The union minister of finance gave the stakeholders of real estate reasons to smile in the interim budget of 2019-20. The clause exposed a slew of methods that can provide the realty sector of Goa, a much-needed breathing and maneuvering room. The minister waived off notional rent, which applied to a different residential unit if anyone owns more than one property. There is a clause for a concession for two homes for all citizens who migrate to the state for jobs. However, the benefit will apply well to people who invest in holiday homes. Before the budget, people who had two houses had to pay taxes on notional rents even if the second establishment isn’t for hire.
- Attaining widespread recognition: Holidays and getaways have always been the part of Indian culture, but now, it is growing exponentially. More and more people realize the importance of taking a break now and then from work. People are going as far as to invest in properties in holiday destinations, and Goa is a hot favorite right now for investors. The bright blue waters, the white sand beaches, the Portuguese-influenced architecture, the relaxed lifestyle, classy nightlife, and fantastic food, all are contributors to this fact.
- Next big investment destination: Real estate specialists and business folks are now recognizing Goa as a well-recognized state for investing in property. People are always on the lookout to buy a house from the best real estate project in Goa. You can reach this state via rail, road, air, or sea. Transportation to and from the city isn’t an issue at all. Other than all that, a new airport project started its venture quite recently. According to the Prime Minister of the subcontinent, it will generate tourism by fifty lakhs annually.
- Huge per-capita income: Four years ago, Goa set the record of being the state which earned the highest per-capita income. This astounding progress along with the growing economy supported by manufacturing industries and service providers, Goa became an attractive destination. Now it not only gains the attention of domestic investors but also international. The state’s land acquisition policy further makes it a lucrative market for real estate investment.
- For all: One positive aspect of Goa is that it suits every investor of any budget. Even if you want to spend on the best real estate project in Goa, you won’t go back empty-handed. Though, you may have to take into consideration whether you want to purchase property in the northern or southern area. If you’re looking for an investment market, then North Goa should be your choice. It offered better resale and rental avenues and was the first to harbor development in the form of real estate.
- A topper of the list: Goa is like that student of a classroom who always achieves the first rank. Only a few years ago, this city topped the list of the destinations which are perfect for a second-home investment. Yes, there had been a dip in the real estate market ten years ago when the interest of the non-natives fell towards the residential sector. The state government increased the FSI or floor space index in some of the prime destinations. Together with that and the new real estate clauses of the interim budget of the present year, the business of real estate in Goa regained its lost vitality.
- For retirees: Since the prices of real estates are reasonable in Goa, retirees and old folks can easily buy the property from the best real estate project in Goa. After all, this city is much more than a holiday destination. It is one of the hottest retirement destinations in the country because of its calm and peaceful environment. Even non-native and foreign retirees are seeking properties in Goa to spend the rest of their lives in a beautiful atmosphere.
- Huge availability: The length of the state is merely a hundred kilometers from north to south. Yet, it is full of unexplored locations where land is available in parcels. It is a factor that is encouraging real estate agencies to build projects. Real estate is not just about designing houses and residential complexes but also commercial projects. New business centers will create jobs, and homeowners won’t have to rely solely on the income from rentals.
A great investment
There is no better off-site investment to make than on real estate in Goa. It allows you to enjoy holidays away from the hustle and bustle of your city while earning some extra money too. Yes, the foreigners who flock in Goa don’t stay for a few days or weeks. Some of them remain for over several months. So, you can imagine that you will be earning money steadily. Therefore, you shouldn’t wait longer to own your second home at this paradise-like state of Goa.