noni

Hi, Dicky

You can't leave the sinking ship until we have saved the FN, and sorted out the Goan politicians.
We will be in Goa from end November until around March. Will come over your way wearing our Welsh Rugby Shirts, just hope the team do us justice this year.

Have a good holiday with Mrs. Dicky - I am sure you'll be back on the forum "playing" with Duggie in the near future.

Noni

Remy-Ireland

Hi Dougs,

Done the needful on IM and your posts have another recommendation
just after mine. Looks like there are people sitting up and taking notice at last so

Remy.

Douglas M

Hi Remy,

Thanks again, i will check it out.

douglas

TONY P

Hi Guys and Gals
Just been browsing and came across this http://www.forbes.com/feeds/ap/2007/...ap3793188.html
I found part of it interesting, especially the penultimate paragraph, maybe this explains in part the current state of affairs, please note I said in part.
regards
Tony P

noni

Just found a new article from the Daily Mail.

www.thisismoney.co.uk
Indian buy-to-let boom on the horizon. 4th June.

At least this time a slight warning.

Douglas M

Hi Tony,

like douglas says in previous posts.

The indan view is, control of property price inflation and national security is paramount.

If they trample on a few Fns in the process , so what.

douglas

TONY P

Hi Noni
Well it is more honest, but they will still face problems, tax returns for a start,
will they have to pay the dividends into a local bank account etc.
Caveat emptor as they say
Regards

Remy-Ireland

Hi Dougs,

Check out IM now if you get the chance.
Also TDK was asking have you info on selling property on a lease.
If this has been covered (and im sure it has) do you know the link to it and i will pass it on?

Kind Regards,
Remy

TDK

Hi this is my 1st post on this forum, and i just want to say a Big Thankyou to Douglas M and Remy for the referal from IM's forum.

Douglas i have over the last few days quickely read through all the threads on this topic (Buyer Beware), and i'm very grateful to you and all of the members for sharing your personal experiences of buying property in Goa, as i firmly believe that knowledge is Power!

Also i only just realised that there are also many other Goa related topics on expats site so i will certainly read through those asap. I would love to be able to devote more time to this research but i get little time off work to use library computers so i'd be really grateful if you or someone else on this thread could kindly please let me know the page and topic and date/poster of thread for the information you suggested i look at on this site:re: selling property on a 5 year Lease or with Agreement of Sale only please as i seem to have missed that bit.

Also i read a thread posted by Bluesman on p.4 of 'Buyer Beware' and he said that 5 year leases can't be renewed! I would be very grateful if he or any other members could please substantiate this statement as whilst i feared this may happen, i have been praying that it won't (as i'm one of the unlucky sods who've bought a property off plan, which although now completed, i can't get the freehold in my name (& currently can't even get a leasehold from my developer who has gone off the radar)! Anyway am hoping i will be able to sort that out next time in Goa, as atleast some of my neighbours have done.

Anyway forgive me for rambling and Thanks again for your help - TDK

noni

Hi Tdk

We meet again! When you have time, you will have to read all the current threads on this site, as we seem to grasshopper from one subject to another on every site.

Welcome - this site is addictive.

Remy-Ireland

Hi TDK,
A big big welcome to the forum.
Douglas no doubt will provide the information on selling on lease as soon as he reads your post. In all probability you will have a reply sometime tonight.

To the best of my knowledge this can be done(selling on lease) and is done in Goa regularly but as you dont own the freehold it is actually the Sale Lease Agreement (deeds pending) that you are selling onto others. Obviously this may become harder to do when FNs realise that they cant fulfil the 183 day residency rule to register the property in their name.

Im only scratching the surface here and im sure others like Douglas will be much more informative on the subject.

Once again welcome and Goodluck,

Regards,
Remy.

Remy-Ireland

Hi Noni,
Yes this site is so addictive as is Goa itself.
What is it about it?
By the way there appears to be a wbsite called icelolly.com that appears to be offering good deals to Goa....might be worth a look at.
But i still think you will have to leave it a little closer to planned departure time to great a cracking deal.

Regards,
Remy

TONY P

Hi TDK welcome to our little corner of the www.
I was taught to believe the same as you , knowledge is power, the problem is that in Goa so many people are tapping into the power illegally that around 7pm all the lights go dim and the ovens go cold.
That is to say that having knowledge in India is a bit like knowing how a refrigerator works when you are in the Arctic, handy to know but fairly irrelevant, the rules, laws, conditions etc are all there but, as our potential builder said to us in his last e-mail "rules can be bended" and when you don't know who is bending them or how far they are bended, the knowledge you think you have is about as much use as a handbrake on a canoe.
Douglas is very knowledgeable on this subject and has raised issues and concerns that only someone who has suffered from the application of these rules could possibly fully understand or appreciate, he has altered my perspective and I really thought that I had done my homework.
Still it doesn't alter the fact that I/we want to give it a goa, but we won't be buying, just renting/leasing.
Good luck however it turns out.
Tony P
If we finally get there, Free cakes/buns for all BEs on production of their pseudonyms.

Douglas M

Hi TKD and welcome,

You need to source all Ds posts and poke around in the april timescale for a series of posts and responses to cornishboy on this subject. Quick summary below.

If and when you obtain a 5 year lease, you cant transfer it unless it contains a clause to that effect.

You have no right to renewal, ( otherwise it becomes a perpetual lease) but the freeholder may or may not roll it over at expiry, at his discretion.

You cant sell anything, because you have nothing to sell.

The freeholder (probably the developer ) can transfer or issue a new lease to another FN or other class on your behalf. Or he can sell, gift or mortgage the freehold to a class other than a FN.

The market price for all or part of a 5 year lease is only a fraction of the freehold price you paid.

The situation is even worse if you die.

regards

douglas

Douglas M

Hi all ,

fifth para of above should read.

Or he can sell,gift or mortgage the freehold to a class other than a non resident FN