Worried in case you had had a heart attack when postman brought your cheque.
Noni

Douglas sez the cheque will come.

It makes sense to pay out the first few detractors, that way the majority of investors are reassured.

However, the put option will definitely be withdrawn if the dam bursts, or if the goan property market turns.

Unavailable, just when you need it most.

regards to all

douglas

Robbing Peter to pay Paul it's the way they all work, a run of cancellations and POP it all gets gone. Bought out of liquidation by another shell company. Who will then do exactly the same.
Regards
Tony

I just hope my money comes back.

It's been about 6 weeks now,is this normal for Indian business Douglas.

Maybe I need to retune my time scales ???

Love to all in the forum


Keith

Hi keith,

Absolutely, work on a factor of about 7t to 1, a bit like dog years.

So youve been waiting less than a week in goan eyes.

Just dont tell them you know douglas and you should be ok.

regards

douglas

Indian Time
Dog years- 7 to 1

Good one, will remember this for future ref.

Cheers,
Remy

Thanks for the advice folks.

So about 42 weeks then ???

Hi Keith/All, i only just recently came across the mine of useful information under the last few months of the 'Acron' topic threads and have found it very interesting & thought provoking. I actually checked it out last January, (when i first found out that i couldn't get the freehold as planned for my flat, after i'd paid the final installment), however at that point i couldn't find any relevant info on here so sort of forgot about it till Noni kindly recomended it from IM (+ Remy & Douglas) so thanks very much again for that.

Anyway i have a query: Shortly after finding out that i could no longer get the freehold to my flat, & after alot of mental anguish (due to the gravity of possibly losing my life savings, and having most of my posessions stuck in storage in Delhi & Goa in limbo etc), i emailed the developer (not Acron unfortunately) who i 'bought' off & (like you) requested my money back. The only response i had though from the developer ignored addressing my request but just asked me to send over a copy of my residential permit, so they could try the registry office again,(which i did) then surprise surprise i never heard anything again!

However when i then asked my Goan lawyers advice about the best way forward, he told me that he thought that the developer may not be willing/able to give me my money back, and that furthermore, repatriatiation is extremely difficult through the bank, although he said there maybe other ways to repatriate funds for this purpose, but didn't go into what they might be.

So i am really just wondering how Acron can get round this problem of repatriating your refund Keith (incase i also try again to get my money back when i return to India)?

Also incase my developer refuses to give me my money back (which may well be the case since they ignored my written request), my plan B is to go the rolling 5 year Lease route, but it will have to be on my terms (i'll pack it with water tight clauses and then pray the devloper signs on the dotted line)! However, i'm not entirely happy with the draft lease agreement i got my lawyer to draft for me, and as i believe that Acron has alot more integrity than certain other developers i know, i'd be REALLY really grateful if any of you who have bought through Acron could please either PM me or copy & paste a sample copy on this site (with all names edited out) of the 5 year rolling lease agreement that Acron provides to its clients, or atleast the key clauses they uses (which offer the buyer/Lesee maximum protection).

I know this is a big favour and i'm sorry to ask, but as i have no legal background, i just feel that if i could refer to their Lease Agreement then it might help me to compose my own Lease (by using the most relevant clauses from my current draft lease and Acron's at least as a basis for drafting my own lease).

Anyway i look forward to any useful feedback on this and Many Thanks in advance, & All the Best - TDK

"The property is to be sold as freehold property, and sale would include registering of Sale Deeds.

Please Note:

In case of foreign Clients, (not N.R.I.) prior permission from the Reserve Bank of India, is a pre-requisite. In these cases, primary Agreements for Sale are executed, and Sale Deed/s are registered later, pending the approval ‘to purchase’ from the R.B.I. "

Found the above on ionafernandes.com, a builder in Goa. Exactly what Douglas is saying?

Hi TDK,

Dont wish to be patronising , but you are still on the wrong track with your lease idea.

The purpose of developers agreements is to give the FN minimum protection and the developer maximum protection.

regards]
douglas

Hi Folks,

Please all of you must read the following:

http://www.rbi.org.in/Scripts/FAQView.aspx?Id=33

Please pay attention to Q6

Q.6. Can a foreign national of non-indian origin resident outside India purchase immovable property in India?

A.6. No. A foreign national of non-indian origin, resident outside India cannot purchase any immovable property in India. But he/she may take residential accomodation on lease provided the period of lease does not exceed five years. In such cases there is no requirement of takling any permission of or reporting to Reserve Bank.


OK now please note it does say "provided the period of lease does not exceed 5 years"
What happens if these 5 year leases cannot be renewed.
Already the Builders and Developers are reluctant to refund monies payed.
Its written in black and white folks read the above link for yourselves.
Your all being conned. Charged full price for property you will never own.
Im going over old ground here but its a very expensive rental agreement that your all being sold.
Also a lot of Indian Property Developers and Estate Agents are now stating on their websites NRIs and Pios only.
I wonder why?

Regards,
Remy

Hi Remy,

Sock it to em. I have done a lot of work on the subject of leases and roll over ( or lack of it) in previous posts.

Funy how most FNs dont seem to know what "No" means.

Perpetual leases dont exist for FNs, except in the minds of the deluded and misinformed .

kind regards
douglas

Douglas - We know it does not concern us now, but in our Agreement of Sale, nothing was mentioned about a lease or a time limit to obtain our Deed of Sale? Where would others stand in this case? who have not been able to register for various reasons.
We know of (wait for it - for you to explode) a person who has sold (well had the money - so in his case he is laughing) and given the "purchaser" a 99 year lease.

Whoops! heads down
TP

Hi Tony - You can see we are having terrible weather to-day and I can't go out into the garden, so I need to "activate" my brain.
Perhaps Douglas is having his evening meal or nap.
Anyway I am just curious