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GTDC to develop six properties in JV, estimating earnings of 22,000 crores in 25 years

GTDC Hotels Image for Representational purpose only

According to the available report around thirty-two private sector companies have shown the interest in development the six GTDC owned properties in Goa and it is likely that Goa Tourism Development Corporation (GTDC) may finalize the deal by the end of this month. The six properties include the Britona, Anjuna, Colva, Farmagudi, Kesarval and Mayem. GTDC has many properties in Goa out of which some are already handed over to the private stakeholders in either joint venture or on contract basis, one such property is the Dudhsagar Resorts which is presently run by the Sanda Hotels Pvt. Ltd., who also owns the famous Baywatch Resorts in south Goa.

Out of the total number of offers received by the GTDC, six companies are interested in developing the Britona property while 15 applications are received for Anjuna property, three companies for Colva, two companies for Farmagudi, Two for Kesarval and four for Mayem. According to the sources GTDC chairman told the media that all the properties will be developed under the joint venture, government has also reduced the EMD (Earnest Money Deposit) from 75 lakh to 30 lakh for the projects at Farmagudi, Kesarval and Mayem.

The sources also revealed that GTDC has proposed to develop a five-star boutique hotels in Colva while Mayem will be developed into the Theme Park and a five-star hotel. The estimated revenue earnings are expected to be rupees 4,500 crores over the period of 25 years.

The Farmagudi property will be converted into world class exhibition centre which will create 50 direct jobs as well as numerous indirect job opportunities such as food suppliers, taxi operators and event managers and estimated revenue is expected to be around 4,500 crores in 25 years.

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The Britona property where GTDC has huge portion of land and which is touching the Mandovi river will be converted into five star hotels and Marina with a Yacht club and the estimated cumulative revenue for 25 years will be 6,500 crore.

The Anjuna property will be turned into wedding destination as well as five-star hotel and this project is expected to generate the revenue of 4,600 crores in 25 years. And at the Kesarval property, it wants to build a corporate outbound and five-star hotel with an expectation to earn 2,000 crore revenue in 25 years.

So if you look at the figures here its total estimation goes to around 22,000 crores in 25 years which means 880 crores per year and 74 crores per month. That’s a very good projected figure which will bring the huge revenue to the state-owned corporation. Please do leave your valuable comments and suggestions on this issue.

Source: Various Sources

Edited by Goa Prism News Desk  

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