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--- Stephen Fernandes wrote:
>
> Goa's attraction lies in the fact that
> comparatively, property in Goa is a steal. Even
> though prices in Goa have been rising for the past
> two years, they are still very reasonable in
> comparison to the metros. One can still buy
> property in Goa even at upmarket locations like
> Dona Paula and Miramar at around Rs. 25,000-30,000
> per square meter. Prices in Porvorim, which is an
> emerging satellite city to Panjim, is even more
> affordable at Rs. 15,000 - 20,000 per square
> meter.
>
> For those who want to relocate and buy property in
> Margao and Mapusa, the prices are even more
> attractive at Rs. 14,000 - 15,000 per square meter
> and Rs. 12,000 to Rs. 13,000 per square meter in
> Mapusa. Compared to prime beach side locations in
> Mumbai and Chennai, which would cost you a whopping
> Rs. 2.5 lakhs per square meter, you can still get a
> sea facing flat in the North Goa beach belt
> comprising Calangute, Candolim, Baga for Rs. 30,000
> per square meter and along the southern beach belt
> comprising Benaulim, Colva, Majorda for as little
> as Rs. 20,000 per square meter. Which means that
> property in Goa costs just a tenth of the prices in
> metros.
>
> It makes sense for professionals who have property
> in upmarket areas in the metro cities to retire to
> Goa.
>
Mario adds:
>
I'm wish Stephen had chosen a better Subject line for
this post, but thanks to him for this otherwise
excellent essay on the wisdom of buying property in
Goa, complete with rational estimates of the values.
>From local Goans to Goans across India to diaspora
Goans, all should take heed and seriously think of
buying property in Goa, not only to keep as much of it
as possible in Goan hands, but also because it is a
fantastic long term investment.
>
Please don't be hampered by what the prices used to be
in your youth, or even what they were 5 years ago.
Those day are long gone.
>
Why would anyone in their right mind think of retiring
in Mumbai, or New Delhi or Chennai, all approaching
gridlock, when they can get so much more for their
money in Goa, which is still relatively pristine but
getting less so with every passing month?
>
If you are lucky enough to still have ancestral
property in Goa - mine was mostly lost through our own
fault to shrewd relatives and mundkars - this is not
the time to sell, unless you desperately need the
money. You will get far more for it down the road,
believe me. Your heirs will thank you.
>
While banning non-Goans from buying property in Goa is
just not going to happen, Goans buying property in Goa
is the only possible way to keep GOA FOR GOANS,
because not only the rest of India, but people around
the world, have discovered Goa and are already buying
like crazy whatever property they can.
>
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