Yes. I recently stayed at Calangute beach and a taxi driver took me to Old Goa and Panjim for 1400 rupees. This price is from a government table and is used by all the taxi drivers. If Panjim was not involved the ride would have cost around 1000 rupees. If you negotiate you can get it cheaper than the table price. 

I don't remember exactly how long the journey took, but it was certainly not more than 90 minutes.