Goa Plans Affordable Housing

29 Mar 2025 CW Team

Goa Chief Minister Pramod Sawant has announced a comprehensive housing policy to ensure affordable housing for Goans through the Goa Housing Board. The initiative aims to tackle real estate concerns in the state.

Presenting the revenue surplus Budget 2025-26 in the Goa assembly on March 26, Sawant also introduced incentives for tourism and industrial investments. The budget projects a ?1.38 trillion GSDP at current prices, reflecting a 14.27% growth rate, with per capita income estimated at ?9.69 lakh.

Major Budget Highlights ???? Affordable Housing: A new policy involving multiple government stakeholders will streamline approvals for mega residential and commercial projects. The government will also study urban carrying capacity to ensure sustainable development.

???? Tourism & Infrastructure: Goa will see ?423 crore in Smart City projects, including ?135 crore for Cities 2.0 in Panjim. Developments include smart roads, smart illumination, an oceanarium, a cruise terminal, a caravan park in Kerim, and a drone park at Quitol.

???? Real Estate Boost: The state relaxed infrastructure tax payments for developers and allocated ?5 crore for slum redevelopment. An amnesty scheme will allow property transfers without penalties.

Goa Invites Maharashtra Developers In February 2025, the Goa Rehabilitation Board and Goa Housing Board invited Maharashtra’s NAREDCO to explore PPP-based real estate projects, including residential, commercial, and mixed-use developments.

A Goa Housing Board presentation in February 2025 highlighted that property prices in the state are rising by 15%-30% annually, reinforcing Goa’s position as a lucrative investment destination.

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