Goa Budget 2025 proposes an affordable housing policy through the Goa Housing Board
Chief Minister Pramod Sawant, while presenting the Goa Budget 2025-26, said the government will introduce housing policy for providing affordable housing
Goa Chief Minister Pramod Sawant has said that the government will develop a comprehensive housing policy to provide affordable housing for Goans through the Goa Housing Board to address real estate and housing concerns in the state.
The chief minister said this while presenting a revenue surplus Budget 2025-26 in the Goa assembly on March 26. The Budget provides tax incentives for tourism entrepreneurs setting up starred hotels in rural areas and full SGST reimbursement for the first 5 years for industries investing more than ₹5,000 crore. The budget projected GSDP at current prices for 2025-26 at ₹1,38,624.86 crore with a growth rate of 14.27 per cent. It projected Goa's per capita income of ₹9.69 lakh, portraying a robust and healthy economy.
Local news website Herald Goa said that the Budget has proposed projects worth ₹423 crore to be completed under the Smart City Mission and made operational this year. Panjim will get ₹135 crore under Centre's Cities 2.0, and 3 Smart Roads will be developed under Smart City.
There will also be smart illumination for the city. A New Mopa City has also been proposed under a central scheme. The restoration of Margao Municipal Council has been proposed, along with rejuvenation of major towns.
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It said that for the tourism sector, coworking spaces, cafes, an app aggregator, a cruise terminal, a mini-convention centre, a new jetty terminal, a caravan park in Kerim and other places, an oceanarium, and a drone park at Quitol have been proposed.
According to a report by ET Realty, Pramod Sawant said housing will be made affordable for Goans and that multiple government stakeholders will be involved in the town and country planning (TCP) steering committee to strengthen the goal.
"This committee shall decide all the approvals for mega residential and commercial projects, and the decision taken by the committee will be binding for all the departments," Sawant said on March 26.
Sawant added that the state government will conduct a study on the carrying capacity to ensure sustainable urban growth. The report said the Goa government had announced a relaxation in infrastructure tax payments, allowing real estate developers to pay 50% when applying for approvals and 50% after receiving an occupation certificate (OC) for the project.
The report added that the Goa government has also allocated ₹5 crore for slum redevelopment in the state and announced an amnesty scheme enabling citizens to transfer properties without incurring penalties.
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State authorities urge Maharashtra developers to invest in Goa
The Goa Rehabilitation Board and Goa Housing Board urged the National Association of Real Estate Developers Council (NAREDCO) Maharashtra to explore development and redevelopment opportunities through the public-private partnership model in February 2025.
NAREDCO Maharashtra, in a statement on February 17, had said that the focus will be on advancing residential, commercial, mixed-use, redevelopment, and business park projects across the state.
Goa's real estate market, particularly in North Goa, continues to offer impressive returns, according to a presentation by Sadashiv Gaonkar, a housing engineer at the Goa Housing Board, in February 2025.
"Property prices in Goa are rising at an annual rate of 15% to 30%, making it a lucrative investment destination," the presentation highlighted.
