5 Reasons You Should Not Wait To Buy Your Dream Home In Goa

In an ideal world, one would consider buying a second home in a more tranquil location, far removed from the frenzied pace of city life. That home should be in a place that offers a better quality of life, a mix of urban spaces and greenery that enhances your inner peace. In addition, higher AQIs and a closer connection to nature have a positive impact on your quality of life. Goa offers a mix of urban spaces, natural beauty, and a thriving economy that makes it a desirable place to live, be it a second home or your only one.

Of late, there has been a remarkable spike in demand for luxury homes in Goa. Desirable locations for buying real estate include Assagao, Moira, Reis Magos, and Anjuna, which are closer to various beaches and popular markets of Goa. There are many reasons why you should consider purchasing a property in Goa, including luxury resorts, sea-facing apartments, and employment opportunities. Investing in beachfront properties in Goa is also a wise choice due to the high rental returns and thriving tourism industry. If you’re looking for a change of pace and a chance to experience a unique way of life, here are five compelling reasons why you should consider Goa for that dream home.

Want to understand why Goa continues to attract investors from across India and abroad? Read our blog, Why Invest in Goa Real Estate, for a deeper look into what makes Goa one of India’s most promising property markets.

Key Takeaways 

•Property prices are getting more expensive, but the high prices in Goa’s luxury property segment are expected to go up by more than 40% in the coming years. Early investors in development areas like Moira and Assagao are likely to benefit the most in terms of appreciation in value.

•Location is another factor that affects both the lifestyle and rental returns of a property. Properties in places such as Assagao, Moira, Reis Magos and Anjuna are located close to the beaches and the markets and are in demand for renting.

•In Goa, a property can serve both as a lifestyle and an income-generating asset since people can stay at their villa and rent it out to tourists at the same time.

•Though location is vital, proper legal documentation must also be in place before buying real estate property in Goa.

Availability

The cost of real estate and the availability of many viable options are substantially higher in Goa than in other major metropolitan states. You can easily get a luxury villa at a great price with Kasu Assets. A wide selection of luxury villas can be found at Kasu, including villas in Moira and Assagao.

Return On Investment

There is no doubt that luxury homes in Goa offer a higher return on investment due to their proximity to Mumbai, Bengaluru, Pune, and other urban centres. You can create a new income stream via rentals, as Goa attracts both domestic and international tourists all year round. The real estate market in Goa has appreciated more than 40%, due to an increase in demand for luxury properties.

Recreational Activities

Whether you are travelling or living in Goa, the fresh air and abundant green spaces do offer a relaxing respite. From the wide range of beaches to endless shacks, experiencing scuba diving in Grand Island to visiting the stunning Dudhsagar Falls, there are numerous recreational activities possible in Goa.

Something for Everyone

When you need to amp up your life, you can take advantage of the vibrant nightlife and abundance of restaurants in locations like Panjim, Anjuna, Morjim, and other beachfront villages. When you need to slow things down, you can partake of the rich culture and history around you. There are also ample open spaces, from beaches to village roads where one can maintain an active lifestyle. Almost everything you need is within a 30-minute drive from where you are located.

Second Home

Second homes in Goa are ideal for beachside vacations with friends and family. Moreover, having a luxury villa in Goa is not only a pleasant experience as you get to experience elegance and style, but it also has a high return on investment. A luxury villa in Goa is perfect for those who want privacy, a sense of space, and pristine beaches.

To discover one of Goa’s most serene and well-connected locations for a second home, read our blog Why We Chose Reis Magos (And Why It Might Be the Perfect Spot for Your Second Home).

North Goa vs South Goa: Where Should You Invest?

Lifestyle and pace change a lot across Goa, which adds to the choice - the belt you pick is just as important as finding the right home. The North Goa area with Assagao, Moira, Anjuna, and Reis Magos Street is where a lot of luxury villa buying is happening because it is great for people wanting to get some boutique cafes, a look at art galleries, and a nice spot from where you can easily get to the airport. Besides, it’s quite popular for short-term rentals because of the Indian and international travel demand. South Goa, however, is more like a resort setting - it has bigger plot sizes but is relatively slower in appreciation, and the lifestyle facilities are fewer and not easily accessible.

Investors who want high rental yield and good resale liquidity and who also require good day-to-day convenience will do best to pick the existing niche markets of North Goa at least for now. Meanwhile, South Goa is still a tempting choice for those searching for big land plots and the peace of a very laid-back lifestyle.

Legal and Documentation Considerations When Buying Property in Goa

It so happens that Goa’s real estate regulations are different in some significant aspects compared to the rest of the country in India. Buyer regrets usually arise due to skipping due diligence. Before you sign any contract, make sure you validate these points:

• RERA registration: as a buyer, it is your responsibility to double-check and confirm that the housing unit belongs to a developer registered under the Goa Real Estate Regulatory Authority, which also makes information known, such as when the work will be done, approvals, and the developer’s past work.

• Clear and marketable title: carry out an in-depth study by consulting different land registries of the seller and tracing the history of the property right back to at least the past thirty years with the aid of Goa Land Records (forms I & XIV).

• Conversion sanad and NA permission: it is illegal to build residential houses on a piece of agricultural land unless it carries an updated conversion sanad and non-agricultural (NA) clearance, which is a government authorization granting the use of agricultural land for purposes other than agriculture.

• CRZ compliance: in case of an acquisition with a beach or in the vicinity of the coast, it helps to find out about the CRZ (Coastal Regulation Zone) category that the plot falls in and check the restrictions on construction in those zones.

• NRI and OCI buyer rules: under the FEMA regulations, Non-resident Indians and OCI cardholders can freely acquire housing property in Goa. But they would have to use the NRE/NRO channels to transfer their money, and a foreign national without an OCI card is subject to other limitations.

In reality, a good developer like Kasu would take care of things related to title verification, RERA compliance, and conversion documents so that the buyer doesn’t have to face most of the hassle.

 

Financing Your Goa Home: Loans and Payment Plans

Generally, major Indian banks and housing finance companies give home loans for second houses in Goa. These loans usually finance about 75-80% of the property value for the buyer in India, and the loan can stretch for as long as 20 years. NRIs can also get a home loan from Indian banks, provided they are making repayments through their NRE/NRO accounts. Apart from bank loans, many builders themselves offer payment plans that are either construction-linked or milestone-based to help buyers pay for the property when it is being built instead of requiring the whole amount upfront.

Irrespective of the way you decide, don’t forget to include the stamp duty (at 3-5% in Goa; it depends on the property value), registration fees, and tax on under-construction property in the overall cost to determine the total cost of ownership.

Kasu Assets is the ideal option if you’re thinking about buying a luxury property in North Goa. Kasu Villas are spread over more than 80 acres of land and offer a luxurious retreat from everyday life. Kasu’s commitment to future homeowners makes owning a home hassle-free, as we promise convenience and design. At Kasu, your aesthetic and design needs are met with class and quality. Moreover, for a hassle-free lifestyle, our villas are strategically located and easily accessible to the capital. We at Kasu Homes are committed to providing you with luxury, quality, and an experience that enhances your quality of life.

 

FAQs

Is now a good time to buy a home in Goa?

Luxury property prices in Goa have gone up by more than 40% only recently, and demand is still rising, mainly in micro-markets of North Goa like Assagao and Moira. So, investors who buy earlier can avoid paying more compared to those investors who delay purchase decisions.

Can NRIs buy property in Goa?

Definitely, as per FEMA regulations, NRIs as well as OCI cardholders are eligible to own a residential house in Goa. The payment should be made from an NRE/NRO account. Special permission is required only for the purchase of agricultural land and a farmhouse.

Which is better for investment, North Goa or South Goa?

Due to the lifestyle amenities and tourist demand, North Goa areas generally have a higher rent per unit and faster price appreciation, while South Goa areas are more suited for a buyer looking for big and quiet plots instead of rental income. For example, properties like houses in North Goa’s Assagao, Moira, Anjuna, and Reis Magos corridor have proven to be a sound investment.

What is the average rental yield on a Goa villa?

It is not uncommon for luxury villas located near the beach of North Goa to get short-term rents the whole year round from home buyers and international tourists. However, it depends on the villa's location, size, and management as to what return an investor should expect.

What documents should I verify before buying property in Goa?

It will be important to ensure a property RERA registration and 30 - year land title records, Form I & XIV land registration documents, conversion sanad or NA permission in case the ownership of land is from farming, and coastal regulation zone clearance certificate before entering into the purchase.

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