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Land prices rise in Goa

Land prices have risen significantly in Goa, driven by high interest for holiday homes or second homes in the state. Prices have increased by over 20% in the last one year alone across the state.

Land prices in Panaji have shot up from Rs 25,000 per sq.m to Rs 35,000 per sq.m with prime areas like Dona Paula and other areas on the waterfront as high as Rs 60,000-100,000 per sq.m. Prices in North Goa start at Rs 25,000 per sq.m in Calangute and other areas. South Goa is cheaper by around 30% in areas such as Colva.

Apartments are also pricey. A 1,400 sq.ft apartment in Vagator is going for Rs 42 lakh, a 1,500 sq.ft apartment in Dona Paula with all facilities is priced at Rs 95 lakh. In Colva, a 1,000+ sq.ft apartment is priced at Rs 34 lakh.

Real estate majors such as Tata Housing Development, DLF and Parsvnath are pouring investments in the State. This acceleration in development is causing concern to money. Popular opinion recently drove the government to scrap all SEZ projects in the State.

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