The Government of Goa plans to increase minimum land prices in key talukas-Tiswadi, Mormugao, and Salcete-to promote balanced development and generate revenue for public projects. Chief Minister Pramod Sawant announced that Tiswadi's prices will range from INR 500 to INR 5,000 per square metre, Salcete from INR 800 to INR 11,000, and Mormugao from INR 420 to INR 4,200. While these hikes aim to regulate land usage amid rising demand, typical home buyers purchasing around 500 square metres will be minimally affected. The government seeks to enhance equity in real estate investment across Goa, but experts caution about potential affordability issues for locals.
The Government of Goa has announced plans to increase the minimum land prices in key talukas, including Tiswadi, Mormugao, and Salcete. This legislative move is aimed at fostering balanced development across the state and generating additional revenue for public projects. Chief Minister Pramod Sawant confirmed the new pricing structure, stating the adjustments are similar to those recently implemented in Pernem and Bardez talukas.
Currently, Tiswadi has minimum land prices ranging from INR 500 to INR 5,000 per square metre. In Salcete, prices fall between INR 800 and INR 11,000 per square metre, while Mormugao's rates range from INR 420 to INR 4,200 per square metre. Despite these increases, the impact on typical homebuyers will be limited, as individuals purchasing around 500 square metres for residential purposes will still be able to buy land under the previous pricing structure.
This decision aims to better regulate land ownership and usage amid growing concerns over land conversion in certain areas. Pernem and Bardez have seen a dramatic rise in land transactions, particularly within coastal zones, attracting a mix of buyers from celebrities to politicians. The soaring demand prompted the government to raise the minimum land prices in these regions by up to 400%. For instance, the minimum price for a square metre in Bardez has jumped from previous levels to as high as INR 25,000 in prime coastal locations.
In Pernem, the new minimum land prices will range from INR 1,500 to INR 15,000 per square metre, while Bardez will see prices starting at INR 4,000 per square metre and escalating to INR 25,000 per square metre for the prime coastal areas. Notably, significant increases were also recorded in specific villages: for example, the price in Morjim and Mandrem has surged from INR 3,000 to INR 15,000 per square metre, reflecting the high demand for property in these popular tourist spots.
The government hopes that by increasing land prices in Tiswadi, Mormugao, and Salcete, development in these areas will promote a more equitable distribution of real estate investment across Goa. The long-term vision is to ensure that infrastructure development keeps pace with the rising interest in these talukas, enhancing the livability and accessibility for residents.
Many in the real estate sector expect these changes to mirror the trends seen in Pernem and Bardez. Some experts warn that while the adjustments may help manage speculative purchases, they could also inadvertently drive prices further out of reach for local buyers. As demands for land remain high, the government is being urged to ensure that appropriate regulations are in place to protect local communities from the consequences of unchecked property development.
With increases in minimum land prices, potential homebuyers and investors should stay informed about the fluctuating market dynamics. As Goa continues to evolve as a sought-after destination for both locals and outsiders, those interested in property in Tiswadi, Mormugao, and Salcete will need to prepare for a more competitive landscape.
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