Hi rosemary, had a great time weather was hot, beer was cold, what more can you ask for.
We are off to Lock Lomond this weekend for a couple of night (wedding anniversary), but the weather forecast not looking to good, said it could snow.

well I'm off now so take care and if you don't hear from me for a while its because I'm hiding in the cupboard, frightened to come out and explain myself

Sue

Hi Sue thanks for your response,

You quite right you dont have to explain yourself to me and as you say its your money.

This is not a personal attack, Im not challenging your opinion, its your conclusion thats the problem.

If youve been fed misinformation, and dont understand its misinformation or dont challenge it, the myth is perpetuated . If you then post misinformation on a public domain, what do you expect will happen ? Someone will invariably challenge it.

There are newbies coming on to this site looking for information, we all have a duty of care to ensure they receive a correct and balanced view.

I do spend a lot of time in front of the screen as im a professional investor
( now retired but still active) and i find this issue a welcome distraction so i flick across to the site.

Please look further into the points i have raised with you , im not trying to score points, theyre important to you , all Acronites ( who are in exactly the same position as all the other foreign nationals) and newbies.

Keep in touch

Douglas

Hi Karlq
You get some people like that, nothing much better to do i suppose but if it keeps them happy, let them get on with it

Sue

Hi Chandu had a great time, lots to read up on when we got back. Did you get a email from Acron? I will email both Rosemary and yourself and we can have a chat, take care Sue

Hi again cornishboy,

Nice to have you back on the logic trail, i thought wed lost you to the flat earth society clique who sometimes inhabit this site.

In answer to your questions,when I left via Mumbai airport i handed in my residents permit to an indian immigration officer. The permit had been endorsed with an exclusion clause, under sectionxxx etc.

I asked the officer if i was considered undesirable and if i was blacklisted and he replied yes. My wife , i think quite rightly, afterwards concluded that i phrased the question in a leading manner and he may not have given us the correct answer. So maybe we could have subsequently obtained a tourist visa from london.

However it is counter intuitive for them to find it acceptable that we should go back to uk, obtain a tourist visa and then return and live in the same house. It effectively defeats their exclusion.

In addition, we were full timers, it was our only home , we were clearly not wanted in goa, and as we wouldnt want to stay where we werent wanted so we left. Also to return would simply have delayed the establishment of our new home.

I dont think they have actualy completed any investigations yet, ive heard nothing myself but presumably my file is somewhere in the pipeline. At the end of it all im reasonably confident that ill keep the freehold, but im prepared for something worse.

If passed clean, then i have to find a buyer and apply direct to RBI for permission to sell , it could take years.

Theyre excluding brits independently of the investigation, if your visa comes up for renewal your are out , so i cant see them saying its ok to come back in douglas after they have dealt with my file. If that was their game, why not wait for the investigation to be completed and then select the offenders for expulsion instead of blanket expulsion.

Regarding selling your lease, you need to read the agrement, does it have a clause in it giving you the right to transfer the lease? If not your in the hands of the developer, as you are throughout until you register the freehold. If you dont have a registered freehold you dont have control, thats why any developers agreement is not worth a light.

In addition, it doesnt really matter to much what your agreeement says. If your developer moves against you for whatever reason, you are effectively powerless , the legal system is both corrupt and dysfunctional.

Dont spend any more time on it, you dont have to and then i can move on to helping someone else.

I spent some time in the west country in my youth, nice spot.


Regards Douglas

What I'm really trying to do is to find answers to certain questions that I and other people have raised to help ME make my mind up wether to buy (lease) or not.
I could never be a freeholder as Goa would never be my only home.

My current questions are open to anyone who can answer please:

Does the developer (freeholder) market the property in the event of a resale?
What about conflict of intrests i.e he could be trying to sell his new builds first.

What comissions would be paid, if any.

If the property was sold can the "original" sale price be legally transfered out of India bearing in mind that it was on a lease ?

Hi Chandu I hope you and Raziya are well.
To be honest I really don`t know. From the beginning we took a great risk in buying a property unseen on the internet we took what precautions were available met with John Britto at Manchester spoke to a couple of people who had already bought from them and then with the price being what it was ploughed ahead. I guess if I had read all this before buying we wouldn`t have purchased.
We have never planned to sell up and live in Goa anyway we have a home and family here. So not being able to stay longer than 6 months dosen`t worry me but of cause that then leads on to the other questions re the 5 years lease. We like others spoke to Brits living and owning properties during our last visit in January and no one seemed worried by anything out there which seems odd to me, so at the moment we have emailed Acron as I expect many others have and are waiting on their reply.
So for now we are still tile pickers.

Glad you had a good holiday Sue we also recieved an email from Acron guess it`s the same one.
Regards Rose and Mick.

Hi all

I've just received a confirmation from Dr Britto that I can expect a refund of my monies.

I'm very very sad about this but I cannot see any way that I can be a resident in Goa at the moment.

After all the highs and visits,photos etc,it's really hard to accept,but they are the government and they are perfectly entitled to call the shots..

My very best thanks to Douglas M and Leavinggoa for their honest and frank revelations,much,much appreciated....

It is a tribute to Acron that they are prepared to do this,maybe others would not be so amenable.....

I still intend to spend as much time as I can in Goa,but as a rentee now,whilst keeping a watching brief on the political climate.



Not quite signing off !


Keith Rogers

Douglas..

I've seen interest rates of up to 12% in Goa on savings.

Can I as a 180 day tourist open an account and benefit from these rates???

Getting funds out may be a problem maybe ????


What's your opinion please sir ??

Kind Regards


Keith Rogers

Hi Keith,

Cant really help you on this one as i was resident and had a residents bank acc.. You can get a 6 month tourist account on arrival, but i dont think the rates are impressive.

With regard to inward remittance, Ive got a feeling you can bring in 5k sterling or maybe its USD per person. You should declare it at customs or immigration and get a certificate for it.

We had trouble getting our money out of the account when we told them we were no longer going to be resident. But because they knew us well, they bent the rules and gave it to us.

kind regards

Well another day of should I or shouldn't I.
But now having gathered as many facts or otherwise, I think its a case of gut feelings trust and very much your own personal situation.
I think us Acronites might be in a slightly different situation to the one Douglas M found himself in.
Again I can only speak for myself in this matter but in all my dealings with Acron I have found them to be very open, honest and helpful but the cold facts are, in this current situation I don't think anyone will be allowed to gain the freehold of their property.
This doesn't bother me personally as it never was my intention to try to become a Goan, so I'm quite happy to go down the route that many Acronites have gone before and remain a leasee.
To a financial man I guess this doesn't make sense, buying a very expensive car doesn't make sense to me but people do it. Besides who knows we might even make some money if we decided to sell in a few years.
I want a place that I can make a "home" that I and friends can use as and when we want on our six month visa's of course.
I personally don't think Acron would do anything underhanded as I believe them to be honest.
So, it isn't costing a vast fortune it fulfills my dream and since I'm only on this planet once and for who knows how long, I'm sure I can enjoy many happy days in Goa before the "mobs" get round to knocking on my door and again who knows once this current investigation is over and they sort out the rule benders, freehold might become an option again, Good luck all.

Hi Keith & Douglas

Just back from Goa, no more update for you Douglas, I'm afraid.

With regard to the bank and interest, you need to be resident to benefit from from the high interest, I actually asked in the bank last week and I am afraid that we non-residents get 3%. I think you are right Douglas, regarding the £5,000.

Regards

Hi all,

Cornishboy has made his decision, so has keith, they will both feel better now.

Maybe, its time to take stock.

Some of you will have been disturbed by the posts of yours truly and others and will have rushed off to do the research you should have done in the first place and thats a good thing too.

Others remain in various stages of denial, thats not so good.

Douglas has said most of the things that need to be said, (some will say thats the best thing thats happened so far, others will be more generous) .

Douglas's main interest has always been the psychology of investment and he will continue to observe here and elsewhere, as the perennial student that he is.That sounds like a good thing too.

Were all 21st century creatures with selective intelligence, living in stone age bodies and driven by the primeval instincts of fear of loss and the need to gain

You can watch these basic instincts manifest themselves on this site every day.

The secret is to be able to spot them in others, understand them when they call on you and override them when necessary.

Regards to all

Douglas

Hi Kinrara,

Thanks for the update

Regards

Douglas

Hi Douglas and Cornishboy,Kinrara and all the followers/contributors to this web thread.

Yes,I have had confirmation that my monies will be refunded by Dr Britto,the necessary paperwork is en route to me as I write this.

Luckily it has only cost me £300.00,quite a result I feel under the circumstances.

If the exchange rate keeps declining,I may be even less worse off!!!

Thanks for your reply Kinrara re:interest rates,I should have known that it would be for residents only... How remiss if me to think that we tourists would be treated well !!!!!

Bye for now


I'll keep you in the loop on progress with the refund


Best Wishes to you all and thanks again Douglas


Keith Rogers