Goacrazy56

No you haven't read it wrong J5
This is how Acron set up the agreements with the buyer.If I had this sort of lease I would be over the moon.Owning deeds wouldn't bother me one bit.To know that I wasn't going to get turfed out after 5 years and could sell back what I have had enough or am to old or feeble to make the trip to Goa would suit me fine.
It would the answer to all my problems.Acron are the only builder I know that have the agreements set up like this
If the Government changed the law so all FN could do this and put pressure on the builders to do this I would very happy
My builder as us on a 5 yr lease and isn't going to re-new for any FN so we are in big trouble after the lease runs out,we have no where to go.A houseful of furniture and all the mod cons put in by us.We stand to loose thousands as do aother on our complex:curse::curse::curse::curse::curse:

NellyJ

Hi Johnny,
As far as i know, all Acron Contracts are the same - new and old.
Although if the law changed now I don't know if existing contracts would be affected - maybe they would?
I was struggling at first to realise why everyone was worried about not getting the freehold if Leases were guaranteed renewable - but then I hadn't realised that not everybody had the same kind of contract or was in the same situation. - or maybe i'm the simple one here! (probably!)

noni

Hi Nelly,
Do you have to pay to have the lease renewed?

NellyJ

I don't think so Noni. Not from looking at the wording of the contract. It doesn't mention payment. There would be a charge for transferring the Lease i am sure, but I don't know how much that is. When I go out and take possession in a couple of weeks I will ask the question.

johnny five

I am amazed!

So are they still selling on this basis?

Maybe I should contact those "saddo's" that were on here last Autumn who had bought at Villa Maria in Siolim and wanted to get involved in all the activities and organisations in Siolim village (you know, W.I., Tory Party, PTA, etc).
They must be fed up and wanting to sell by now and it might be nice to have a posh bolt-hole on the other side of the hill, even though the entire approach from Siolim, hundreds of yards, is thick with garbage now! Nothing to do with Acron though.

Seriously though, this sounds great.

NellyJ

That's the only worry Johnny, sounds too good to be true! That's why I stay a bit sceptical! Also, I'm not sure how easy in reality it would be to sell.
I believe Acron have acted in the past and sold flats on the lessees behalf (when people have signed up and then not been able to utilise them for one reason or another).

noni

Good Luck to you Nelly - enjoy it while you can.

powerhouse

We have a property from Acron on a 5 year lease and as Nelly say's the wording does say that the lease will renew every 5 years, Our five years is up next January and we fully expect it to roll over. However not everyone with Acron is on a lease, on our development there are at least 2 properties owned by FN who have the freehold, I don't know if either of them is being investigated. At the moment I an just glad to be on a lease. Who knows what will happen in the future.

a_f_d

I've posted about this a few times - it does appear that a contract to renew a lease is binding in Indian law, but as I pointed out, this appears to conflict with FEMA if the purchaser is a FN - so I suggest you would want the opinion of a very senior lawyer before entering into an agreement based on that. otoh Acron have an excellent reputation, and I see no reason to suppose they won't honour their agreements.
btw I don't think all Acron purchasers are on lease - their agreement allows you to get the deeds when you are in a position to do so.

AndyD 8-)#

Honey Bee

What is otoh?

emsirrah

otoh - On The Other Hand

there are lots of internet slang sites for lazy typers.

www.noslang.com/dictionary.php is one of many

noni

Well for God's sake type it, it takes ages to connect from your mobile looking up geeky language.

powerhouse

We had a brief meeting with Acron during our recent visit to discuss our 58 month lease which expires at the end of the Year. According to them the renewal process is very simple and can be compleated is a couple of days. All we have to do is make a appointment with their advocate in Callangute and he will take care of everything. Sounds too simple, I will let everyone know what actually happens.

noni

Hi All on Acron site.

Please will you sign the petition Andy has organized to be sent to
Gordon Brown!!!!! with regard to property purchase in Goa. It affects us all, we have to have 500 signatures by 17th July.

Thanks http://petitions.number10.gov.uk/goahomes/

cbc

Hello

Is there any one out there who has sold a Acron property?
I'm thinking about selling and need any info on how you go about it?
Also how you get your money out of India?

Many Thanks

Julie