"In a world that never stops moving, there is a specific kind of serenity that only the Arabian Sea can provide."
Today’s India lives in cities. This cacophonic urban environment of India’s metropolises makes people turn to Goa’s famed Sun, Sand and Sea spirit to seek solace for the mind, heart and soul. Peace of mind and a laidback lifestyle are the two major rewards of setting foot in Goa either as a permanent resident or as someone looking for a quick weekend getaway. As an icing on the cake, this coastal state is also known for its warm hospitality, scenic countryside and enchanting shoreline.
Purchasing a sea-view house in Goa requires more than just a penchant for the aquatic. Buyers need to conduct a deep dive into coastal regulations and thorough research with respect to the kind of returns that they can expect if they purchase a Sea-Facing Houses In Goa as an investment and turn their property into a lucrative high-performance asset.
Here is everything you need to know about purchasing this highly-acclaimed asset:
- PROCURING A SEA-VIEW HOME IN GOA: Lifestyle + View: Purchasing a home in Goa is more than just a business transaction; it is about sensory upgrade to one’s lifestyle and a spiritualistic reformation of one’s inner self.
- THE BLUE MIND EFFECT: Goa’s sea-facing homes are designed to reduce the cortisol levels. Living in close proximity of water helps in reducing stress and in building the sussegad spirit of Goa.
- ARCHITECTURAL FINESSE: Indo-Portuguese architecture is a classic example of modern luxury with gothic aesthetics – expansive balconies, inbuilt terraces and full-wall glass windows invite generous sea breeze while reducing the need for artificial cooling.
- THE ULTIMATE SOCIAL HUB: A sea-facing home in Goa is the ultimate retreat which doubles up as a home and is ideal for weekend family get-togethers and barbeque evenings. Sea-view apartment owners can utilize their home for socializing rather than visiting expensive restaurants during Sundays.
- THE LEGALITIES: NAVIGATING THE CRZ DIRECTIVES: Purchasing a seafront property in Goa means being obligatory to the CRZ guidelines. Understanding of these directives is necessary for zero-stress real estate investment in Goa.
- CRZ Classification: Coastal zones are categorized into four zones (CRZ-I to CRZ-IV). Residential development are classified under CRZ-II (developed areas) or CRZ-III (relatively undisturbed areas).
- The No-Development Zone (NDZ): The developer needs to be in possession of approvals from the authorities that manage coastal developments
- Title Clearance & RERA: The project needs to have a clear title and most importantly, be RERA-Registered. .
- RETURNS ON INVESTMENT & RENTAL YIELDS: Goa’s sea-facing properties are a lucrative investment avenue. These properties if utilized wisely can provide passive income for life. Here is a lowdown on how buyers can convert their sea-facing apartment in Goa into a formidable revenue-generating asset.
- RENTAL & LEASE EXPECTATIONS: Sea-facing units are the best bet when it comes down to earning returns.
- LONG-TERM RENTALS: Buyers can expect to earn rentals in the region of upto 4 to 5 Lakh per annum from their fully-furnished/semi-furnished 2BHK sea-facing apartment in South Goa. Goa’s growth as a industrial hub has led to thousands of executives and professionals from metropolitan and smaller cities migrating to Goa to build their careers and also to experience the famed Goan lifestyle. The tag of a “Sea-facing property in Goa” carries a lot of weightage in terms of rental income for the property-owner.
- CAPITAL APPRECIATION: Sea-facing properties in Goa are scarce in supply. However, there is a bulging demand for them due to their coveted identity as a status symbol. A property with a sea-view means capturing the very nucleus of Goa in your living room with a lifetime access. Capital appreciation for Sea-view Properties in south Goa is currently well-placed at around 12-15% year-on-year, which is commendable.
ROADMAP TO OWNERSHIP OF A SEA-FACING HOME IN GOA
- Here is a standard procedure for purchasing a sea-view apartment in Goa from a trusted developer like Poetree Homes
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- STEP 1: DIGITAL DISCOVERY: The first step is regarded as the most critical step while embarking on any journey in life. While purchasing a dream home in Goa, this first step is all the more relevant. Start by visiting the builder’s official website. Browse through the Projects section to view high-resolution images, floor plans and download the brochure. Scrutinize the amenities and the view of the waterfront.
- STEP 2: THE ONLINE INQUIRY: Once the project checks all your boxes, fill out the online inquiry form. A dedicated Relationship Manager will reach out to provide more details about the project and will also send details through digital channels.
- STEP 3: THE PROJECT SITE VISIT: The most critical component in the purchase of a Sea-view Home in Goa is the site visit. Here the buyer gets a hands-on experience of the quality of construction as well as the view offered from your dream home. At this stage, the buyer can also verify the RERA documents and approved building plans.
- STEP 4: BOOKING & DUE DILIGENCE: Once the buyer is convinced about what is dream home should be like and when the developer’s offering matches his preference, the booking is confirmed. This is followed by Agreement of Sale and other formalities that vary from developer to developer.
- STEP 5: FINAL PURCHASE & POSSESSION: In this phase, the Relationship Manager forwards the payment schedule to the customer based on construction milestones. The last and final step in the procedure is the Sale Deed Registration at the Sub Registrar’s office. Finally, after receiving the Occupancy Certificate (OC) from the relevant authorities, the customer receives the keys to his coveted sea-facing abode to live happily thereafter with his close ones.
Interested?? Realize your dream of purchasing a Sea-facing home in Goa. Call on +91 9823339630 for more details.
-------Author: Prashant Naik------
