Ajit John
PANJIM: He has been in the realty business for over 15 years and has been very busy with his projects in the state. Dinesh Sinari spoke to the Herald about his ongoing projects and the problems involved in trying to construct apartments in the state.
Herald: Do you have any ongoing projects in the state and how long have you been in this business?
Dinesh Sinari: Well I have two cuurently. One in Ribandar and another one in Merces. Both of them are residential. I have been in this business for 15 years. I took a break for five and I then got back at it. I focus on building projects only in North Goa.
Herald: Why do you focus only on North Goa?
DS: Well in the south one will have to deal with the various panchayat’s which can be a very tedious experience, they tend not to give the permissions at the earliest. Everyone has had that experience. The issue is simple, the government passes the project but then these guys delay everything. So to avoid all this I just focus on the North.
Herald: What are the changes in the market since you first started?
DS: Well seven or eight years ago you would have people from Delhi and Mumbai who were willing to buy any project with a river view for the price that was quoted. There was no negotiation. This meant a lot of people made a lot of money but it also pushed up the prices all over the state correspondingly. Today the cost in Panjim is well in excess of Rs 65,000 to 70,000 per sqm. This meant that a lot of buildings were built to tap into this market but such markets do not sustain. Today we have a lot of flats lying empty in the market but no buyers. Today there is a slow drop in the prices. Builders cannot keep such inventory with them. They have to sell to release cash. Now there is demand for flats below Rs 50 lakh which is attracting the attention of the Goan buyer who wants a flat for his or her family. So that is happening now which is very encouraging.
Herald: What is the cost of your flats ?
DS: Well the one in Ribandar is Rs 75 lakh for a two bedroom and the one in Merces is in the Rs 35-50 lakh range.
