If you are someone interested in buying a property in Goa, then you have hit the right place. Goa is growing by leaps and bounds. There is no other location other than Goa, which can describe the boom and blast of the investment. The area is developing rapidly with steady growth and is also benefiting people who have invested in this region. You can follow this guide, which will surely help you to go ahead with your decision to buy a commercial property in Goa.
If you are planning for commercial investment in Goa, there are few things one must understand and also take care of before investing in any property. Goa is a state with modern infrastructure and excellent benefits. Due to this, people intend to invest in a property in Goa. Hence, if you are planning or investment, then you are on the right track. However, there are a few things you need to know before buying any property. Read on to find which are those things.
Search for the most suitable properties
You will find many places wherein the plots are for sale. But, you should understand your requirement and make a choice accordingly. You need to select a location first and check for properties in that particular location. Then, cull the list further depending upon your exact requirements. This will help you to find the properties that suit your requirements the best.
Do Your Due Diligence
See that the developer owns the title of the property. With ownership, the developer has the right to sell the property. If you find any plots in commercial property in Goa, see to that you find out proper details about the safety and the occupancy certificates. Also, it is always better to choose a lawyer who is specialized in real estate to check the agreement and also handles all the other aspects of your purchase.
Other things to consider:
Before signing the document, you need to know the below mentioned items.
- See to that the development of the property is as per the plan.
- Get no-objection certificates from the water department, electricity, and the land ceiling department.
- See that no legal encumbrances are related to the property.
- Approval of property loan.
Benefits of buying a commercial property in Goa
- Highest return amount
- Land appreciation
- Assured rental
- Great investment option
This guide will surely help you to make a proper purchase if followed carefully. Once you get the possession, see to that you register the sales deed. Few things one must consider when looking to invest in any commercial property in Goa are mentioned above. If you choose wisely, you can rest assured knowing that you have made the right decision in property investment. Keep this all in mind when looking for the best property in Goa.
Check out some of our properties listed on www.citihomesgoa.com and villas listed on www.hotgoavillas.com
Goa is a province in India located on the Western coast of the country. The former Portuguese colony is proving a warm favourite for both tourists and real estate investors. Goa has been rated as one of India’s best states to live in. The state has a lower population density, peaceful social and political climate, low crime-rate and good infrastructure.
Some of the interesting areas to invest in North Goa are Panaji, Dona Paula, Kadamba Plateau, Porvorim, Nerul, Candolim, Calangute, Anjuna, Vagator, Assagao and Morjim, Moira, Aldona etc. In South Goa, one can invest in Margao, Colva, Varca, Palolem etc.. A near to beachside property anywhere is globally renowned to command premium rates due to its prime location as it involves a lot of commercial activities.
While investing in any property one must do a through research. Some investors/buyers may want to buy a property to use as a holiday home, others may choose to live in the home. Investing in real estate can be a great way to create wealth, but there are some golden rules to consider before diving into property investment.
1) Buy in a growth area
Buying for Holiday Homes then the buyer should prefer near coastal belt to have a feel of being close to nature and slightly far away from major development and at the same time few minutes driving distance from the beach. Even home can be run a holiday homes and earn higher rental income and higher resale value. Buying in Cities and nearby then the buyer should consider the easy access to the school, hospitals, transport etc to live in. Resale value of the home will be higher. North Goa is an ideal place to buy investment properties.
2) Know your budget
Before investing in property it’s vital to have a through understanding of your cash flow. Also, ask your bank for a pre-approval of your investment loan, so you know how much you’re able to borrow before you start hunting for properties in Goa.
3) Focus on Your Return on Investment
Invest in an area that will get a high return on investment. To obtain the highest return on investment (ROI), you will need to know the area and what houses are selling for in the neighbourhood.
4) Understand the Goan real-estate market
Consider what other properties are available in the immediate area and speak to your real estate agent. They’ll let you know if one side of a street is considered superior to the other. Make sure you do the leg work and consult professionals you can trust. It is also a good idea to find out what changes may be happening in your city.
5) Pick the right type of mortgage to suit you
There are many options when it comes to financing your investment property, so get sound advice in this area as it can make a big difference to your financial well-being.
6) Check the age and condition of the property and facilities
Even with negative gearing, needing to replace the roof or hot water service in the first few months of ownership could make significant difference to your profits. It is therefore advisable to engage a professional building inspector before you purchase to conduct a thorough inspection of the property to find any potential problems.
7) Take a long-term view and manage your risks
Properties are a long-term investment and you should not rely on property prices rising straight away. The longer you can afford to commit to a property the better and as you build up equity then you can consider purchasing a second investment property.
8) Find a good realtor and let them to do their job
A licenced real estate agent that is professional in its field, and its job will keep things in order for you. They can help you with ongoing advice and help you manage your tenants and get you the best possible value from your property, a good agent will let you know when you should review rents and when you shouldn’t.
Citihomes Realty is a RERA registered real estate company in Goa with over 1200 properties listed for sale/purchase on their web portals www.citihomesgoa.com helping you find the right property to buy, sell, rent and invest in.