The Goa Rehabilitation Board and the Goa Housing Board (GHB) are set to unlock unused land parcels for real estate development through public-private partnership (PPP) model in a bid to optimize underutilized government land, drive housing and commercial development, and cater to the growing demand for properties in Goa.
As part of this initiative, the government bodies have invited realty developers’ body NAREDCO Maharashtra to explore investment opportunities across various real estate segments, including residential, commercial, mixed-use, redevelopment, and business parks.
“Goa is not just a tourism destination now, but a fast-growing State for scaling businesses including the real estate offering an exponential potential to the developers who are looking for setting up of new residential and commercial projects along the coastline or in the states’ hinterland and also for the global investors who are willing to invest in second or leisure homes, luxury villas, rental homes or hospitality ventures”, said Aleixo Da Costa, Secretary, Goa Rehabilitation Board.
According to him, the public sector is looking at redevelopment of its used land parcels combined with monetization of its unused land parcels through the public – private partnerships. He mentioned that the places like Vasco, Sada Vasco, Baina, Zuari Nagar, Colvale have major unused land parcels making the scope for huge investments.
“We are planning to take all these land parcels together, release the unused land in Sada Vasco for rehabilitation purposes first and then monetize the rest of the land parcels in a PPP model where private participate in projects in the coastal state, leveraging their expertise while ensuring that the government retains oversight.
The plan is expected to not only generate revenue for the state but also contribute to urban expansion, job creation, and improved housing availability.
The move aligns with Goa’s broader strategy of planned urban development, making efficient use of government-owned land banks while encouraging sustainable real estate growth.
According to reports, officials from both boards are currently working on identifying suitable land parcels, drafting policy frameworks, and outlining developer participation guidelines before formally launching the initiative.developers can participate. The tenders will be issued very soon for monetization of the land,” Da Costa said.
When India’s mainstay property markets are expanding beyond Mumbai, New Delhi, Bengaluru, etc., the states like Goa are gaining prominence. Goa has been witnessing real estate investments by affluent Indian and overseas buyers in recent times owing to their inclination for acquiring income-generating commercial assets or second homes along with their primary city homes.
“Goa is not just an international tourism destination now, but it is transforming into a real estate development hub attracting global investors moving its property markets northwards. Goa’s initiative to invite the developers to tap the real estate opportunities in the State is a key move,” Prashant Sharma – President, NAREDCO Maharashtra.
Under the proposed model, private developers will be invited to
