Goacrazy56

I heard from an Acronite that they Issue a 30 year lease but I don't know how they do this as we all know you cannot lease for more than 5 years,unless they have some sort of rolling lease,I just don't know.
But It isn't Freehold that I do know.Just becareful please!!! there are enough of us on this Forum that have had our fingers burn't thinking we were purchasing with freehold only to learn that we have paid for free hold, registration, everything and can't register the property because an FN cannot puchase or own property in Goa:curse::curse::curse:

Gruber

30 Year Rolling Lease? Hmmm. So after 30 Years you have give the property back??? So nothing to pass on to your children? Also what's to stop them not renewing after five years? Anyway I thought you could only lease for 5 years as a foreign national. This kind of 'workaround' just wrongly raises hopes in my opinion. And if the law says you can only lease for 5 years what's to stop them not renewing at the end of 5???

Goacrazy56

Exactly what we are saying,read my post you can only lease for 5 years according to Indian law,there would be nothing stopping them refusing to re-new your lease after 5 years.I am not saying they wouldn't.Who knows????
Take our case we are on a lease for 5 years,Our builder has confirmed now in writing he will give us our deeds if we could register the property (WE CANNOT REGISTER AS,THE REGISTRY IS CLOSED TO FNs)
I really don't know if he will re-new after the 5 years are up,so we are left with this un-certainty who knows?
It's in the lap of the Gods:curse::curse::curse:

Gruber

Thanks so much. Just a general point - what about those that bought years ago. Are they ok? I can understand that if someone acquires an Indian Passport they would be able to buy (but would have to relinquish their british one - not sure I would want to do that!!!) but what about people that are on Visas?

Please forgive me if these questions are answered on other threads but what is the status of someone that bought 5 years ago and got everything registered?

Daff

Hi Gruber,
The situation is very complicated for FNs on visas in general. Of those who bought several year ago and have been able to register their deeds a considerable number are under investigation although the 'investigation' has been going on for some time. They may be able to sell up then again they may not. They may have their properties confiscated and then they may not. The situation varies by the week.
Of those of us that have 'bought' in recent years (2006 +) we are unable to register our deeds and are considered to either have purchased illegally or be under a 5 year lease at freehold prices. This varies from builder and development depending on how honest the builder is and whether they give you your deeds or not.
THIS IS WHY WE ARE ALL BANGING ON ABOUT NOT BUYING IN GOA IF YOU ARE AN FN. THEY WILL TAKE YOUR MONEY MOST LIKELY BUT YOU WILL NEVER OWN ANYTHING!!:curse::curse::curse::curse:

Gruber

Thank you. Sounds pretty pointless trying to buy unless you are an NRI or PIO. It is so important you stay within the letter of the law. I wouldn't dream of doing anything other than that in the UK so why would you risk it abroad when you have even less of a chance of legal redress. Suppose it comes down to letting your heart rule your head and looking for assurance in the wrong place.
What I just don't get how it has suddenly all changed. Where has all the resentment come from that is so obviously driving this?

Goacrazy56

This is a far to sensitive subject for you to be asking any of us to answer when it as all been answered before on other threads.It would just rake up and open old wounds.You say you wouldn't dream of buying,this is what we are trying to stop by posting on the forum and anywhere we can to stop newbie's like you from loosing your money.Now suppose you had never read this thread or any bad publicity regarding the property scams in Goa.Can you honestly say you wouldn't of listened to your advocate, builder and agent her in Britain telling you everything was okay and perfectly legal and then refused to buy.l don't think so.You have had a lucky escape.Im sorry this site wasn't around when I purchased my property.
I will add that most people on this site have purchased and complied with FEMA but we still cannot register.It is all to do with the interpretation of the FEMA act:curse::curse::curse::curse::curse:

Gruber

Sorry if I've reopened old wounds. And thanks for your response. They've been a great help. I guess I'm just having difficulty understanding what's driving the Indian authorities all of sudden and after all these years. I'll leave it there. Thanks again.

noni

Hi Gruber,

No Advocate in Goa tells you the same story - it is a minefield. Just rent and keep your money in your pocket. And if you read the Chris Gregory thread you will see an UK agent for a site has allegedly run off with clients monies and they have no hope of seeing their money. Acron build beautiful properties but unless you are a PIO don't buy, and to-day http:www.goanvoice.org.uk you will see that show cases are been ordered against people.

Gruber

There may be a glimmer of hope. My maternal grandmother is Indian. But to look at me you would never think I had any Indian heritage, father is English, grandma married an italian. Did a bit of research and looks like on paper I fall into the PIO category. Long shot but don't know how hard it is, or even if I qualify given it's such a tenuous link.
Anyone know how hard it is to get a PIO card?

a_f_d

Indian aquaintances tell me it's difficult. Despite what the rules say the HCI insist on seeing an Indian passport - even from recent migrants who are required to hand their Indian passports over to the HCI when they get British ones.

otoh I've also heard it's a bit easier in Delhi (especially if you've got a friend who knows the ropes).

AndyD 8-)#

NellyJ

Hi everybody....i'm new to the Forum.
Anyone due to 'take possession' of a flat in Villa Eva?
Just wondering how you are feeling about all the problems with buying the Leasehold, particularly re some of the questions posed about no guarantee of the 5 year lease being renewed in the future?

Honey Bee

Unfortunately if you are taking possession you are like the rest of us in the lap of the Gods. Please read Buyer Beware

NellyJ

Thanks HoneyBee
I have been reading up on 'Buyer Beware', it's just interesting that some people are happy to continue with their Lease so I just wondered if any answers had been given to anybody.
I was made aware of the Leasehold/Freehold problem from the onset, although I did think it would have been sorted by the time it came to taking possession.
Has anybody asked for a refund prior to signing? I read on one website last year that a few people had been reimbursed, minus a few hundred pounds for admin fees.

Honey Bee

Unfortunately there is no answer at the moment there is no such thing as a rolling lease, it will be up to the builder, Some unscrupulous builders have already now told their buyers that when the term is up they will not be renewing. Somepeople were lucky enough to get their money refunded one was down the South and the other Apora way. and Regal Builders offered all their clients refunds when it was discovered the change in the so called law and they could not register their deeds now they will only now deal with PIO's
From what I have heard I would rather be an Acron client at this moment than with any other company if I was a FN purchasing.
If the you have paid for it, just enjoy your villa and keep everything crossed.
If not try and get your money back and RENT Good luck.