Goa Real Estate Fighting All Odds, But The Crime

Goa has lately been in news for all the wrong reasons, but surprisingly its real estate industry managed to survive most of the impediments except for the crime.

Notably, the international tourist destination still promises to be a profitable endeavor for real estate developers and investors alike, despite the local resistance and ban on SEZs. According to industry sources, the real estate values in Goa have registered an appreciation of almost 100% in the recent times.

Buying a property in Goa is not an easy task, especially, for the foreigners after the ban imposed on them by the government. But, the cost of purchasing property in Goa is the lowest in the country. The stamp duty rate and registration charges accounts for only 2%.

Plus investment in Goa properties promises enduring return on investments. It allows one to enjoy their vacation while making arrangements for the year round lease accommodation. Research analysis shows that, a property which cost Rs. 55 lakh at the onset of construction churns around Rs. 70 lakh after completion. A 10% comes in as a sure return, reveals researches.

But despite of the booming prospect of the Goa real estate the increasing crime rate is emerging as the biggest obstruction, which is restraining the investments and property transactions to happen.

Furthermore, on account of the increasing crime rate the hospitality industry of the city is suffering particularly. Goa Real Estate agent, S. Mohanty, says, "The number of tourists visiting the city has decreased this time round. Moreover, it’s not only about the harm caused to the real estate market, but all these episodes having brought bad name to Goa and its natives."

While real estate developers are coming up with their new projects every so often, they too are unsure about the gains from their Goa venture. With a number of impending cases of tourist assault the visitors are anxious of coming to India’s hottest tourist destination.

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