Loutolim sports project gets investment zone tag

Panaji: The directorate of industries, trade and commerce issued a proclamation declaring 25,000 sq m of land at Loutolim, Salcete, as an investment promotion area for a cricket academy and a sports arena.

The proclamation followed the Goa Investment Promotion Board’s move to grant in-principle approval for the Rs 65-crore project, which is backed by Chicalim Sarpanch Kamlaprasad Yadav.


Yadav, through his company Venture Building Dreams Pvt Ltd, proposed building a sports complex that he claimed will generate employment for 950 individuals.

The in-principle approval was granted in mid-2025.

The sports facility is coming up on two land parcels consisting of a 5,800 sq m plot and a 19,200 sq m plot in Loutolim.

Objections to the declaration of an investment promotion area can be submitted in writing to the Director of Industries, Trade and Commerce, Panaji, within 30 days, the department’s notification said.

Govt decided to go ahead with the project despite the Loutolim gram sabha adopting a unanimous resolution demanding revocation of the in-principle nod granted by the investment promotion board for the cricket academy.

Yadav’s sports area will include villas, a hotel, an academy block, a spectator gallery, a pavilion, a museum, and a clubhouse.

Once notified as an investment promotion zone, Goa Investment Promotion Board will assume powers related to building permissions, tax collection, and other regulatory matters for the designated area.

The Loutolim village panchayat will not have jurisdiction over the permissions for the project.

This Sept, the industries department also declared over 13,000 sq m of privately owned land at Loutolim as an Investment Promotion Area (IPA) for Express Machines & Scaffolding Pvt Ltd. Express Machines & Scaffolding is a warehouse operator.