Staff Reporter
Panaji
CREDAI Goa, on Thursday, welcomed the Goa Budget 2025-26, for the proposed revised payment structure for infrastructure tax
which will allow developers to pay in two instalments of 50 per cent each instead of the existing upfront payment system.
“The revised payment structure is a key relief for the real estate sector,” said CREDAI Goa president Rajesh Sheth. The first instalment of the infrastructure tax will now be due at the time of technical clearance, while the second instalment will be payable upon occupancy.
“It is an important move that will ease liquidity constraints for developers,” explained Sheth.
The developer’s body has also viewed positively the proposed amnesty scheme for the registration of transfer of immovable property without additional penalties. “It is another welcome step that will streamline transactions and encourage compliance,” said the CREDAI Goa president.
Shet added that the budget’s focus on completion of sewerage works through the corporation in Porvorim, Taleigao and the coastal areas as well as taking up additional areas in the coming years with a vision of 2050 in mind is a welcome move and a long standing recommendation of CREDAI Goa.
The real estate sector in the state has also approved of the proposal to strengthen the Steering Committee of the Town and Country Planning Department, which will now be the designated authority to approve mega housing projects, streamlining the approval process and facilitating large-scale residential developments.
“The introduction of a housing policy focused on affordable housing for Goans through the Goa Housing Board is a commendable initiative that will help address the growing housing needs of local residents,” said CREDAI.
