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- Invest in Goa
The present real estate market scenario in Goa quite promising and property developers are investing out large amounts, as they are confident to get high yields in long run.
From modern apartments to quaint Portuguese villas, Goa has every reason to be a sound place for investment. Stamp duty and property taxes in Goa are lower than in other states, making the investment easier on the pocket. Expenses on a 3-bedroom villa, for example, would add up to Rs. 30,000 annually, covering round-the-clock manned security, maintenance expenses, salaries of gardener, pool attendant and other estate staff, insurance of the structures and common areas, and property tax / rates.
If you own apartment in Goa, you can earn by renting, Goa homes offer rentals upto Rs.1 lakh a month. Goa is an excellent return on investment which few other properties can match.
Rates for residential property in Goa range from Rs.2, 400 to Rs.3, 000 in Panaji to Rs.900 to Rs.1700 in Ponda, the industrial hub.
As for commercial spaces, Panaji is again most sought after by corporates, commanding rates between Rs. 3000 to Rs. 4250. Ponda is the home of industry in Goa, so commercial rates are higher than residential properties between Rs. 2000 – 3000.
Goa is undergoing a paradigm shift with companies buying large commercial spaces to develop glitzy shopping malls. Also, a number of retailers enjoying great name and fame are considering coming up with their exclusive showrooms. This is likely to add to the land value with average prices of Rs 2,500 to Rs 3,000 per sq ft. Market analysts see the rates for Goa commercial property to shoot up further in next ten years.
For more details you can refer: http://www.indianrealtynews.com/real-estate-india/why-should-i-invest-in-goa.htmlCommentQuote0Flag
- Goa - Good Future Prospects
Property in India, in particular Goa, is set to be one of the latest world property hot-spots. Goa’s tourism industry has exploded in recent years with over 2.5 million people now visiting a year. This tourism boom, combined with a wonderful climate, excellent infrastructure and a strong rental market is helping the property market in Goa become recognised by international property developers. Many believe that property bought now will make a return well into the double figures over the next 5 years, with some even believing they will double their money.
Indian property is generally fairly low priced - you can snap up a beachfront property for as little as $10,000. With prices this low and a healthy rental market, it is no wonder that Goa has caught the eye of so many investors.
However, there are certain things that must be considered before you take the leap. Consider buying a property with a five-year leaseback - this is a scheme where the property is leased back to the developer ot management company and they handle the rental of the property instead. It is also worth investigating whether you can setup an Indian Limited Company to hold your property as this may prove more beneficial financially than holding the property in your own name.
Goa is the hottest area in India to buy right now with many new developments springing up. As with any property, it is worth investing either along the beachfront or in the tourist areas as these will have the best rental market around meaning your property will hopefully be rented out all-year.
Be prepared to spend from $10,00 upwards on your property for a one bedroom apartment in a gated complex.CommentQuote0Flag
- Goa real estate - game for correction
If you're looking to investing in property or to purchase land, then now is probably the right time... Land prices, after sky rocketing for the past couple of months, looks to be assuming some sort of stability.
Land rates have not fallen but nobody expects that to happen, at least for the next ten years to come. Earlier speaking to GP, Darryl Pereira, CEO, Reira Group had said, "If you are investing in property, then it’s never right to wait. Land prices will always rise."
Goa has seen an average 8% to 10% growth in land values since 1995. And whist the state, along with the rest of the country, faced a lull period with prices falling from 2000 to 2003; we witnessed a sudden boom in 2004 with prices rising an average 30%. Land value in Panaji has doubled in the last one year while other places across the state have seen a steady 20% increase.
While most builders call this sudden hike in prices as land boom and expect prices to further rise at an increasing rate for another ten years to come; market analysts have a word of caution. The sudden boom was just a correction after the lean period they say, sure prices will increase in Goa but by an average 8% only.
Presently, Panaji is the most expensive place to acquire land. The average cost of a plot in Panaji rose from Rs.25, 000 per sq.m to Rs.35, 000 per sq.m, with prices touching Rs.50, 000 per sq.m in crème locales like Dona Paula and other water fronts. Calangute and the northern coastal belt comes a close second, with the average start up price for a property being Rs.25, 000 sq.m, costs however increase with proximity to the sea.
But head to South Goa and you’ll sure get a better bargain. The place with its scenic beaches and picturesque locales is at least 30% lower than northern coast with start up rate for a place near Colva beach ranging between Rs. 15, 000 to Rs. 18, 000 per sq.m. Market estimates points that nearly 75% of Goa's real estate sales are from people from outside state, mainly north Indians from Delhi, UP and Bihar, who are starved of coastline. Besides, Goa’s cosmopolitan set up coupled with the state being rated as having the 'highest standard of living' makes it a lucrative option as a holiday home or even a retirement option.
Besides state's plans to develop SEZs, IT parks and have broadband connectivity will sure add value to any investment.CommentQuote0Flag
- Does anyone know the rules regarding NRI´s and licencing for opening Real Estae Offices in South Goa?CommentQuote0Flag
- Property prices in Goa has constantly risen and sometimes often dramatically. Flats in Goa, at the right locations, have a tendency to constantly increase as there are many people who want to make Goa either a vacation spot or a retirement place. The laid back lifestyle is the main reason for this.CommentQuote0Flag