Which area is better as an investment in Goa?
North Goa is the commercial and economic capital of the state and hence the primary investment destination for home buyers and builders alike. South Goa has less commercial activity and is mostly considered for end use. If you are looking to get good return on investment, North Goa should be your preferred zone. North Goa in general also offers better rentals and resale value. If you are looking for a property for end use, you can pick South Goa as real estate prices are reasonable here. North Goa shoreline (Morjim to Candolim beach), Panaji and other upcoming localities like Socorro, Siolim and Sangolda are a good bet as an investment proposition.
Where should I invest in a home in Goa if on a limited budget?
If you are looking for a property in Goa for leisure purposes like a holiday home or residence, South Goa is a good bet because property prices here are considerably lower than North Goa. For example, property prices in Margoa (South Goa) – the second largest city after the capital Panaji (North Goa) are in the range of INR 3800 to 5000 per sq. ft. Property rates in Panaji on the other hand hover around INR 5500 and 7000 per sq. ft. There is stark difference in the pricing. Hence if you are on a limited budget consider South Goa.
Do I invest in a beach side or country side villa in Goa?
Investing in a beach side property is an expensive affair because a lot of commercial activity takes place here, both in North and South Goa. If pricing is your primary concern the country side properties are atleast 30% cheaper than beach side properties. However if you are not on a budget, then one must look to invest in a beach side villa in Goa. Make sure you follow the panchayat, local government and CRZ (Coastal Regulation Zone) rules before starting any construction. Obtain necessary environmental clearances if needed.
Which areas should I look to invest in North Goa?
North Goa by itself is a comparatively pricey real estate investment. However if budget permits you must look at investing in and around Panaji, the state capital where property prices hover around INR 6000 to 7000 per sq. ft. Popular beach stretch like Calangute, Candolim etc. are excellent bargains at INR 5500 to 6500 per sq. ft. If you are looking at something more affordable, then you can look at regions like Socorro, Sangolda, Saligao, Old Goa and Ribandar which can cost you around INR 3500 to 4500 per sq. ft. These few localities have also seen a lot of real estate activity lately. Top builders like DB Realty, Gera, Concrete Developers, Prestige Group, Remus Group and Naik Navare are also concentrating on the development of North Goa.
Where can one invest in a cheap beach property in Goa?
South Goa is where you can buy a holiday home or beach house for a reasonable price. Today people from across the country have started to consider Goa as a probable retirement destination creating a big market for residential real estate like apartments and villas in Goa. Pricing of properties is home buyer friendly in South Goa. If you take North Goa’s popular beach destination of Candolim and compare it with its counterpart in the south like Majorda, there is almost a 40% price difference. You can get a property in Majorda for almost INR 3200 per sq. ft. which is nearly half of what you will pay in North Goa.
Anupriya Dharma for IndiaProperty.com
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