spots in Goa                                 Home        Post  your comments

Goa has become a booming real estate destination both for India (resident as well as non resident) as well as foreign citizens. The better than average infrastructure in terms of electricity, water, roads, communication, internet, educational institution, etc. makes Goa as one of the most desirable place to live in India. In fact, Goa was voted as one of the best places to stay in India by some of leading magazines in India.

 The real estate boom comprises of three distinctive categories, the first who is looking to invest in property as a second home, second from a pure investment perspective and the third is the one who wants to settle down in Goa and is looking for a home.

 In respect of the first category, if one is looking for second home the most sought after destination is the North Goa Beach Belt stretching from Fort Aguada right up to Vagator Beach which includes the villages of Sinquerim, Candolim, Calangute, Baga, Arpora and Vagator. The real estate options include basic studio apartments, cottages, villages, etc. These homes come with a rent back option which offers a steady return on their investment as well take care of maintenance cost. In South Goa, it is the Colva beach belt comprising of Colva, Betalbatim, Benaulim, etc. Already a number of businessmen, actors, actresses, models, sports stars, film personalities, etch have a second home in Goa. This is a preferred option for one looking for holiday home in Goa.

 In case of the second category, the preferred option would be purchase of a plot of land as there is a higher appreciation as well as no maintenance cost and depreciation costs associated with buildings. Currently the most sought destination is Dona Paula due to the breath taking view offered by the location as well as its proximity to the Rajiv Gandhi IT Habitat, the foundation stone of which was recently laid by Sonia Gandhi, the President of the Indian National Congress and Chairperson of UPA, the ruling alliance. The other sought after areas are Caranzalem and Bambolim which are close to Dona Paula. All these areas are in close proximity to Panaji, the capital of Goa (a 5 to 10 minute drive). The other preferred area for purchase of land is plots located at Kadamba Plateau on either side of the new bypass between Old Goa and Panaji. The advantage being the its close proximity to the city as well as the bypass being an important link between Panaji and other parts of Goa such as Ponda, Sanquelim, etc. Porvorim also offers a very good location for decent capital appreciation as National Highway 17 cuts through this locality. This area also now houses the State Legislative Assembly and Secretariat which is the house of power of the local Government. Recently areas in close proximity to Porvorim are seeing a lot of development in view of a software park being planned in the villages of  Succor, Pompurba and Salvador do Mundo by Infotech Corporation of Goa, as part of the thrust by Government of Goa to promote enterprises in the areas of information technology as well as information technology enabled services (ITES).

The third category, would prefer close proximity to the city the choose to live in on the account of the convenience factors associated with day to day living such as shopping, banking, etc. The areas for Panaji would be the city itself, St. Inez, Taleigao, Caranzalem, Dona Paula, Bambolim, St. Cruz, Merces, Ribandar, Kadamba Plateau, Chimbel, Porvorim, Verem, Betim, Socorro, Reis Magos, etc. The areas for Margao would be the city itself, Fatorda, Nuvem, Navelim, etc. The areas for Vasco would be city itself, Chicalim, Bogmalo, etc. The range would comprise of studio apartments, one, two and three bedroom hall kitchen flats, penthouses, bunglows, row houses, villages, etc. depending on ones individual preference as well as budget. Nowadays, housing projects come with all amenities such as swimming pools, club houses, landscaped gardens, fountains, etc.

 The appreciation has been very high in the recent past so as a word of caution it is advised that one participates in the real estate action after careful consideration of all factors.

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