The inauguration of the new International Airport at Mopa, Goa also led to an increase in tourism, thus impacting the demand for vacation rental homes, hotels, and stay options in Goa. Capital values in surrounding areas have thus doubled in the last three years.
The household sector plays a major role in the Indian economy by serving as a primary source of financial resources through savings, contributing a substantial 70% to the total gross domestic savings.
A property that has the potential to go under redevelopment is an uncertain bet. Apart from differences between existing tenants on a variety of issues, including the choice of the builder and the size of flats that get allotted to them post the redevelopment, you need to check if you have the patience to hold on.
Planning to buy a second home in Goa, especially now that the new airport in Mopa is operational? To start with, a prospective homebuyer should know that the Land of Beaches has emerged as a preferred choice among buyers of second homes on account of the high rental yields it offers. These typically range from 4 percent to as high as 15 percent for luxury sea-facing properties.
By carefully evaluating the market conditions, conducting due diligence, and considering personal investment goals, investors can make well-informed decisions to maximise their returns in the dynamic real estate market of 2023-24. Both sectors offer unique advantages and challenges, and understanding the market dynamics can help investors make informed decisions to maximise their returns.
The commercial real estate market in India is expected to reach new heights in the coming years. The sector has been the focus of investors in the post-Covid era. The growth in the sector is contributing to the overall growth and also creating employment opportunities.
India’s Commercial Real Estate industry has enabled the development of robust office infrastructure to support the growth of economic activity in the country.
Mopa Airport is likely to draw about Rs 2,700 crore of investments from builders and hoteliers until 2030 as the upcoming North Goa Aviation gateway becomes the transport hub replacing Dabolim.
An e-registration facility for flats purchased directly from builders of housing complexes is on the cards, which is expected to do away with the requirement of visiting the office of the registrar concerned for the purpose.
A country’s growth is not when its metropolitan cities grow taller but it can truly be determined when smaller towns, villages, and second and third-tier cities see a spurt in the construction of real estate.