Slew of reforms in Goa TCP dept planned

Town and country planning minister Vishwajit Rane on Monday announced a slew of reforms in the department, including an online file tracking system from May 1, deemed approvals for commercial and residential projects after 21-45 days, and approval of building plans by empanelled architects for constructions with built-up area of up to 500 sq m. […]

Property prices may go up in the near term

The Confederation of Real Estate Developers’ Association of India (CREDAI) has expressed concern over the sustained increase in price of construction raw materials including cement & steel. Historically, prices of almost all materials & commodities shoot up whenever there is a consistent increase in fuel price but the prices of construction raw materials have been […]

The Goan mid-segment real estate needs immediate attention

COVID pandemic came in as a boon in disguise for the high-end luxury segment in the real estate sector in Goa, the mid and lower segments of the sector, however, continue to struggle. According to the realtors the effective cost for an ordinary buyer has gone up and their woes have increased dramatically. The buyers […]

Deepak Parekh: Real estate heading to best of times

According to Parekh, housing markets move in cycles and research suggests that for India, the peak and trough of each housing market cycle typically entails a duration of 6 to 8 years. HDFC Chairman Deepak Parekh Friday said the housing and real estate sector is “heading into the best of times” with a lot of […]

Revised Goa RERA rules allow return of registration fees

Close to four years after the Goa Real Estate (Regulation and Development) Act was formulated and notified, the Goa RERA has finally framed norms to return the registration fee paid by an agent or builder. Real estate agents have to pay up to Rs 1 lakh and real estate developers Rs 50,000 to Rs 10 […]

Goa RERA frames rules to extend deadlines for housing projects by a year

The builder or real estate firm will have to apply to Goa RERA Authority at least three months before the validity of the registration period expires and only in exceptional and unforeseen circumstances the three-month period may be waived, Goa RERA chairperson S Kumaraswamy said. The department of urban development has notified rules to extend […]

Goa government increases property registration fee by 0.5 to 1%

The notification issued by the law department requires customers to pay 3% of the market value of the property while registering the sale deed, where the value of the property does not exceed Rs 75 lakh. With an intention to shore up its depleting revenue, the state government has increased the property registration fee by […]

Goa coastal body asks village panchayats & municipalities to submit CZMP resolutions

Some panchayats in Bardez, Bicholim, Pernem and Tiswadi and municipalities are yet to submit their resolutions to the GCZMA. The Goa Coastal Zone Management Authority (GCZMA) has directed the directorate of panchayats and the directorate of municipal administration to direct village panchayats and municipalities to submit a resolution taken by them on the draft Coastal […]

Resurgence of Indian real estate after a year of pandemic

Today, the second wave of coronavirus has imbued uncertainty in the sector resulting in a temporary pause, but developers are now better prepared and well-versed with the know-hows of a pandemic. India’s resilient and burgeoning real estate segment has always remained an investor’s favourite, and one of the most sought-after realty markets globally. The growth […]