Goa

Goa is India's smallest state by area and the fourth smallest by population, located on the west coast of India. The state is bounded by Karnataka in the east and south, Maharashtra in the north, and the Arabian Sea covering its western coast. Goa is famous worldwide for its beaches. Hundreds of thousands of foreigners and domestic tourists visit the state each year. It is one of the most favorite holiday destinations for European travelers. Apart from the beaches, it is also known for its temples located mostly in North Goa.

Real Estate Scenario
The real estate market in Goa is on a roll these days. The amazing locations along the sea banks, the vast areas with rich flora and fauna, availability of huge strategic sites are some of the reasons that are attracting huge number of tourists and also the investors from India as well as from outside. Foreigners and people from other parts of the country see Goa as suitable destination to build villas, farm houses, holiday homes/winter homes etc. It has helped the realty market to rise in cities like Panji, Margaon, Calangute and others as well.

Residential Real Estate
The scenario of residential real estate in Goa is very bright. The demands of residential plots near sea beaches are specially very high and its costs are skyrocketing too. The beautiful images of beaches, swinging coconut tress, shiny sand, and lush forested hills are the most wanted features that everybody wants to look in their plots. The sites fulfill the needed conditions which the investors and buyers look for, like it should be strategically located, have beautiful surroundings and possess enough potential to yield high returns. The Major investors and developers in Goa, such as DLF, Parsvanath and Gera Developers are occupying lands in bulk to build residential complexes, apartments, and villas. Not surprisingly these conditions are raising the property prices.

Commercial Real Estate
All major real estate developers are buying large commercial spaces around the state to develop glitzy shopping malls. A number of renowned retailers are coming up with their outlets and showrooms in the major cities of Goa. With these developments the cost of land is likely to go up many thousand per sq ft. The market observers and analysts see the property rates to rise further in coming eight to ten years. DLF has decided to come up with a swanky shopping mall in Panaji's Patto.

Tourism- Backbone of Real Estate
The economy of Goa is mainly dependent on tourism and so also the real estate industry. Foreigners, generally from all parts of the world, and specially from European countries, prefer the beautiful beaches of Goa to spend holidays. They are also purchasing beach side properties at high cost. The upper and rich middle class Indians from North India, specially from Delhi, see Goa as the ultimate tourist paradise. They come here for long periods and want their own homes. This trend has grown in past some years and is likely to rise further in near future. Apart from it, the hospitality sector is also generating demands for large spaces on beach side to build luxury five/seven star hotels. All these happening events are responsible for raising prices of real estate properties.