NEW DELHI: The Goa Rehabilitation Board and Goa Housing Board have urged NAREDCO Maharashtra to explore investment opportunities for the development of residential, commercial, mixed–used, redevelopment and business parks in the state.
“Goa is not just a tourism destination now, but a fast-growing State for scaling businesses including the real estate offering an exponential potential to the developers who are looking for setting up of new residential and commercial projects along the coastline or in the states’ hinterland and also for the global investors who are willing to invest in second or leisure homes, luxury villas, rental homes or hospitality ventures”, said Aleixo Da Costa, secretary, Goa Rehabilitation Board.
Da Costa further said that the public sector is looking at redevelopment of its used land parcels combined with monetization of its unused land parcels through the public–private partnerships.
Prashant Sharma, president, NAREDCO Maharashtra said, “Goa is not just an international tourism destination now, but it is transforming into a real estate development hub attracting global investors moving its property markets northwards.”
Places like Vasco, Sada Vasco, Baina, Zuari Nagar, Colvale have major unused land parcels making the scope for huge investments.
“We are planning to take all these land parcels together, release the unused land in Sada Vasco for rehabilitation purposes first and then monetize the rest of the land parcels in a PPP model where private developers can participate. The tenders will be issued very soon for monetization of the land,” Da Costa informed.
The land parcels mentioned are: Sada Vasco (Unused: 14,000 sq meters), Baina (4600 sq meters), Adarsh Nagar Chicalim (Vacant Land: 23,533 sq meters), Colvale (1000 sq meters) and Zuari Nagar (1800 sq meters).
Hari Babu, president, NAREDCO said, “Goa has been witnessing real estate investments by affluent Indian and overseas buyers in recent times owing to their inclination for acquiring income-generating commercial assets or second homes alongside their primary city homes.”
Sadashiv Gaonkar, housing engineer, Goa Housing Board said, “Property prices in Goa are climbing at 15% to 30% each year, making it a high growing market. On an average, the properties in North Goa have appreciated by ~83% over the last 5 years, with Candolim (168.5%), Siolim (149.2%) and Calangute (83%) experiencing significant price appreciation.”
Rajan Bandelkar, vice chairman, NAREDCO said, “With the Central Government’s impetus on infrastructure growth, even smaller states are transforming significantly with better connectivity and accessibility. Goa is the perfect example of how a state can bolster other businesses including real estate by keeping tourism at the centre.”
Source Homevior.in
