The real estate Goa sector has advantages for the investor and the economy too

Posted by Riyaz Somani on July 22nd, 2016

Introduction:

The development of any state depends on its real estate development. Goa is a new state as far as the Indian Union is concerned. In fact, the Portuguese ruled Goa until as recently as 1961. Hence, you would find a tremendous Portuguese influence in every kind of architecture in Goa. The influence is so much that you would find some kind of Portuguese title ownership in practically ever property. Moreover, Goa used to follow the complicated Portuguese laws making it difficult for real estate developers from outside the state to come in and start construction activities. Now, after the statehood status, things have improved and this has resulted in the development of real estate Goa largely.

The shift in influence:

The shift in the influence could not have come at a better time. Goa has the largest number of tourist visits to India with every foreign visitor making it a point to visit the beaches of Goa. The Government of Goa has ambitious plans to increase this tourist flow manifold. As part of the infrastructure building exercise, the development of real estate is a necessity.

The Reserve Bank of India has also made things simpler by allowing the NRIs to invest freely in real estate. This results in a higher inflow of money into the sector making things easier for development. Many real estate developers have now moved to Goa and started constructing flats in Candolim as well as other places such as Mapusa, and Siolim.

The advantages for the investor:

Land is comparatively cheap in Goa in comparison with big cities such as Delhi, Mumbai, and Chennai. This entails that the investment in a property for sale in Goa would not cost much. This enables many people to buy property in Goa as a second investment. Many people have done that in recent times.

People buy apartments to let out to tourists and earn a decent income from it too. There is always a great demand for quality accommodation for the tourists. These flats and apartments have come as a breath of fresh air to them. The tourists have more options now and hence do not mind paying extra as well. In this way, the opportunity to earn returns on the investment makes it an attractive proposition.

The luxury homes come with many latest amenities such as swimming pools, gymnasiums, golf courses, and garden terraces. It would be difficult to find such high-quality amenities at such an affordable price in the big cities mentioned above.

The advantages for the economy:

Goa is the state with the highest per capita income in India today. This makes people have more disposable income in their hands for investing in real estate Goa projects. The cheaper rates also allow people from other parts of India to park their funds in Goa.

When you add the tourism angle to this, you are looking at Goa as a prime destination for investment.

Conclusion:

The real estate market is a booming one in Goa as on date.

Contact :

Rio Luxury Homes Pvt. Ltd.
B1, REDROCK ELEGANCE, Near Petrol Pump, Marna, Siolim, Bardez, North Goa, India – 403517.
Tel : (0832) 2272222
Mobile: +91 8888900043