Real Estate in Porvorim, Goa
Located just a stone’s throw away from Panjim, Porvorim is becoming a mega trending Real estate hotspot in Goa since the past few years. So if you are looking for a 2BHK apartment for sale in porvorim it is an ideal place that will fit your budget!
The real estate of Porvorim encompasses the largest municipal and economic region in and around Panjim. And it is characterized as Goa’s premium real estate center! When real estate in India has inched lower, properties for sale in Porvorim has bucked the national trend by 5-7%. A real estate agent from Porvorim said that the government has made more money on real estate than developers through stamp duty, land conversion, construction fees, infrastructure tax, GST and payment to Panchayats. This is the main reason why 2BHK apartments for sale in Porvorim are selling like hot cakes!
There are whole lot of investment opportunities in goa in real estate. Experts also see flats for sale in porvorim goa as an investment and folks who look to buy a holiday home, Mostly NRI’s who have shown a keen interest in Goa’s real estate. European Tourists who want to stay close to nature are also interested in buying old houses for sale in goa, flats for sale in porvorim goa, villas for sale in porvorim goa. A row house villa would cost approximately 2-3 crores while those looking for villa for rent in Porvorim would find it far more economical! Porvorim is a compelling real estate market with sound economic environment and good infrastructure.
What Makes Porvorim a safe real estate bet for investment?
Goa is visited year after year by domestic and international tourists. Most NRI’s or international travelers come to Goa for longer periods of extended stay and properties for rent in porvorim is an obvious choice for them. Also the 3 star hotels of Goa are unable to handle the influx of tourist during the holiday and peak season, so tourist either look for Villas for rent in Porvorim or 2BHK flats for rent in porvorim by devashri which offer flexibility all throughout the year! One must be aware of buying property in goa rules before planning to invest in real estate in goa.
The main reason why people are investing in porvorim is because it is a main hub for commercial and residential activities.
Those who are looking for investment opportunities in goa for example tourists and folks in general want to live, invest in properties in Porvorim because it has access to markets, shops to buy groceries, vegetable vendors, medical pharmacies, food stalls, restaurants and hotels. What makes porvorim special is that it has many schools coming up for people with families, and local transportation like buses, taxis, pilots and rickshaws! Porvorim is a far cry from what it was 15 years ago an isolated place!
Porvorim city is near the capital city of Goa, Panjim. The location is also prime because it has easy access to top 20 must visit places to visit in Goa like Calangute, Mapusa which all share a centered location to porvorim. It is in high demand due to its location because accordingly to the commercial point of view it is on the road of the Nation Highway NH17 through which tourists pass day and night. Also a lot of shops and places which cater to tourism as well as restaurants and hotels that have come up in recent years. One more famous attraction is Mall De Goa which makes porvorim an ideal spot for teenagers and shopaholics alike!
People who live in residential area prefer a hilly area with a view of the Sunrise and Sunset and in porvorim they get just that! With the temperature being 2’ C less than Panjim. Dona Paula a famous landmark in Goa is also near if you own a 2BHK in Porvorim. The Famous Mandovi River is also close by to Porvorim which has a lot of greenery and Sunset River Cruises in the evening!
On the east side of porvorim are located the scenic landscapes of, “Salvador De Mundo” and “Socorro” which are located on hills with rice paddies all long their edges! Salvador De Mundo has a mount with a Chapel and Panjim city can be seen from top with a beautiful hillock scenery. Socorro has many villages with Socorro being the main one, is named after the parish church, “Nossa Senhora de Socorro” and has a divine view! So residents staying at Porvorim has easy commute to these places filled with natural beauty and the local farmer’s market as well as commercial establishments!
Rates and Valuation:
Property Rates in Goa – 2024 – Real Estate Property Price & Trends
Now we all know that if a residential place is costly no one will buy it! The reason why the rates for properties for Sale in Porvorim are the most ideal if you compare them with Dona Paula, Miramar and Panjim which are 30-40% costlier. Real estate platforms like 99 Acres and Magic Bricks have shown that per square metre in Porvorim stood at Rs 53703 in April 2017 and rate rose to Rs 57,512 per Square metre in January 2018, where as in Panjim the rates rose from Rs 74,541 per square metre in November 2017 to 78,265 per Square metre in January 2018. That is why compared to Panjim, Porvorim is cheaper and is suitable for residential projects!
Existing projects in Porvorim:
Upcoming residential projects in Porvorim include, B and F Waterfront, Valley View Apartments, Linc Raghavan Green Valley, Virani the Palm Socorro, Sea View Villas, Sharayu Courtyard, Acorn Niama Valley, Devashri Splendor, Nitin Socorro Gardens Devashri Gardens, Alps Valley, Prudential Palms and a variety of projects selling 2BHK apartments in Porvorim. So this mean there is always availability of flats and buyers are ready to buy. Thus properties and apartments in porvorim are expanding to the nearby Socorro and Sangolda area as well!
Rent Back Facility:
The term Rent back facility means if you buy a flat and you finance it with an EMI of Rs 20,000 / month, you can take that much rent as well, so you are not paying a single penny and the EMI is zero! So tourists and potential buyers have the option to buy a property and rent it out which is the best thing to do in Goa at the moment! Tourists coming to Goa for about a month’s stay are willing to take a 2BHK flat for rent in Porvorim for Rs 15,000 / month to Rs 22,000 per month! So you get the best rental in Goa, most people buy and rent their flat out!
Porvorim is in the prime location so people flock to buy property here because of its connectivity and reside there as well. Hence if you buy property in Porvorim and rent it out, you will get assured rent or rent back or guaranteed rent and they don’t need to worry about loan or repayment or loan. Hence Porvorim is the best investment destination in Goa and is best for those who want to invest and Ideal for those who want to rent and stay because of all the facilities available there!
The reason why people are willing to stay or buy property in porvorim is because it has the best roads, there are lots of malls and shopping centers that have sprung up. It has got the best infrastructure in terms of water, electricity, connectivity and is a famous holiday destination. It is well connected to the beach, you can also visit the Regis Magos fort which is close by and the famous Mandovi river with Sunset Dinner cruises and Dolphin sightseeing, all, this while you take in the cool soft breeze of the Mandovi river in the evening which is a nice place to cool and relax. Houses in Porvorim is also well connected to Major cities like Mapusa and Panjim which are major tourist shopping destination in Goa. Lots of commercial complexes are also coming up, across the road and that is why Porvorim has become a destination for Commercial as well as Residential activities!
So if you are looking for a 2BHK flat for sale in Porvorim, now is the right time to invest in it!