Goa Latest Real Estate News

Railways may unlock prime residential property soon

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NEW DELHI: The Indian Railways may soon unlock its prime residential property across the country for redevelopment, a move that could bring in additional revenue of Rs 20,000-25,000 crore for the national transporter. The Railways owns real estate in all major cities and has swathes of residential property in Connaught Place, Nizamuddin and Chanakyapuri in New Delhi, apart from land in the heart of Mumbai, Bengaluru, Chennai and Pune. The plan is to grant 99-year leases to developer making compelling offers for such land, a senior Railway Board official said. The ministry has asked all 17 zonal offices to compile details of residential land that can be redeveloped and offered to investors. The Railways has over 40,000 hectares of land, of which almost 950 hectares has been encroached upon. Work on the plan to unlock railway real estate…
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CRZ clearance for private shacks with 5-year validity

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PANJIM: After coming to the rescue of the traditional beach shack operators this tourist season, the State government has provided some relief to owners of shacks in private property assuring Coastal Regulation Zone (CRZ) clearance for up to five years. Goa Coastal Zone Management Authority (GCZMA) has also been instructed to expedite inspection and issue of permission to these seasonal structures. Private beach shacks operators have hailed the decision asserting it will help begin their business on time. “Until now, private property shack owners had CRZ clearance valid for one year. It was taxing because we had to submit all the related documents for renewal every year. The government has heeded to one of our demands assuring validity of CRZ permissions for five years though it will go through an annual renewal process. The renewal will not demand…
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