PANAJI
In a bid to promote Goa as a real estate destination, the State government has decided to unlock the land parcels thus optimizing their underutilized land for real estate development through public private partnership (PPP) model.
The Goa Housing Board (GHB) and the Goa Rehabilitation Board (GRB) have joined hands for the implementation of the real estate project that includes residential, commercial, redevelopment, etc. The State has taken on board realty developers’ body NAREDCO -- National Real Estate Development Council, Maharashtra to explore investment opportunities in Goa.
The authorities have identified places like Vasco, Sada Vasco, Baina, Zuari Nagar, Colvale that have got major unused land parcels making the scope for huge investments.
Speaking to media, Secretary GRB Aleixo Da Costa said that Goa is a fast growing real estate hub offering exponential potential to the developers who are looking for setting up of new residential and commercial projects along the coastline or in the states’ hinterland and also for the global investors who are willing to invest in second or leisure homes, luxury villas, rental homes or hospitality ventures.
“We are planning to take all these land parcels together, release the unused land in Sada Vasco for rehabilitation purposes first and then monetize the rest of the land parcels in a PPP model where private developers can participate,” Da Costa said adding that process is on to identify more government land that has remained unutilized.
He explained that the move is basically to make efficient use of government-owned land banks while encouraging sustainable real estate growth.
Da Costa said that the plan is expected to not only generate revenue for the State but also contribute to urban expansion, job creation, and improved housing availability.
