Planning to move to Goa? A few tips.
Source: MoneyControl ( https://bit.ly/2V8GQ1C )
Real estate experts offer some tips for those who are keen on moving to Goa and settle there.
“Planning to move to Goa? Count your banknotes and decide a budget. List your priorities. Pick a reputed/recommended property consultant/agent. Ask questions. Ask more questions. Pay heed to property documents. Get them checked, verified, vetted by a lawyer. North and South are as different as chalk and cheese. Pick one. Then, narrow down neighbourhood – each comes with its own USP. If the property is under construction, enquire about RERA registration. If you are renting, read the lease agreement carefully, especially the clause about maintenance payment”.
Sandeep Naik, Managing Partner, Homes and Estates Consultancy Service (www.homesgoa.com) begins with the basics of moving to Goa. He understands the lay of the land, he knows the how-to by rote. Naik has been in the business for 28 years and Homes and Estates is a one-stop-shop for buying/selling/renting property in Goa.
Naik makes a clear distinction between the luxury villa/house and the apartment segment – he calls them ‘different markets’. Each one has a different reason to move and Goa offers myriad choices, both in terms of budget as well as facilities.
Buying in luxury ‘happening’ neighbourhoods: Of late, there has been an exponential spike in demand for luxury homes – a 5/6 BHK villa built in Indo-Portuguese design with servant quarters and swimming pool has a price tag of Rs 8-10 crore; a 3/4BHK will cost roughly R 4-5 crore. The greatest demand for such villas (North Goa) is in Parra, Nerul, Calangute, Sangolda, Assagao. In Anjuna, fully-furnished villas are priced at R 4 crore upwards. In South Goa, the hip neighbourhoods are Colva and Madgaon.
Buying apartments: In North Goa, the expensive apartment areas are Miramar and Carnazalem – a 100 sq metre 2BHK in Miramar would cost around Rs 2.5 crore, while in Carnazalem, the price tag would be Rs 1.2 crore. In Dona Paula, the per square metre rate is between Rs 1 and 1.5 lakh. Porvorim is more of a mixed bag, the apartments choices ranging upwards of Rs 60 lakh; Siolim is slightly more expensive than Porvorim, with a 100 sq metre 2BHK priced between Rs 80 lakh and Rs 1 crore.
In South Goa, Colva, Benaulim, Majorda are high-end neighbourhoods, Madgaon is a mixed bag of expensive and affordable units while in Nuvem and Verna, one can get a 2BHk for Rs 60-80 lakh.
Renting villas/apartments: According to Thakur, rentals vary largely according to neighbourhood and furnishings. On average, rent for an unfurnished 2BHK could start at Rs 15,000 while a villa rent could be between Rs 70-80,000 depending on the area and facilities. A 3/4BHK villa with private swimming pool would fetch much more rental than the one with same specifications without a pool. Examples: an old Portuguese house in Pilerne was rented for Rs 40,000/month; a villa in Saligoa for Rs 75,000/month; penthouse in Porvorim for Rs 38,000/month; a flat in Kadamba Plateau for Rs 25,000 a month (Source: www.homesgoa.com).