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Goa's state cabinet has approved a 130% hike in the minimum land prices in Bardez and Pernem talukas, raising rates from INR 3,000 to INR 8,000 per sqm, primarily affecting commercial property buyers. Chief Minister Pramod Sawant assured that ordinary citizens buying small plots for homes would continue to pay the previous rates. The price increase is driven by high demand and aims to boost government revenue while promoting balanced development across the state. As Bardez urbanises and Pernem grows due to the Mopa Airport, this move is expected to influence land prices and real estate investment in other regions of Goa.
Property buyers in Goa's rapidly developing Bardez and Pernem talukas will face higher costs after the state cabinet approved a nearly 130% hike in the minimum land price on Thursday. This move is expected to influence land prices in other talukas as well. Chief Minister Pramod Sawant assured that the decision won't impact ordinary citizens, as those purchasing around 500 sqm of land for building homes will still pay the previous rates. Advertisement
Sawant stated that the minimum land price in the two talukas has increased from INR 3,000 per sqm to INR 8,000 per sqm. He mentioned that buyers acquiring land for commercial purposes will now have to pay the updated rates. He said that they would raise the price in those two talukas due to the high demand for land. Goa consists of 12 talukas. He is of the strong belief that this decision will boost government revenue in the long term.
There have been accusations against the town and country planning department concerning widespread land conversions in Pernem and Bardez. In recent years, these talukas have become popular for land deals involving actors, celebrities, politicians, cricketers, and bureaucrats. Sawant emphasised that the government's decisions are aimed at the state's overall development and he added that they raised the rates in these talukas to ensure that other areas would also benefit from the development.
Bardez is a prominent taluka in North Goa, known for its popular tourist destinations such as Calangute, Baga, and Anjuna beaches. It is a rapidly urbanising region with a mix of vibrant local culture, historical sites, and commercial development. Bardez is also home to bustling markets, restaurants, and resorts, making it a favoured area for property investment. Pernem, also in North Goa, is less developed compared to Bardez but is witnessing fast growth due to the construction of the new Mopa Airport. Known for its scenic beauty and quiet beaches, Pernem is becoming a prime location for real estate investment.
The substantial increase in minimum land prices in Bardez and Pernem talukas reflects Goa's evolving real estate landscape. Whilst aimed at boosting government revenue and promoting balanced development across the state, this move will significantly impact property buyers, particularly those investing in commercial ventures. The decision underscores the growing appeal of these North Goan regions, driven by tourism, urbanisation, and infrastructure development. As the effects ripple through to other talukas, it remains to be seen how this will shape Goa's property market and overall development trajectory in the coming years.
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