20th November 2017

A builder opens up on the future of housing in Goa; real estate prices and more.

blog-author By Karen C

Aatish Babani – Managing Director of Aansav is on a race to create a residential development unlike anything seen before in South Goa. In this interview he opens up on the inspiration behind his ambitious project (a joint venture with Shrem and Marquis) and reveals his take on the future of real estate in Goa.


Aatish Babani – Managing Director of Aansav, Goa

Q. What was the audience you had in mind when conceptualizing Tremonte?

Aatish B: The audience we had in mind when conceptualizing Tremonte were families living in Margao that were eager to upgrade their lifestyle. Also families that were expanding and needed more living space – either due to the addition of more children or because their elderly parents needed to move in with them.


Tremonte - 3BHK apartments and duplexes in South Goa

During my stay in Goa in these last ten years, it has become obvious that there are no developments – at least in South Goa – that can match the finesse and class of developments in metros like Mumbai, Pune, Gurgaon or Bangalore. This is a real shame because Goa is not some small town that’s off the map but an international tourist destination. A development that offers a world-class standard of living is clearly an idea whose time has come. We believe Tremonte will be the first to make this happen in South Goa.

Q. What is your advice to those who are looking to buy a house in Goa?

Aatish B: The first thing to consider is your need at the time of purchase. If you are a family with young children then a residence with energizing recreation spaces will boost your child’s growth. If your parents live with you, then a senior-citizen-friendly residence or a differently-abled residence can be a great source of comfort to them.

Next, you need to check the quality of construction as well as the finishing. Up until five years ago, builders in Goa were able to get away with shoddy construction and inferior fittings. Today that’s no longer the case as customers are more aware of the quality of residences available beyond Goa and want the same for themselves too.

Finally, the paperwork needs to be all clear before you sign the dotted line. The important thing to remember when buying a house in Goa is to look for a place that will enhance your lifestyle and allow you to enjoy all that makes Goa special.

Q. What other real estate projects are you working on currently?

Aatish B: We are working on a project – Verde – on the coastal belt in Varca. This was primarily designed as a holiday home and so the location – close to the sea yet surrounded by green fields – is perfect, I would say. Verde has several amenities on the property, including a spa, a 40-seater theatre and restaurants, to list a few. The whole vibe is one of a resort. But it also works as a first home for many buyers.


Resort-styled apartments and villas at Verde, Goa

Q. Do you see a fall in real estate prices in Goa soon?

Aatish B: The land prices in Goa haven’t fallen so I don’t see the cost of apartments falling either. You have to understand that there are two major components to the cost of an apartment: 1. The cost at which the land is either acquired or agreed to be acquired. 2. The cost and expense you end up bearing to create a product that is delivered to the client.

Yes, it’s possible to save 10% – 12% of the cost in construction but only by creating an inferior grade product. At Aansav we are clearly not interested in that game of creating inferior grade products or cutting corners.

Q. What feature do you cherish the most in a living space?

Aatish B: What’s really critical in a living space is the way it’s designed internally, how much light it offers you, how much natural ventilation it offers you and how it’s designed outside. If you look at most developments in South Goa, and I’m specifically talking about South Goa, they have very shabby layouts in terms of how the lobbies are designed. None of the lobbies open out into open spaces, none of the lobbies will be ventilated - naturally ventilated - so you end up with these musty, depressing lobbies. As a result, you may have a great house with the best view but the design outside your house leaves much to be desired. Or it could be the other way around. Either ways it’s a problem. I think spaces need to be designed thoughtfully internally and externally. And that’s where we call our products smart spaces because we have designed these spaces, not only to work as an internal unit or a single unit but also to work together as the entire development.

Q. Where do you see the future of housing in Goa heading?

Aatish B: Well, the future of housing in Goa is hopefully, fingers crossed, going to change drastically. I anticipate seeing a lot more recreational spaces, better grade of finish, more landscaping, more greenery, better quality of design and better design aesthetics. That hopefully is the future of housing. As far as pricing is concerned, it almost is certain that pricing cannot go any more south from here because whatever corrections we had to see, we have already seen. So I do not see pricing change much. Obviously the natural appreciation that is there is going to continue and that’s where I see the future.