Goa, a state in the southwest India, is bounded by Maharashtra to the north and Karnataka to the east and south, while the Arabia Sea forms its western coast. Pint-sized Goa is the India’s smallest state by area and the fourth smallest by population. Contrary to its reputation, the state is more than beaches and trance parties. It has a kaleidoscopic blend of Portuguese and Indian cultures, and is versed with sun, beaches, tropical monsoon climate, rich flora and fauna, hippie markets, sea, groomed sand, seafood, restaurants, five-star resorts, cultural diversity, and serene surroundings. The state is one of country’s richest states and was ranked the best placed state by the Eleventh Finance Commission for its infrastructure; based on twelve indicators, National Commission of Population also ranked it first for quality of life in India. Undoubtedly, this beach bounty destination of India is now one of the favorite places for real estate developers, investors, and foreign collaborators as Goa property market has immense potential to generate huge amounts of profits in the near future. Read More
Goa is visited by a large number of international and domestic tourists each year for its beaches, spirituality places, and world heritage architecture. Strategically located in the Western Ghats, the state is a top candidate for investing in vacation homes. As a result, top-notched developers are coming up with theme based residential projects and housing complexes which are versed with recreational amenities and facilities. These positive viewpoints have worked in the favor of real estate Goa, making it an ideal to reap handsome returns and enjoy personal time with friends and family.
Goa property rates are quite on the higher side in comparison to other Indian cities and loaded with varied property types. So, if you are looking a property in Goa then, you may get lots of options. The state has a good spread of residential as well as commercial properties. From residential apartments to villas, resorts, builder floors, staycation properties to commercial structures, one can find a variety of options in Goa. Generally, the niche segment of the country invests in the staycation and commercial properties of the state. Majorly, it’s NRI who are interested in investing in the high-end residential property in Goa.
North Goa is the most promising investment quadrant as it is well equipped with social and civic infrastructure. Moreover, the zone is quite famous among the tourists. Therefore, to earn good amount of profits top-notched developers, investors, and end users look out for property deals in this quadrant. The fundamental reason for the good growth and demand for real estate Goa zone is the proximity to prominent places like Ashvem, Morjim, Baga, Vagator and Anjuna. Another factor that drives the residential market of North Goa is its connectivity with Mumbai, Hyderabad, Pune, Chennai, Ahmedabad, Delhi, and Bangalore by all three modes of public transit systems- road, air, and rail.
South Goa is slightly more affordable for the home-seekers. People are looking to invest in both residential and commercial real estate in Goa as it will offer better rental and resale avenues. All in all, property in Goa offers better returns. The value of property appreciates more, that is why home-seekers, investors, and developers are now interested in looking out for price trends and investing accordingly.
Popular localities for buying property include:
The most opted rental localities of Goa are:
Goa is one of the India’s richest states with the highest GDP and per capital – almost two and a half times that of the country. Tourism is state’s primary industry as it captures revenue from almost 12 percent of foreign tourist arrivals in India. In winter, the state witness tourist from abroad and summer sees tourist majorly across India. The land is rich in minerals and ores, and mining forms the second largest industry followed by agriculture, sixteen developed special economic zones, and alcohol industries. Goa has many medium scale industries including manufacturing units of pesticides, fertilizers, tyres, tubes, footwear, chemicals, pharmaceuticals wheat products, steel rolling, fruits, fish canning, cashew nuts, textiles, and brewery products.
To provide smooth and hassle free drive, Goa has robust road structures and various public transit systems. The state is well connected via national and state highways which have created a smooth inter-city connectivity for the residents, thereby boosting real estate in Goa. It has four National Highways passing through it. Moreover, the state has a total of 224 km (139 mi) of national highways, 232 km (144 mi) of state highway and 815 km of district highway.
Following highways offers seamless inter-city connectivity:-
Goa’s public transport largely consists of privately operated buses linking major towns to rural areas. Government run buses, maintained by the Kdamba Transport Corporation, link major routes like Panjim-Margao route and some remote parts of the state. The corporation owns 15 bus stands, 4 depots and one Central workshop at Porvorium and a Head Office at Porvorium. In large towns such as Panjim and Margao, intra-city buses operate.
Goa International Airport is a civil enclave at INS Hansa, a Naval airfield located at Dabolim. The airport caters to scheduled domestic and international services to Doha, Dubai, Muscat, Sharjah, and Kuwait in the Middle East.
Goa has two rail lines – one run by South Western Railway and other by the Konkan Railway. These railway lines offer uninterrupted rail services to major cities on the western coast.
Mormugao Harbour near the city of Vasco handles mineral ore, petroleum, coal, and international containers. Panjim, which is on the banks of the Mandovi has a minor port, which is used to handle passenger steamers between Goa and Mumbai.