The Project
‘Riverdale’ is being developed by ‘West Coast Landbase Pvt. Ltd.’ And ‘West Coast Landbase Construction Pvt. Ltd.’, Wherein land acquired by the companies is being offered as ‘Plots’ for residential and commercial purposes after attaining all required Permissions and conversion of Land use to Non/agriculture. Purchasers can build their independent villas for their own stay or to lease it to hotels coming up within the complex.

Current Status
The project is proposed to be spread over an area of about 100 Acres, comprising of a Boutique Hotel, a small market, Independent Villas, Club House, Lake etc. to be developed in a planned manner.

The Land has abundant Natural Water Sources, and water for consumption is sourced from ‘Wells’ and Natural Springs within the complex.

Out of Total 100 Acres Proposed, 85 acres of land has already been acquired and is duly registered in the name of the Companies.

All the roads, electricity and water development work in Phase/Blocks A & B have been completed. All required permissions from concerned authorities such as Gram Panchayat, MTDC, Town planning department, Forest department, MSEB etc. have been obtained for all phases.

Location
The Project is being developed at the Banks of River ‘Terekhol’, situated at North of GOA. It is located in District Sindhudurg in southern Maharashtra, which is a major thrust area of Maharashtra Tourism Development Corporation (MTDC) to promote Tourism industry. Major hotel chains are coming up in close proximity.

The nearest beach is Querim at a distance of 7 K.M. from the site. ‘Mapusa’ the first City of Goa is about 25 minutes drive from the site. ‘Aroli’ & ‘Shroda’ white sand beaches are 8-10 KM away. ‘Fort Aguada’ and ‘Panjim’ are 40 Minutes drive from the site.

Connectivity
From the site NH-17A is at a distance of 6 K.M. the New Mumbai –Goa Express way is 15 K.M. from site and the nearest Town “Pernem” is mere 8 KM away and ‘Pernem’ railway station is 12 K.M.. Existing Goa Airport ‘Dabolim’ is 1 Hour drive from site, The New International Airport coming up at ‘MOPA’ is at a distance of 21 KM. In addition, a domestic Airport at ‘Chippie’ is at a distance of 25-30 K.M which will be operational by the year 2016.

Other Projects in Vicinity
The ‘Taj Group’ is coming up with a 5 Star Hotel at ‘Aroli’ and the ‘Cidade Group’ has already built a 5 Star Hotel at Shrioda Beach which would open in the coming season. ‘Leading Hotels’ is coming up with a 300 Acre development with PGA standard Golf Course, Villlas and 5 Star Hotel under management of ‘Four Seasons Group’ where work has already started at a distance of 9 K.M. from the site.

The Offer
Non- Agricultural plots with Land use being converted to “Residential/Commercial” in sizes starting from 600 Yards are being offered for sale in a Gated Complex being developed under the name ‘RIVERDALE’. Purchasers can cover up to 33% of the land for Construction and can construct up to 3 storied structure (FAR of 99% of Land).

Recommendation
The new International Airport at MOPA, which will be at a 20 minutes drive from the site, when completed and operational, is bound to increase the land prices in the area and its vicinity. Land at Goa beaches is no longer available and any construction activity at the beach is not permissible. This site is actually in Maharashtra where there are no title deeds and succession issues as in the case of Goa itself where title deeds can be in Portuguese.

Investment in this project is recommended from a capital appreciation point of view when the new airport and Golf Course get operational (as being the only PGA standard Golf Course till Mumbai). All the concerned Government Authorities at Center and State level have given Approvals/Sanctions for the Airport. The Land has already been acquired and Signboards have also been erected. The work is expected to be started at site by mid of 2016 and is stated to be completed by year 2019. The Hon’ble Chief Minister of GOA has said that the MOPA Airport will be ready to take passenger Load of 4.4 Million Passengers annually once gets operational in Year 2019.

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