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Goa beckons bone tired Indians![]()
SANJAY BANERJEE
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TIMES NEWS NETWORK |
PANAJI: How about a home far away from the madding crowd of metros, ensconced in the congenial surrounds of rustle of coconut trees with a view of the sea or just about a few minute walk to the beach!
Builders say there is an upswing after nearly a decade since the Gulf war in the early 1990s when NRI Goans darted back to their native place. The international film festival of India (IFFI) has been an add on to destination Goa for North Indians.
Dinar Tarcar president of Goa chamber of housing industry, affiliated to confederation of real estate developers of India, "The rates have moved up by 20 per cent in recent months and by next year, for some of the locations one can expect an appreciation of 100 per cent. Where is the land in Goa for the prime
areas," he reasons, adding that there were very good inquiries in Delhi when they had put up a stall for real estate.
While several Mumbaikars prefer the North Goa coastline where they like to spend weekends, many from Delhi with the promise of warm and cosy winters and lush green vegetation have also desired to shift homes, say several builders. Prices have moved up in the posh Dona Paula plateau and areas close to Miramar beach in the capital. The commercial hub of Margao and the coastline in south Goa, where many five star hotels are located, are also undergoing a construction boom.
Doors made of precious Burma and African teak along with a one-time maintenance charge in the predominantly low-rise residential complexes is an altogether different buy in coastal Goa. A two to three bedroom flat could cost somewhere between 15 to 30 lakhs including parking slots that would be very unlikely in the big cities.
"There is also a very great demand for old
Indo-Portuguese houses by foreign nationals," says well-known architect, Gerard da Cunha. With nearly 3.5 lakh foreign tourists, some of whom having stayed back in golden Goa and started a shack on the coastline or a hotel, "there are very good inquiries for houses," says Peter Fernandes of Easy Goan (name of a real estate firm).
The lure of owning the gorgeous old houses though has a flip side as many have been cheated. The RBI office in Goa will soon start a poster campaign detailing the foreign exchange management Act, 1999 at five star hotels, airports, railway stations, banks and money changer in the coastal belt.
The Act categorically rules out individual title ownership of immovable property to foreign nationals unless they have claims to permanent resident status in India (182 days) or have formed a business venture under which they can buy property. | |
- Forwarded by www.goa-world.com
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