I think some Goan bank needs to take initiative on this.. Many people are arguing on how one should not sell your properties while others are arguing for it. If you look at the Twinkle Khanna case, not only are Goans selling their properties, they are not even making much money out of it. Brokers seem to be profiting more than the sellers themselves. I think best way to deal with this issue is to have a REIT in Goa, with Goan investors from all over the world. This would be a more professional way to deal with issues Goans are having with housing.
REIT (or Real Estate Investment Trust) are similar to mutual funds which used to invest in real estate. Many Goan NRI's would be interested in investing in Goa, without going through the hassles of property maintenance. This would be a more preferred route. * REIT will buy and maintain old Goan properties and then earn a income by leasing this places. * Buy large plots and sell them to Goans by dividing in small lots of 250 sq.m (or similar) with marginal profits, cutting out the builders. This will help the Goan aam aadmi. There are other possibilities as well which would be better known to experts in this field. There are many Goans working in field of finance and banking who might be of help in the issue. REIT's are just making an entry into India, with ICICI,HDFC,DLF launching their own schemes and these are future landbank investors. regards Rishikesh REIT Definition (from Investopedia) A security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages. REITs receive special tax considerations and typically offer investors high yields, as well as a highly liquid method of investing in real estate. Equity REITs: Equity REITs invest in and own properties (thus responsible for the equity or value of their real estate assets). Their revenues come principally from their properties' rents. Mortgage REITs: Mortgage REITs deal in investment and ownership of property mortgages. These REITs loan money for mortgages to owners of real estate, or purchase existing mortgages or mortgage-backed securities. Their revenues are generated primarily by the interest that they earn on the mortgage loans. Hybrid REITs: Hybrid REITs combine the investment strategies of equity REITs and mortgage REITs by investing in both properties and mortgages. Individuals can invest in REITs either by purchasing their shares directly on an open exchange or by investing in a mutual fund that specializes in public real estate. An additional benefit to investing in REITs is the fact that many are accompanied by dividend reinvestment plans (DRIPs). Among other things, REITs invest in shopping malls, office buildings, apartments, warehouses and hotels. Some REITs will invest specifically in one area of real estate - shopping malls, for example - or in one specific region, state or country. Investing in REITs is a liquid, dividend-paying means of participating in the real estate market.
