It’s neither under Section 17(2) nor 39A of the Goa Town & Country Planning Act, but Goa’s properties are for sale at a Mega Expo organised on 26th April in Delhi, the national capital.
Not only the upfront discount of up to Rs 26 lakh, but the Expo also offers 26 per cent rental income on the Villas purchased.
The one-day Expo is organised on 26th April, from 10 am to 7 pm, at the Pullman Hotel in Aerocity, Delhi.
Interestingly, it is in association with Hindustan Times, the leading Delhi-based national newspaper.
The main organiser, however, is Neworld Developers, headed by Sunil Sisodiya. (Click here to read Sisodiya’s interview on Goa)
Shailendra Singh is the Managing Director. His Instagram handle shows him with many BJP bigwigs in New Delhi.
Tina Phogat is another director, who is also a partner with Shailendra Singh at Geetanjalii Homestate Pvt Ltd.
The website created especially for this Expo highlights its major offers: upfront discounts of up to Rs 26 lakh, a 26 per cent rental benefit on villas, gifts such as an iPhone 17, a complimentary Goa trip, and even a car if you book a farm.
The Expo will sell township plots at a discount of Rs 70 lakh, prime plots at a discount of Rs 79 lakh, luxury villas at a discount of Rs 1.07 crore, and farm plots at a discount of Rs 69 lakh. The cost of the properties ranges from Rs one crore to over Rs three crore.
The Expo not only promotes Goa as a destination for Holiday Homes, but calls it an “investment”. It categorically states that it would yield rentals between six and 10 per cent annually.
Though it is not mentioned how the investment would yield rentals, it is a known fact that the “residential” holiday homes are rented out “commercially” through online bookings to the tourists visiting Goa.
This business of boarding tourists in residential homes is run by paying for water, electricity, and gas connections at ‘residential’ rates, while registered accommodations, from guest houses to five-star hotels, pay high ‘commercial’ rates for these utilities.
It’s advertised as a “rental income opportunity”. The ROI calculator states that an investment of Rs 10 lakh would return over Rs 6 lakh in five years at a rate of 61 per cent.
Digital billboards have been put up all around the national capital, announcing the ‘sale of Goa’ on 26th April.
Followed by this, with the logos of Hindustan Times and Mint, yet another three-day Expo has also been advertised on the HT website, from 26th to 28th June.
It’s being promoted as “Goa 2.0: The Rise of India’s Lifestyle Capital”!
