Goa approves four new resorts for Rs. 1,882 crore

The Indian state of Goa may get four new resorts now that the Goa Investment Promotion Board has cleared proposals for future development. The projects are poised to include three five-star hotels, and combined with other developments could see a total investment of about Rs. 1,882 crore.

“We have cleared total nine different kind of proposals, including five-star hotels, malls, expansion of capacity of Vedanta, entertainment mall and others,” Chief Minister Laxmikant Parsekar told The Hindu, noting that the hospitality sector in Goa is experiencing "stress." 

Among the five-star facilities, Soham Leisure Ventures has proposed setting up a 104-room hotel at Candolim, costing Rs. 185.16 crore. Pehna De France Properties received approval for a five-star hotel at Mallim, near Panaji with an investment of Rs. 127 crore, and the board also approved Goa-based Models Leisure Ventures’ five star hotel with an investment of Rs.105.23 crore.

The GIPB also approved another resort at Sernabhatim in South Goa by Hermitage Builders Private Limited, which should see an investment of Rs.13.50 crore.