Real Estate Properties in Goa

Goa, the smallest state in India, is located in the Konkan region of the Western Ghats. It is bordered by Karnataka in the east and south and Maharashtra in the north. It attracts tourists in large numbers, both from within the country as well as abroad. The main attraction here are the sandy beaches, the mix of Indian and Portuguese architecture, and the laidback lifestyle.

Historically, the state was a trade magnet. Traders from the West would halt at the west coast of India, especially Goa. The Portuguese traders landed here in 1510. After defeating a ruling Bijapur sultan, the Portuguese established a permanent settlement in what is today called Old Goa. Today, the state still exhibits Portuguese influence especially in culture and architecture.

Over the last few years the real estate development in Goa has increased. The state attracts more than just tourists. Many HNI (high net worth) individuals have realized that since the property prices in Goa are cheaper than those in some of the central areas in Mumbai and Delhi NCR, investing in property in the state is lucrative.

Stats and Facts

• The population of Goa, as per the Census report of 2011, is 14.59 lakhs
• Sex ratio has increased to 973 per 1000 males, as per the Census 2011 report, from 960 per 1000 males, which was the sex ratio as per the same report published in 2001. The sex ratio in Goa is higher than the national average sex ratio which is a positive sign
• According to the Population Census report of 2011, the average literacy rate in Goa is 88.70%. This is an increase of 6% in comparison with the literacy rate figure in the Census report of 2001
• The state of Goa was established on 30^th May, 1987 when it was carved out of the Union Territory of Goa, Daman and Diu
• Panaji is the capital city; although the largest city in the state is Vasco da Gama
• The official language of Goa is currently Konkani. Till 1961, the official language here was Portuguese
• There are only two districts in Goa - North Goa and South Goa
• The National Commission on Population ranked Goa right on top for the best quality of life in India

Tourism and Mining

• Goa is the richest state in India with its GDP being two-and-a-half times the GDP of the country. The primary drivers of the economy in the state are tourism and mining
• The state accounts for 12.5% of all the tourist inflow to India. The pristine beaches, cultural festivals, Goan cuisine and ancient churches are major attractions for tourists
• During the tourist season, the population in Goa almost doubles with the tourist population almost equaling the population of the local citizens
• The second biggest industry in the state is mining. Iron ore, manganese, clay, bauxite, and magnesium are among the minerals available in the state. Since this industry operates on a very large scale, it’s a source of employment for thousands of people in the state
• The important mines are mostly located in the eastern and northern parts of Goa with the Marmagao Port handling the majority of these mines

Connectivity

• Goa can be reached by air through the Dabolim airport in Vasco da Gama. There are regular flights to UAE, Kuwait, Doha, Sharjah, apart from the important connections in Western Europe, Africa, and USA. The charter flights connect Goa to Russia, United Kingdom, Switzerland and Germany. The domestic airlines connect Goa to all major Indian cities including Mumbai, Bangalore, Chennai, Hyderabad, Delhi, Pune and Ahmedabad
• Indian Railways connects Goa to all the major Indian cities through different trains. Both the Konkan Railway and the South Western Railway run one rail line each in Goa. The major cities on the west coast are connected by the former while the latter connects Vasco da Gama to Hubli and Belgaum in Karnataka
• Highways connect Goa to many important cities located both to its north and south. The traffic is, however, mostly to and from Pune and Mumbai. National Highways like NH 4A and NH 17 pass through the state
• Inter-city travel is done mostly by hiring cars and two-wheelers. There are several trusted car rental agencies. Buses are another popular means of travel, primarily, because they are a very cheap mode of transport

Goa Civic Administration

• Goa has two districts - North Goa and South Goa. A district collector, an administrator appointed by the government of India, governs each of these districts
• North Goa features 4 sub-divisions and 6 taluks. Panaji is the headquarter of this district
• South Goa is divided into 3 sub-divisions and 6 taluks. Margao is the headquarter of the South Goa district
• The state has 1 municipal corporation (Panaji) and 13 municipal councils

Goa Infrastructure

• Goa is strategically located with excellent road, air, railways and sea connectivity
• The state has a well developed internal water network. This helps industries transport goods and raw materials more economically than through other modes of transport
• Mormagao is the major port in the state. It has the capacity to accommodate over 50 ships in outer anchorage
• Goa has a strong telecommunication network. Besides the government-owned Bharat Sanchar Nigam Limited (BSNL), a bunch of private players like Airtel and Reliance offer various telecom services
• Goa is a power surplus state. The power generation in the state exceeds the demand for it. According to some estimates, the demand for power is estimated at 305 MW. The power generated, on the other hand, comes up to 394 MW
• The Eleventh Finance Commission placed Goa right on top of other cities for infrastructure

Infrastructure Projects

Goa Real Estate Market

• The real estate market in Goa has been very encouraging for investors because the market has been on a roll for quite some time now. There are many centrally located areas that are vying for builders and investors
• There are umpteen kinds of properties available in the state. These include villas that are 100 years old and apartments with a beach or river view. This provides buyers with plenty of choice when it comes to residential properties
• Frenetic development activities can be witnessed in areas such as Palolem, Dona Paula, and Morjem, encouraging builders to capitalize on these areas
• NRIs looking to come back to Goa during retirement typically prefer either a sea-facing bungalow or a quadraplex with a beach view
• Land has been in great demand even for commercial purposes with many companies intending to construct malls and the retailers looking to set up exclusive showrooms

Key Localities In Goa

Charges By Different Government Bodies

Property Registration

Stamp Duty: 7% of the total value of the property

The registration charges vary from 1% to 4% depending on the base price of the property.

The Electricity Department Of Goa

The Electricity Department of Goa or ED-Goa is responsible for the transmission, distribution and retail supply of electricity in the state. The Joint Electricity Regulatory Commission for the State of Goa and Union Territories is a two-member body that regulates the rules and regulations pertaining to electricity in the state.

Electricity Tariff

Public Works Department, Government of Goa

The Public Works Department of the Government of Goa is responsible for water supply across the state. It ensures the supply of potable water to the public, be it for industrial or domestic purposes. It maintains the entire water supply infrastructure in Goa.

eSMS Goa Mobile Governance

Goa eSMS is an exclusive SMS gateway for use by the departments under the Government of Goa. The officials of the government’s many departments can interact with each other for official purposes through this SMS gateway. The government processes, in this way, achieve excellent efficiency and effectiveness, and the quality of information available across departments is enhanced.