PRATIK PARAB
MARGAO: A human family is considered the first and the biggest institution of social togetherness and living. Imagine a family without a shelter. The time when we will not be able to afford a shelter over our head may come sooner looking at the escalating rates of flats and land in Goa.
The decreased FSI of constructions has made matters worse for people and developers have been chopping off cost effective deals by constraining buildings from one more floor of the construction. Increase in FSI will reduce 25 per cent of the cost on flats, which is now the will of the present Government.
Today an average man, no matter which area he belongs to, has to shell out over Rs 35 to 55 lakh to buy a shelter over his head. The real estate developers, who charge this exorbitant amount, are always on the beneficial side with the client being the sole loser.
Margao and its suburbs are commercial hubs of Goa. Margao town attracts several professionals and skilled men from around Goa and India for employment. As commerce increases, so is the town and also the need for shelter in the form of lands, an own house and flats to a great extent.
The town of Margao has now extended till Mandopa and Navelim on south, Raia in the north, Curtorim on east and coastal areas of Benaulim and Varca on west. The scarcity of settlement land always existed in Goa, mostly in Margao due to the existing coconut trees and also the cultivated fields.
This scarcity has now caused a cross elastic phenomenon where the shortage has increased demands for townships all over Margao at the cost of huge money for flats.
An average double-bedroom flat, even in a moderately distant area of the town, may cost over Rs 55 lakh after paying the sale deed and service taxes. The price tag of Rs 55 lakh is overwhelmingly high for a salaried person be it a Goan or a non-Goan.
As one tries to get in closer proximity of the town, the price increases manifold. Recently two flats, ready for possession in Housing Board area of Margao, were sold at a very high price. The first went for Rs 84 lakh and the second for Rs 1 crore and Rs 6 lakh.
Herald contacted several builders and developers of Navelim, Margao and other surrounding areas.
“The cost of construction has gone really high nowadays,” they claimed. “Adding to that, the land costs have touched an all-time high. The cost of labour has increased. To add to the odds, the Government, in the year 2013, decreased the FSI ratio of buildings reducing construction of one more floor with the cost being pushed on to the client,” they explained.
All the builders informed that the cost of a flat, which at present is Rs 55,000 per sq mt, will come down and the consumer will be able to get the flat for Rs 38 to 40 lakh only if the FSI is boosted.
“Until the present arrangement is in force the cost will be Rs 55,000 per sq mt, which, we all know, is not affordable to the common man,” they said.
Willy Fernandes, who was been trying to buy a flat in Navelim area, had to shell out over half a crore of rupees. “The prices have increased to an impossible limit now. The developers have nothing to lose as the need for shelter is ever increasing and never stopping. The people are the worst hit in this bargain,” he said.
Dhanaraj Naik from Cuncolim secured a bank job in Verna. In order to avoid travelling every day, he decided to look out for a residence in Margao so that he could have a house before he gets married. To his surprise the offers and deals on offer in areas like Ravanfond and Davorlim were so high that he decided to now travel to and fro from Cuncolim to Verna.
“I am a middle class man who has just started a career. I was planning to obtain a loan and buy a flat for myself. Sadly, the first offer I received was Rs 75 lakh for a double-bed spacious flat. Later the prices decreased, so did the area. After that I got offer for a flat for Rs 33 lakh. However, it was a nine-year-old construction,” Dhanaraj said.
At present there are over four major constructions and several other minor constructions in various parts of Margao. Of these, Aquem power house and Davorlim area is topping the list closely followed by Vidyanagar and Gogal areas. Several developers have now devised price control methods by reducing the areas slightly and getting into the interiors of the town.
The developers have shown readiness to reduce the cost of the flats if the FSI is increased. Now the decision of the Government can bring much needed relief to the people in need for households.
