First Goa development
 

Have any of you come across this development http://www.firstgoa.co.uk
Reading their info makes buying sound like a walk in park!
GH

Re: First Goa development
 

Sounds like timeshare or one of those holiday clubs.

Re: First Goa development
 

Hi

Have lost the will to live to even get into this. Suggest you check any thread with "douglas" on it and trace his investigations. Believe them all and you will be saying good bye to Goa before you start. Listen and learn though, and if nothing else you will read some rib tickling stories.:thumbup:

Re: First Goa development
 

HOLIDAY CLUB TIMESHARE

BE CAREFUL. READ AND LEARN FROM OUR MISTAKES.

Re: First Goa development
 

In England walking in the Park leads to dog muck on your shoe, or being accosted by drunks and beggars or not being able to walk on the grass, so I suppose it is like trying to buy property in Goa, you end up in the c**p or your intimidated by unsavoury characters or you're just not wanted on that precious piece of land. It all amounts to the same thing, be careful where you tread and in future don't go where you are not allowed or wanted.
Sorry just feeling fed up at the moment.
Regards

Re: First Goa development
 

Hi

I would like to firstly give you all some background. I am a PIO (Person of Indian Origin) living in the UK. I am looking to invest to invest in Goa. I have read some of the horror stories regarding purchasing properties in Goa for the ex pats.

I am basically looking for good advice regarding the Fist Goa development. As far as I can tell it looks like a good investment in terms of buying a property in a 5* Hotel complex.

Does anybody else know anything more about this investment in terms of location, viability etc.

Apologies in advance if this is not the type of post this site was set up for.

Thanks
J

Re: First Goa development
 

Hi J,


Welcome to the forum.

As a PIO you are free to invest in property (other than agricultural land), in Goa. Check the Govt of India regulations.

With regards to the First Goa development however, despite what the developers may tell you, it is extremely unlikely to go ahead for many reasons including the fact that the developers do not yet own the site which it is planned on!!!. I would strongly recommend to you (or anyone else looking at buying in this development) not to part with any money.

Are you looking purely in terms of investment, to let out, or for your own use?

Kind regards

Tom

Re: First Goa development
 

Hi Tom

I was actually looking to use it as an investment to let and occasional holiday use.

How do you know the land has not been purchased and that it is unlikely to go ahead? I would be interested to hear as information related to this development is hard to come by.

Many Thanks
J

Re: First Goa development
 

Good Sound Advice!!!:thumbsup:

Re: First Goa development
 

Thank you Remi! :)

J,

The land on the plateau on which the First Goa project is due to be located has been a contentious issue for many years now.

Over the years, there have been many proposed developments.
In recent times, three separate groups have shown an interest in acquiring the land from its various owners.
The first group are the GIDC - Goa Industrial Development Corporation, a government department who plan on building a food processing factory on the land.
The second group are the Tourism Ministry and the Leela Palace Hotel in Mobor, who wanted to run cable cars from the hotel in Mobor across the sea/river up onto a golf course on the plateau.
The third is the Claremont Group - developers for the First Goa Project.

A compulsory purchase order by the government for the land to be used as a food processing factory went through earlier this year, but to date none of the families who own the land have got paid.
The ownership of the land is now in question. Local opinion is very much against any form of development on the land, and it is a highly sensitive issue.
Irrespective of all of this, even if the Claremont Group could acquire, and get the permissions to build on the land, their proposed plans (which I have seen at least) would not be viable. Under the CRZ regulations in Goa, no new constructions can be within 200m of the shore. The plot runs along the coastline, so most of it would be impossible to construct on without breaking the CRZ Regs.
The green lobby in Goa are extremely powerful, and they have not even got started on this one yet! They have successfully blocked the construction of a proposed golf course on the land since the 1980's!

Over the years, some very powerful figures in Goa have tried to do something with the land. If they have never succeeded, what chance do a bunch of UK developers have?
The developers have been extremely badly advised, and a lot of people can and will suffer as a result.

Hope this answers your question.

Kind regards

Tom

Re: First Goa development
 

:thumbup:
Thanks for that Tom - we need more people like you for the serious side of the forum. Our aim is to stop people parting with the hard earned cash on dubious deals.

We have enough problems of our own, without others loosing out.

Thanks again
Noni

Re: First Goa development
 

Hi Tom

Many thanks for your post it was greatly appreciated and more detail than I expected.

I can't believe that Claremont International and Exclusively India / Hamptons International (who are currently marketing it in the UK) are not aware of these fundamental issues. If the prospective buyer is not able to get a refund this is such a scam.

There must be some law against this especially when it is being openly marketed in the UK???


kind regards
J

Re: First Goa development
 

Hi,

These firms marketing Goan property for purchase in the UK are all marketing
on the grey side of the law - they do not come under the Estate Agents
Misinformation Act. They will tell you when they are in a corner they work for a foreign developer.

FN cannot legally purchase property at the moment in Goa, the Register is closed to FN and you are not allowed to register your Deeds. You cannot get the required Visa.
Then you have people like us who HAVE registered our Deeds, done everything by the book, and are being investigated by the Directorate of
Enforcement.

The system is totally unfair, and the Agents in this country should be called to book, and you try and find an Goan Advocate who knows which way the law is meant to be read in Goa. They don't know themselves.

The people selling these properties in this country should be exposed for the liars they are.:curse:
Read the BUYER BEWARE thread, contact the Agents and see for yourself the lies they tell.

Re: First Goa development
 

Hi Noni

Are you a PIO?

Re: First Goa development
 

Unfortunately not! But you have to be careful whatever you are, white, pink, brown or an alien - the Government?FEMA etc. keep moving the Goal posts. Remy is one.:wub: (a 'noffi alien ) :rofl:

I am mad that these Agents can sell to us FN promising, and say can get your Deeds Registered when the Register is close and to PIO's when the land has problems. From what I have learnt over the last few months on this site, it is a minefield. But too late for me and many of my friends. These Agents really ought to be exposed. I'd put them in Fort Aguada.