Land, where we can rest and call our home is now going beyond the reach of the common man. Soil that we can toil and grow our own food, is almost no longer with us. How can we make Real Estate affordable again?
This should be put into a competition, which allows people to submit suggestions and the best one given an award.
Land is a necessity in today’s world for a decent survival or you are faced with a whole lot of issues from encroaching, land grabbing and more. Many land owners are looking the maximum rupee they can extract, rather than sell to Goans so that we all have a place to call home
I have broken down this study in the following parts for real estate in Goa.
The government & the Church Fabrica : the government or Church body, if they really cared about us, can play a major role into bringing down real estate surge. If they can invest into buying land and building complexes to resell as affordable homes can really crash the market, plus have a small earning. Or if the government involves into a rental business model, it can be a revenue generator.
With participation from private contracting firms to do BOT projects (build operate and transfer) and involvement of private audit/ accounting firms to review any form of red tapism, this can be a win win situation to all.
Leasing agreements can be either lease to own or periodic rentals. If the market is flooded with such offers, this forces individuals and other real estate entities to crash the market and lower their pricing plans or they would be left out of business.
Partnered projects : Another way to bring down cost of ownership is when a group of potential investors pool in money to buy land and build with only with the intention to own homes at cheaper rates with no profit in mind.
In this model, 4 to 5 partners come together pool in money and make a fixed plan of gaining a home in the end. Since there is no goal of selling or making profits, u will focus purely on just paying costs.
Lease to maintain : Alot of homes are kept in lockdown due to families leaving Goa for Portuguese passports. If the govt can work out legal policies where such homes can be leased out on long term with no possibility of ownership by the tenant.
The tenant needs to maintain the home based on the contract terms set both by the govt and the owners and give it back to the owners when the period is over.
Mobile Caravans : I’m not sure the legislation on this, but mobile rvs or caravans are a fun way to have a gypsy lifestyle until u can afford a home.
The good thing here is you can have a new location every day. Making it all exciting !. Some govts have locations where caravans can be set permanently. Not too sure about Goan laws on the same.
Dominitories : it’s important to have such homes around schools and colleges and even in work places to have temporary homes for students and workers to prevent huge rental pricing .
Such places can be private or govt supported places. A typical example is the ” Goan Kudds “.
Such places keep costs low and affordable and have a safe and friendly temp home.
Tax Rebates : May be the govt can workout on tax rebate on construction materials towards the builder lobby if they can sell to Goans, thus reducing the cost of construction significantly.
This plan is crude and could lead to scams so it needs to be planned well from all angles. But tax rebates need to be focused on encouraging builders to sell to Goans.
In the end something needs to be done to safe guard our future