Goa’s real estate sector seems to be undergoing a transition and finally entering a new arena. Goa’s residential and commercial sector is witnessing a substantial change in demand from the end user. In the residential sector, Goan properties offer a wide range of housing, from modern apartments to quaint Portuguese villas catering to the needs of the upper class. Similarly, Goa’s commercial sector is also experiencing a paradigm shift in demand.
Big companies are buying large commercial spaces to develop dazzling shopping malls. Industries like Lakme Lever Ltd, Binani Industries Ltd, FDC Ltd and Indian Oil Corporation have approached the government to start some new business ventures in Goa. These projects will get a total investment of more than Rs 21 crore and will also create employment for the people.
Big real estate companies like DLF, Gera Developers, Parsvnath are presenting their commercial projects to be launched in Goa. The Goa real estate market is looking for a quantum leap in the value of both commercial and residential properties.
This is likely to increase property prices in Goa by 10-15%. At present, the rental value of Goan properties is up to Rs 1 lakh that of a villa, while the capital value of the apartment ranges from Rs 2,400-3,000 per square foot. On the other hand, Goa commercial property rates range from Rs 3,000 to Rs 4,250 per square foot.
National and international buyers are making a large amount of investments due to the appearance of world-class facilities in almost all upcoming projects. Goan Real Estate [http://www.magicbricks.com/property/city/p/p~p!ct~510!/Goa.real-estate] it is developing at a fast pace in terms of physical and social infrastructure. A new airport in Goa is expected for 2014 which will open up even more new channels for growth. All these make Goan property a good place for investment that will bring high returns in future.
