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Business EconomyPosted at: Oct 23 2021 6:58PM


Govt intervention needed to boost real estate market in Goa: Rohit Gera

Panaji, Oct 23 (UNI) Real estate market in Goa is facing multiple challenges and there is need for government intervention to give it a major boost, Rohit Gera, Managing Director of Gera Developments, said on Saturday.

''Sale of luxury homes in the state has done extremely well. But Goan market is struggling as it is facing multiple challenges. Mining is closed, there was pandemic and there are other economic challenges. Less number of projects are being launched. There is a need for government intervention,'' he said during a press conference in the city.

He said some kind of intervention was required by the government for home buyers too.

Mr Gera said Goan market continued to be attractive for the company.

Commenting upon the RERA (Real Estate (Regulation and Development) Act), he said it had not been able to solve the problems of developers who were facing various challenges.

Speaking on ChildCentric Homes project in the state, he said it had received very good response in the state.

''We have just handed over the first phase to our customers who are looking forward to experiencing all the offerings and various academies of ChidCentric Homes,'' he said.

Mr Gera said the project had done very well in other cities of the country as well.

He said 85 per cent of the homes were purchased by the Goans.

On the COVID pandemic, he said the company's outlook was to look at the long term goal.
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