Buy an Apartment in Goa – Approvals & Documents Required
- Why should you buy an apartment in Goa?
- Do Approvals Required from Authorities To Buy an Apartment in Goa?
- What are the Documents Needed to Buy an Apartment in Goa?
- Steps to Buy an Apartment in Goa
- Which localities of Goa is best for a low-budget home purchase?
- What is the price of an apartment in Goa for Sale?
You will find a laid-back lifestyle, lush vistas, plenty of sunshine, and an alluring coastline in Goa, which makes it one of the most sought-after destinations to buy an apartment in Goa and to settle down for a comfortable living. It is known for its high level of tourism, abundant sunshine, and laid-back lifestyle. This inflow of individuals has greatly strengthened the real estate market offering new flats for sale in Goa.
Property prices in Goa have risen dramatically over the last two decades, owing mostly to increased demand for property from residents from neighbouring states as well as expat Indians.
As a popular vacation destination, Goa is also becoming a popular retirement destination. If you enjoy the tranquillity of the picturesque beaches and appreciate the stunning architecture of Goa, then you should consider buying an apartment in Goa there. Here is a quick guide on affordable apartment in Goa.
Why should you buy an apartment in Goa?
If you’ve been looking for a property, here are five reasons why you should purchase a house in Goa and, preferably, conclude your search there. Here are five major reasons why you should buy an apartment in Goa.
1. Beautiful scenery
Goa, as opposed to metropolitan regions, is relatively free of pollution. Many people want to buy an apartment in Goa near beach to enjoy scenic beauty.
2. Goa Free Culture
While Goa has existed since the Mauryan period in 3 BC, its influence was significantly felt after the Portuguese took over it. The impact of Portuguese culture can be seen in the food, clothing, and general way of life of the new generation. Hence, it gives you a great reason to buy an apartment in Goa.
Culture and people go hand in hand. The fundamental truth is how is the general public? The general population in Goa is well acquainted with the vacationer culture and as a result is pleasant and welcoming. His way of life is relaxed and not hurried, so he does not worry about getting where he needs to go.
4. Living expenses
Because of Goa’s laid-back manner of life, the average cost for essential things is quite low when compared to larger cities. Obviously, this is dependent on the location such as flats for sale in north Goa have high living expenses. If the residence is in a high-end location, for example, the Candolim-Anjuna-Calangute-Baga stretch, the territories are considerably more expensive than usual. In any case, interior towns/territories away from traveller attractions are closer to local culture and far less expensive. Flat for sale in Goa near beach are usually expensive. So, if you want to live your life with low expenses then you should buy an apartment in Goa.
5. Investment opens the door to a wide range of ventures
The land market in Goa just opened up, and in a very short period of time, there was an intense fight for the best properties. Despite being relatively new, the region still offers an extensive variety of apartment in Goa to buy choices suitable for each financial plan. In Goa, you’ll find something for everyone. From a one-bedroom flat to a three-bedroom row house or bungalow.
Also read about: Buy an apartment in Chennai
Do Approvals Required from Authorities To Buy an Apartment in Goa?
Before proceeding with the construction, ensure that the real estate builders you are negotiating with for the best place to buy property in Goa have gotten the essential approvals from boards and committees. The following approvals are required:
- Approvals from local governments (Municipality or Panchayat)
- Electricity and pollution control boards permissions are required.
- Forest and Agriculture Department clearances (if the project falls within a green zone)
- Airport officials’ approval (If the project is within the proximity of the airport)
- The Health Department issued a No Objection Certificate (NOC).
What are the Documents Needed to Buy an Apartment in Goa?
If the flat/residence has already been acquired, the documents that must be presented before it may be sold:
- Title deeds and previous ownership certificate of the real owner
- Encumbrance certificate showcasing nil charges
- Receipts related to maintenance, electricity bills, and tax paid
- NOC to transfer ownership of electricity and property tax to new owners
Steps to Buy an Apartment in Goa
STEP 1: Begin looking for apartment for sale in Goa
Your first step will be to determine 2-3 localities that are convenient for you based on your budget and need. After that, you’ll need to determine the features and amenities you expect, like 24/7 security, a clubhouse, kids play areas, maintenance, etc. Following this, begin identifying the properties for sale in Goa that meet your criteria and then speak with agents for tours of those places.
STEP 2: Know your budget
Goa has a lot to offer, but some of the homes are a little too costly for most people (For instance- Some people can’t afford a flat in Goa for 10 lakhs). Besides the original purchase price, there are also several taxes and brokerage fees to be paid. Furthermore, you do not have to spend your whole money to get the 1 bhk flats for sale in Goa you have been admiring for a long time because you can apply for numerous home loans with low interest rates.
STEP 3: Comply with legal requirements
Real estate agents may sell you a property of a 2 bedroom flat for sale in Goa without local authority approval, title documents, or a RERA certificate. A seller might not be authorised to transfer the rights to the property to you if you buy the house from them. To avoid dealing with legal complications after purchasing the property, you should engage a civil lawyer to assist you comprehend the entire procedure and check that the seller has complete legal authority to sell the property to you.
STEP 4: Understand the commute
It’s crucial to buy an apartment in Goa because it is well connected to all major modes of transportation within the state if you intend to live there permanently. Neighborhoods on the outskirts of towns or cities should be avoided as they can be inconvenient in the long run. Before you pay for a home, make sure to check how long it will take you to reach markets, hospitals, schools, and local attractions.
Which localities of Goa is best for a low-budget home purchase?
There are many benefits to buy an apartment in Goa.
- North Goa is known for its beautiful beaches and easy access to markets.
- Mandrem beach, Vagator beach, Arambol beach, Baga beach, Aguada beach, Calangute beach, etc., provide a variety of options to choose from, from entertainment to local markets to historic sites.
What is the price of an apartment in Goa for Sale?
- 2 bedrooms flat for sale in Goa are priced between Rs. 67.42 Lac to Rs. 80.73 Lac.
- Currently, the new flats for sale in Goa starts from 16.00 lacs, with the average price being 1.37 crore.
Also read about: Buy an apartment in Bangalore
In Goa, you can easily find your dream home or cheap flats in Goa for sale no matter where you live. By following these steps, you will find it easier to find your ideal housing in Goa. We hope this article has helped you ascertain the crucial points in relation to buy an apartment in Goa.