Dears,
Read the story below carefully. It is one in the series of stories appearing in
almost all local newspapers ever since the Draft Regional Framework Plan for
Goa 2021 was released to the Press by the Chairman of the Task Force on 22
September, 2008 .... even before it was approved by the Goa Town & Country
Planning Board or TCPB for notifications inviting suggestions and objections!!
The TCPB met on 29 September, 2008, and approved the Draft RPFG 2021 without
any changes. Rumours are rife that some Ministers "gate-crashed" and raised
Cain. Digamber's other name is Abel ...and he is able to control those raising
Cain. Watch out for the Official Gazete of Friday, 10 October, 2008, the
notification should be there. Visit www.savegoa.com for updates, if interested.
We do not have the village and town level maps yet. They should be available
when the release is official.
The other sad stories that are appearing in the newspapers are about falling
prices of iron ore, the sluggish demand in China and so on. The newspapers
never had stories of how the prices of iron ore crossed the Rs. 4000/- per
tonne mark [from Rs.1,200/- per tonne two yeasrs ago] and how the exporters
crib to pay Rs.24/- as cess/tax to the Government.
The sob stories in almost every newspaper since 23 September, 2008, are to take
the sting out of the RPFG 2021. Make no mistake about it. The so-called
"reports" are sure to be syndicated or out-sourced .... like a BPO!!! If the
people of Goa can be lulled into complacency for 90 days, the media managers
will be in for some handsome bonus. The Final RPG 2021 can then be notified for
implementation ....Mopa, marinas, casinos, bypass roads and all.
I am NOT feni. I am Goan.
Mog asundi.
Miguel
......................................................
Times of India report:
Goa realtors in deep trouble
3 Oct 2008, 0519 hrs IST, Preetu Nair,TNN
PANAJI: In the past few years, a large percentage of property investors in Goa
had been foreigners. But restrictive interpretation of FEMA has made it
difficult for a foreigner to invest in India, which has affected the market.
Says Chandrakant Kundaikar, legal advisor on property issues, “In 2000, 50% of
the investors were foreigners, 30% NRIs, 20% people from other states and 10%
Goans. By 2008, the percentage of foreigners was down to 5% and Indians,
especially Delhiites, had increased to 55%, followed by NRIs at 30%,” added
Kundaikar. The percentage of Goans investing in property has remained constant
at 10% for the last eight years.
At the height of the construction boom, prices in Goa had shot through the
roof. Said Michael Lobo, director of Goa’s property and building trade
magazine, Homes and Estates, “Apartment prices had been overvalued by almost
30% to 50%.” The present value of apartments varies from Rs 8,000 to Rs 45,000
per sq m, according to government registered property valuer and architect S N
Bhobe.
The prices at their highest, range between Rs 20,000 and Rs 45,000 per sq m in
Panaji, Calangute, Baga and Candolim, followed by rates of Rs 15,000 to Rs
40,000 at Anjuna, Vagator, Arpora, Parra, Dona Paula, Miramar and Old Goa. The
prices are at their lowest, between Rs 8,000 and Rs 15,000 per sq m, are at
Pernem, Quepem and Canacona.
“Prices may come down as the sales have reduced considerably,” added Bhobe.
Said Lobo, “Land prices will not fall as there is limited land in the
settlement zone but the builder’s profit will decrease, which will reduce the
burden on the buyer.”
Developers believe there are multiple reasons for the impending slump: the
buying power of people has reduced with the crash in the markets, interest
rates have increased making it difficult for small builders to sustain in the
fast changing market and increased opposition to mega projects in Goa has also
created a feeling of uncertainty amongst investors.
“The construction market in Goa will feel the heat as the overall buying power
of the people has reduced,” said Nitin Kunkolienkar president of Goa Chamber of
Commerce and Industry. The EMI (equated monthly instalment) on a 20-year loan
of Rs 20 lakh works out to about Rs 20,000 plus a month.
“Builders have little choice and will either have to scale down on amenities,
sell the apartments at lower rates or sell the entire project to a bigger
builder,” says Lobo. ENDS
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