Land sharks lurking as property prices skyrocket near Baina beach

The unprecedented attention grabbed by Baina beach has suddenly fuelled the real estate aspirations not only in the erstwhile red light area but all along the Baina beach (landward side). According to the real estate agents from Vasco, land prices in and around Baina have pushed up to exorbitant levels since the time state administration has started demolition of structures at Baina in different phases with the final phase of demolition at Katem Baina.

Another factor which has been fuelling the aspirations of real estate agents towards the Baina beach is the four-lane highway connectivity and the ongoing development of the Baina beach for which the state government has already started the work.

“It is indeed a fact that the cost of land would also be higher once the hutments located on the beach side get cleared. A  view will be changed and people will get direct landscape view of the sea with nature’s beauty, the same will adorn the place which will directly give a better improved cost of land like the way we have in Miramar,” said a property dealer from Vasco. He also claimed that politicians are backing Baina demolition, because “each one wants to use these people for their own selfish needs. When they feel that the people cannot be misguided and used further then they adopt the Japanese policy of “use and throw” like the way present politicians do and these builders turned politician is eyeing on the properties which would be sold like gold in near future.”

Even the builders from Vasco feel that the rates of property at Baina have shot up like anything in the last five years and there is high demand for properties at Baina. “Before the demolition of Baina cubicals (red light area), there were hardly people interested in purchasing the property at Baina. However, the property rates here started increasing since the first demolition of red light area and other subsequent demolitions taken up by state administration. Five years back the property rates here were Rs 3000 to 3500 per sq mt. However, today any property would not be less that Rs15000 to 20,000, while the sea view property would cost over Rs25000 per sq mt,” said Nazir Khan, a builder-developer from Vasco.