Indian Real Estate Market has in current times moved from the seven metro cities to smaller towns & states. One of the foremost destinations in India for investing in property at the moment is Goa. You heard it right….Goa!!
Goa is known as the “Holiday capital of the World” and is one of the most sought-after destinations for people looking for an ideal getaway. The Sun, Sand & Sea, the laid-back lifestyle, the green surroundings, the friendly local populace ……all seem to captivate the minds & souls of those travelling to Goa.
Goa has transformed from a holiday destination to a second-home destination with people cherishing a dream to own a piece of this paradise. So I would suggest the ideal location to buy a property is Goa. This tranquil state of Goa offers real estate solutions such as apartments, villas, shops & office spaces at the entry level.
Even if you invest in a modest 2BHK apartment of 110 sq. mtrs at a cost of Rs. 50 Lakh, it will provide a steady rental income of Rs. 25000 per month which multiples into Rs. 3 Lakh per annum. This translates into an ROI of Rs. 2272 per sq. mtr which is quite acceptable considering the returns offered by traditional savings options such as bank & postal deposits. That’s an added income for the rest of your life and at the same time there is always a higher resale value contingent to the present day economic conditions.
Goa just like the rest of India has witnessed a sudden surge in the number of construction projects in the past decade. This small state is slowly transforming into a Real Estate Hub. Goa is strategically well-connected to four major metro cities namely Mumbai, Pune, Hyderabad & Bengaluru by Road, rail & air. A major chunk of these residential properties in Goa is apparently acquired by these metropolitan clients as a second home or purely as an investment.
A new segment that has shown keen interest in the real estate market is expat Indians, who have lots of surplus funds at their disposal. Instead of splurging that surplus amount on indulgence they prefer to invest it in real estate as it provides several benefits such as tax rebates, additional income in the form of rent and an increase in asset base.
For such expat Indians, Goa is the best bet when it comes to investing in real estate. Ideally a large majority of them would want to come back to their homeland. Most of the metropolitan cities in India i.e. Mumbai, Kolkata & Delhi have reached a saturation point as far as standard of living is concerned, with rising pollution levels, serpentine traffic queues & sky-rocketing property prices.
The distinctive plus-point that expat Indians have with buying a property in Goa is that the prices are comparatively less than those in cosmopolitan cities. Coupled with the laidback lifestyle that Goa offers.
So to conclude it can be emphasized that Goa is an ideal destination to invest in real estate.
- Prashant Naik -
