Real Estate Investments Flourish in Goa Despite Judicial Setbacks
Despite recent judicial rulings against controversial real estate projects, major investments continue to pour into Goa's property market. Bengaluru-based Sattva Group plans to invest Rs 800 crore in the region over the next two years.
Real EstateGoaSattva GroupInvestmentsJudicial RulingsReal Estate NewsJul 06, 2025
A series of major judicial setbacks, including the recent Bombay High Court at Goa judgement junking the controversial Calangute-Candolim and Arpora-Nagoa-Parra ODPs, have had no impact on the flow of investments in the real estate sector in Goa.
On Sunday, Bengaluru-based Sattva Group announced it will invest Rs 800 crore in Goa's real estate and property market. The company, which is among the biggest real estate firms in South India, will make the investments over the next two years.
“We will invest around Rs 800 crore over the next two years in Goa,” news agency Press Trust of India quoted Sattva Group's Managing Director Bijay Agarwal as saying. This announcement comes days after reports emerged that another real estate giant, DLF, has sought cancellation of the State RERA registration of its controversial Rs 450 crore 'Bay View' project atop the Reis Magos hill overlooking the Mandovi river.
RERA sources have stated that the cancellation of the registration was potentially to 'modify' the plans and seek fresh registration subsequently. There has been no communication from DLF yet explaining the reason behind its surprise move to cancel the RERA registration of the project.
The Sattva Group, which also has interests in hospitality and education, is already a significant investor in Goa. It has developed the 'Sattva Water's Edge' housing project on the Dabolim-Chicalim plateau. Apart from this project's expansion in the second phase, the company has plans for two more projects in the works.
Meanwhile, Goa's real estate conundrum has faced multiple judicial orders reversing policy laws and executive orders which facilitated large-scale freeing up of green zones for real estate development. The most recent judicial intervention was the judgement of the Bombay High Court at Goa, which junked the two controversial ODPs of Calangute-Candolim and Arpora-Nagoa-Parra.
The judgement has also cancelled the zone changes granted by the TCP, PDA, and other authorities under these two ODPs, numbering over 700-plus. Nearly 450 of these were in survey numbers of various eco-sensitive zones.
Large-scale real estate development has been a controversial issue in Goa for nearly two decades. Political parties and environmental groups have consistently raised allegations of corruption against the government of the day, citing the concretisation of the region as a major concern.
Frequently Asked Questions
What is the Sattva Group's planned investment in Goa?
The Sattva Group plans to invest Rs 800 crore in Goa's real estate and property market over the next two years.
What recent judicial ruling affected real estate in Goa?
The Bombay High Court at Goa recently junked the controversial Calangute-Candolim and Arpora-Nagoa-Parra ODPs, cancelling zone changes granted by authorities under these ODPs.
What is DLF's recent move regarding its 'Bay View' project?
DLF has sought cancellation of the State RERA registration of its controversial Rs 450 crore 'Bay View' project, potentially to modify the plans and seek fresh registration.
What other projects does the Sattva Group have in Goa?
The Sattva Group has developed the 'Sattva Water's Edge' housing project on the Dabolim-Chicalim plateau and has plans for two more projects in the works.
Why is large-scale real estate development controversial in Goa?
Large-scale real estate development in Goa has been controversial for nearly two decades due to allegations of corruption and concerns over the concretisation of eco-sensitive zones.
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