Goa, India’s smallest state by area, is renowned not only for its breathtaking beaches and vibrant nightlife but also for its booming real estate market. Despite its popularity, Goa still offers pockets where land is relatively affordable, making it an attractive investment for both residential and commercial purposes. As we move into 2024, certain areas in Goa stand out for their affordability and potential for appreciation. Here’s a look at some of the top locations to consider if you’re looking to buy land in Goa on a budget.
Pernem
Located in North Goa, Pernem is one of the lesser-explored areas that has been gaining attention due to its relatively low land prices compared to more developed regions like Panaji or Calangute. With the upcoming Mopa airport, Pernem is poised for significant development, making it an ideal spot for long-term investments. The serene environment and close proximity to some of northern Goa’s less commercial beaches add to its allure.
Sanquelim
Another promising location in North Goa is Sanquelim. Known for its rich history and cultural heritage, Sanquelim offers affordable land options away from the typical tourist trails. The area is developing rapidly with better roads and infrastructure, aimed at boosting the local economy and tourism. Investing in Sanquelim could be quite beneficial as the area develops, with increases in land value expected as amenities and accessibility improve.
Sanguem
In South Goa, Sanguem stands out as a location that combines affordability with vast green landscapes. Known for its spice farms and waterfalls, Sanguem is less commercialized than other parts of Goa, offering peaceful surroundings at competitive prices. The government’s focus on promoting eco-tourism in South Goa could see Sanguem becoming a more popular destination, potentially increasing land values.
Canacona
Canacona, or South Goa, is traditionally known for its beautiful beaches such as Palolem and Patnem. While property prices in beachfront areas can be high, the interior regions of Canacona still offer land at reasonable rates. The area is developing as a hub for both tourism and residential projects, making it a viable option for investors looking to build holiday homes or resorts.
Dharbandora
Dharbandora is centrally located in Goa and offers some of the most affordable land prices in the state. The area is currently under development, with plans to improve infrastructure which is expected to boost real estate prices. Its central location makes it an excellent choice for commercial projects, especially for industries that benefit from connectivity to both North and South Goa.
Investing in Goa’s Land: What to Consider
When considering buying land in Goa, it’s essential to think about the purpose of your investment. Whether you’re looking to build a holiday home, a permanent residence, or a commercial project will greatly influence the best location for your needs. Additionally, understanding the legalities of land purchase in Goa, including zoning laws and construction permits, is crucial to ensure a smooth transaction.
Future Prospects
The real estate market in Goa is dynamic and influenced by various factors including tourism trends, infrastructure developments, and economic conditions. Locations that are currently considered affordable may see significant price increases as they develop, providing substantial returns on investment for early buyers.
Conclusion
Goa continues to offer numerous opportunities for real estate investment, with several areas still providing land at relatively low costs. Areas like Pernem, Sanquelim, Sanguem, Canacona, and Dharbandora each offer unique advantages and potential for growth, making them top picks for buying land in 2024. As with any investment, thorough research and due diligence are advised to maximise the potential returns from your real estate investment.
