Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
The Goa state government is set to introduce a new "circle rate" for land, which will specify the minimum land price for particular areas within villages, towns, or cities. This follows an increase in the minimum land price for five talukas, including Tiswadi, Mormugao, and Salcete, as well as the coastal talukas of Bardez and Pernem. The revised prices vary from INR 1,500 to INR 25,000 per sqm, with significant hikes in areas near the coast. Revenue Minister Atanasio 'Babush' Monserrate has stated that the circle rate will account for varying characteristics of land within a village, such as proximity to the beach.
After increasing the minimum land price in five talukas of Goa, the state government is now preparing to introduce a circle rate. This refeINR to a minimum land price set for specific areas within a village, town, or city. While the minimum land price applies to an entire village, the circle rate will vary based on the specific characteristics of areas within that village. Advertisement
Revenue Minister Atanasio 'Babush' Monserrate mentioned that the circle rate for land will be announced soon. He explained that while the minimum land price is fixed for an entire village, land prices can differ within the same village depending on its features. For example, a plot near the beach will have a higher circle rate than one situated inland. Currently, the entire village is subject to the same minimum land price.
The government recently raised the minimum land prices in the talukas of Tiswadi, Mormugao, Salcete, Bardez, and Pernem. The price hike in Tiswadi, Mormugao, and Salcete has seen land rates in Panaji increase by more than 300%. In Tiswadi, the minimum land price ranges between INR 5,000 per sqm and INR 25,000 per sqm. Salcete's prices range from INR 5,000 to INR 20,000, while in Mormugao, the rates range from INR 8,000 to INR 25,000 per sqm.
Monserrate noted that he had received requests from buildeINR in Mormugao to revise the land prices. He instructed them to submit their specific demands, and a meeting will be held next week to discuss these requests. Earlier this week, the government raised the minimum land prices in Pernem and Bardez talukas, particularly in the coastal belt, where rates soared by up to 400%. In Pernem, the minimum price ranges from INR 1,500 per sqm to INR 15,000 per sqm. In Bardez, the rate starts at INR 4,000 per sqm and rises to INR 25,000 per sqm.
In coastal villages like Morjim, Mandrem, Arambol, and Querim in Pernem taluka, the minimum land price was revised from INR 3,000 per sqm to INR 15,000 per sqm. In Tiracol village, the price increased from INR 3,000 per sqm to INR 12,000 per sqm. Bardez's coastal villages saw similar increases, with prices rising from INR 5,400 per sqm in Anjuna to INR 12,000 per sqm in Nerul.
The Goa state government's introduction of a circle rate for land, in addition to its recent hike in minimum land prices, aims to better reflect the varying value of properties within a village, town, or city. The new pricing model will consider the unique characteristics of specific areas, such as proximity to the coast, allowing for more accurate land valuations. With the state government revising prices in key talukas like Tiswadi, Mormugao, and Salcete, and a sharp surge in coastal areas, the circle rate is expected to ensure a more equitable pricing system across different regions.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
