Goa Housing Board to Team Up With Private Builders
Goa Housing Board (GHB) intends to develop 60,700 sqm of land in North Goa through a joint partnership with reputed national or international builders. To ensure it gets maximum bang for its buck, the board is looking for a property consultant to develop a viable business model and conduct a market study on Goa’s estate sector.
The land at Colvale, Tivim, Curca and Penha de Franca is already with GHB and the state is open to the idea of residential and commercial projects.
GHB hopes that by appointing a transaction advisor, who will be paid approximately one percent of the project cost, it will be able to maximise revenue and create a self-sustaining business model.
The consultant will provide transaction advisory services for selection of a private developer, conduct a market study, carry out site analysis and identify infrastructure facilities. The consultant will also have to develop financial models, including the possible revenue stream for each project. The possibility of creating a special purpose vehicle for joint development of the four projects also remains on the table, but a final decision will be taken after evaluating the pros and cons for GHB and the developer.
GHB has already floated a tender to pick the transaction advisor, who will join the already empanelled consultants that the board has. The transaction advisor will have to conduct the bid process to pick private developers and will remain on board till the joint partnership between GHB and the builder is inked.