TMCnet News
INDIA: PANAJI REAL ESTATE BOOMING(InfoProd Via Thomson Dialog NewsEdge)A growing number of people are purchasing property along India's Panaji coastal areas, including Indian and foreign vacationers as well as professionals seeking life by the sea. The trend has led to a significant rise in real estate prices in the alluring areas. Other locations near the state capital, including Miramar, Caranzalem, Bambolim, Porvorim, and Dona Paula have also experienced a similar trend, reported DNA India. "Millions of business travelers and tourists visit Goa every year," explained the chairman of Goa's Indian Institute of Architects, Tulio de Sousa. Peter Vaz, director of Models Constructions which pioneered apartment blocks, explains that Panaji's proximity to the seaside has boosted real estate in the region. Since Caranzalem, Bambolim, Miramar, Dona Paula and Verem-Reis Magos offer residents a locale that is both near the state capital as well as close to the beach, many find the opportunity hard to pass up. Joe Mathias, director of the Panaji-based Mathias Constructions, confirms Vaz's assessment, saying, "The high rents in a place like Miramar is because of the unobstructed view of the sea." |