Current Affairs

INR 300 Crore Housing Project on River Sal Banks

Nitesh Estate is in the process of developing 9.3 acres of land along the banks of river Sal to house 36 high end luxury villas and the cost of the project is pegged at Rs 300 crore according to a report in a national business daily which quoted the company’s Chief Operating Officer Ashwini Kumar.
Ashwini Kumar said the project which is expected to be completed in two to three years was aimed at the niche up scale market that has a great demand in Goa.
The project named Nitesh Fisher Island is reportedly prepared by international architects CPG while the interiors of the villas are designed by Warner Wong.
The demand for property in Goa because of its scenic beauty and beaches made the company invest in this project where each villa will be priced in the range of Rs 8 to 10 crore, said the CEO.

Besides providing for a swimming pool and a spa for each of the villas, the entire project will also have common facilities like jetty for water sports. 70 per cent of the area that will be covered by landscaped gardens and water bodies which are designed by Belt Collins, an international landscape firm.
Villagers in Goa have been protesting and objecting to such housing colonies that besides straining the crumbling infrastructure in the villages, also change the demography. In fact, the Rajehas, a nationally well known real estate firm’ s project at Carmona has run into rough water with the villagers strongly objecting to it and the Panchayat is yet to give the necessary licenses even though the government has stepped in to provide the mandatory infrastructure for such a project.

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