Beyond a tourism destination now, Goa is a but a fast-growing State for scaling businesses offering an exponential growth opportunities to developers, say top officials.
PANJIM, Feb 18 (The CONNECT) – The Goa Rehabilitation Board and Goa Housing Board have invited the real estate developers’ body NAREDCO Maharashtra to explore investment opportunities in the development in the residential, commercial, mixed–use, redevelopment and business parks segments of the State.
Senior representatives of Goa Rehabilitation Board and Goa Housing Board presented the landscape of ‘Unlocking Real Estate Opportunities in Goa’ to the developer members of NAREDCO Maharashtra, which organized its Annual Members Meet 2025 at Panjim to observe a successful milestone of completion of ten years of the trade body’s Maharashtra Chapter.
Goa is not just a tourism destination now, but a fast-growing State for scaling businesses including the real estate offering an exponential potential to the developers who are looking for setting up of new residential and commercial projects along the coastline or in the States’ hinterland and also for the global investors who are willing to invest in second or leisure homes, luxury villas, rental homes or hospitality ventures, said Aleixo Da Costa, Secretary, Goa Rehabilitation Board.
Pic – LtoR: Rajan Bandelkar, Vice Chairman, NAREDCO National; Aleixo Da Costa, Secretary, Goa Rehabilitation Board; Sadashiv Gaonkar, Housing Engineer, Goa Housing Board; Prashant Sharma – President, NAREDCO Maharashtra; Rajesh Doshi – Secretary, NAREDCO Maharashtra and Hari Babu – President, NAREDCO National during the NAREDCO Maharashtra’s Annual Members Meet 2025 at Panjim in Goa.
Da Costa said, the places like Vasco, Sada Vasco, Baina, Zuari Nagar, Colvale have major unused land parcels making the scope for huge investments. “We are planning to take all these land parcels together, release the unused land in Sada Vasco for rehabilitation purposes first and then monetize the rest of the land parcels in a PPP model where private developers can participate. The tenders will be issued very soon for monetization of the land,” he said.
Sadashiv Gaonkar, Housing Engineer, Goa Housing Board, said the State’s real estate market offers excellent returns, especially in North Goa. Property prices in Goa are climbing at 15% to 30% each year, making it a high growing market. On an average, the properties in North Goa have appreciated by ~83% over the last 5 years, with Candolim (168.5%), Siolim (149.2%) and Calangute (83%) experiencing significant price appreciation.
Prashant Sharma – President, NAREDCO Maharashtra said, Goa is not just an international tourism destination now, but it is transforming into a real estate development hub attracting global investors moving its property markets northwards. Goa’s initiative to invite the developers to tap the real estate opportunities in the State is a welcome step, he remarked.
Rajan Bandelkar, Vice Chairman, NAREDCO said, Goa is the perfect example of how a state can bolster other businesses including real estate by keeping tourism at the centre.
