emsirrah

GC56 - will you please explain how you get the £3,000 out.
i.e. It we do get a sale then it is in rupees - is this then put in your bank account and transferred to UK £3,000 at a time or is it changed to UK£'s and you can walk out with it in a bag?
May sound a daft question to some but I know nothing about how to get the money back to the UK and my neighbour asked me about this the other day and I could not tell him anything.
(Not saying we are having a sale but have wondered about this)

I do know people who have sold (before this fiasco) and swapped the rupees for a UK cheque with friends who were living here and someone a couple of weeks ago was "selling" rupees on the beach but wondered what the legal (do they use that word here) way.

hemingway

Douglas doesn't post on this site any more - or hasn't for several months now (more's the pity). Your builder should be able to return the money as the reason the money was sent is not allowed (i.e purchase of a property by a foreign national - the builder will have had to complete an FIRC when the money went in to India.

If your builder will return it, depending on when you sent it vs exchange rates, you could end up losing money due to the fluctuations in the Rupee vs the pound sterling & vice versa.

Regards

Hemingway

babu1

http://www.oheraldo.in/pagedetails.asp?nid=17233&cid=2



Bill introduced to restrict land sale
HERALD REPORTER

PANJIM, FEB 13
Rajya Sabha member of Parliament Shantaram Naik, introduced a private members constitutional amendment bill on Friday in the Rajya Sabha to enable State legislatures to frame laws restricting transfer of land and other immoveable properties on such grounds as duration of residence, social and economic needs of the State, environment and public interest as may be specified by the State.The MP’s proposed amendment seeks to add item 18-A after item 18 in the State list of the Constitution .......

© M/s Herald Publications Pvt Ltd, P.O.Box 160, Rua San Tome, Panjim-Goa 403001

I warned some time ago about the intentions of Mr Naik in New Delhi. It is now apparent that he is fully launched on a path which, if voted through and given the token signature of the President of India, will in effect give Goa "Special Status" (though by a circuitous route) regards land and immovable property transfers.

This is exceedingly worrying for any foreigner who owns property in Goa (whether by Agreement of Sale, or Registered Deed of Sale). It is not clear whether the proposed amendment to the Constitution of India is intended to also be retrospective in action. No matter, it will certainly give the State Government of Goa a totally free hand to do as it likes regards refusal to register and invest them with legitimised legal powers of investigation leading no doubt to confiscation.

We can only hope that the proposed Bill does not pass as an amendment to the Constitution. More proactively, it is still not too late to bombard your MP's, High Commission at Delhi, at London, the UK media, etc with your personal fears, stress, complaint and outrage.

This is a diplomatic issue which should be raised at the highest level.

They have steadily made it almost impossible to meet the criteria for residence (through their tinkering with the visa system); they have acted illegally by unilaterally voting to amend the Registration Act and instructing Sub Registrars to refuse registration of purchase or sale; they have brought in a redefinition of the always ambiguous term in FEMA,"uncertain period"; now they are seeking Parliamentary endorsement by Central Government to empower the State Government to frame its own legislation restricting transfer of property.

The State Government of Goa will be able to pick holes in and find "irregularities" in doubtless all cases of Foreign National's purchase (that is their evident intention). And "public interest" in Goa can mean anything when voiced by it's Government (even if there is never any genuine interest in the "public", only bank interest accruing in the offshore accounts and hidden assets of the very thieves who hold office in Goa.)

IMHO, the framework for the final chapter in the multi million pound property theft of Foreign Exchange from Foreign Nationals in Goa (mainly by Goans) is being set firmly in place, and it is an international scandal.

You can't legally register, you can't sell up, and you can't meet the requirements of law as only recently interpreted to reside here.

And the question still remains: Why are they doing this to us?

Return of Santan

In relation to Babu1 very worrying post and the violation of Human Rights this if passed would cause,please find details of the Central Indian gov, the Presidents email and the Prime Ministers email addresses !

(Perhaps when you write a cc is sent to Miliband and G Brown ?)



www.goidirectory.nic.in/

[email protected]

[email protected]

hemingway

This whole :curse: situation absolutely makes my :curse: boil it really does - then we've got that corrupt ar**wipe of an MP - Keith Vaz coming out with :curse: garbage like this:

Keith Vaz, Britain's senior Asian MP, warned that renewed protests against foreign workers could set off a protectionist spiral and racism against Indian skilled workers in Britain… “At the moment the protests are against European Union nationals working in Britain perfectly legally. My worry is that people can try and stop the legal immigration of skilled workers from the sub-continent," Vaz said… "We need to be very clear that we are open for business in a globalised world" Vaz added.

It's just :curse: unbelievable - all I can say is, for certain people it's a good job I'm not in charge because I really do believe in 'an eye for an eye' & the old adage of 'two wrongs don't make a right' - maybe not, but they don't half make you feel better!

Rant over - I'm off to calm down or have a drink. . . . . . or both!

Regards

Hemingway

Goacrazy56

Legally you can change £3000 on the street at any money changers and bring the £3000 through customs.I have heard of people who have got more out but I really wouldn't try it. £3000 is the legal limit.So if you are talking a house sale it could mean several trips.However if you have your FRIC certifcates for each transaction you made.The bank can transfer the money the money into your British account.Im open to any one telling me Im wrong but I have been told this by my bank Manager and accountant

a_f_d

Foreign Inward Remittance Certificate

- if you sent the money to your own bank account in India they should issue these for you.
If you sent it direct to the builder then his account will show it as an inward foreign remittance and his bank should be able to remit it back to you no problem (return of deposit / earnest money / etc is a valid reason as per RBI). At the very least the builder should give you FIRC's from his bank - you can then take these to your own bank (and the RBI if necessary) to argue your case.

hth - AndyD 8-)#

a_f_d

I have no idea whether this has any chance of getting passed, but it is very worrying.
It is also a very astute move by Shantaram Naik - it is quite clear that the centre has told the CM that there is no chance of Goa getting special status, but this Bill would get around that by allowing all states in India to restrict the sale of land / property in any way they wish.
It has to pass both houses so it is by no means certain to happen.

AndyD 8-)#

Goacrazy56

Yep!! as I said Hopfully they have a helpful builder that will apply to his bank for them.It took us 40 calls to the bank and then they sent to them to our builder who was very reluctant to give them to us and then only after a letter from our advocate.Stating it was illegal to hold on to them.
Even with all the FRICs they will then need to approach there bank who will contact RBI on their behalf for permission to bring the money out.
I know this because someone I know as just sold back to the builder and the bank has been waiting two months for an answer from RBI so they can forward transfer the money back to England.

Goacrazy56

Can you clarify if this bill as been passed or it as just been put before the central Government, what houses does it have to get through to get passed.If the indian Government passes this Bill won't they need to amend the FEMA act?????????
your thoughts please on exactly the meaning of this amendment to the act section 18 to 18A

a_f_d

It has been presented as a Private Member's Bill in the Upper House (Rajya Sabha)
Both Upper and Lower houses (Rajya Sabha & Lokh Sabha)
Since this is a Constitutional Amendment I assume it overrules all Acts, existing and future.
I think this refers to Schedule 7 to the Constitution (here) - #18 of the second list (State List) relates to "Land, that is to say, rights in or over land, land tenures...."
Interesting he picked that item, which is already a State item - perhaps he missed #6 in the 'both' (Concurrent) List:- "6. Transfer of property other than agricultural land; registration of deeds and documents."
(Don't tell him! <g>) - AndyD 8-)#

(Bet you wish you hadn't asked!!!)

Goacrazy56

Oh god Andy speak Englsh will you mate.Has it got passed by Central Government and do'es this mean that the FEMA act is over ruled by this new amendment to this Bill???????:thum bdown:

a_f_d

It hasn't been passed yet.
Bills and Acts are'nt in it - it's an amendment to the bloody Constitution!!!

AndyD 8-)#

... and now it's beer o'clock, cheers (_)? (_)? (_)? !!!!!!

Goacrazy56

Thank you Mr Rumpole of the Bailey or should I say Bombay
So actually this has had no effect on what is in the FEMA Act
At the end of the day this Government will do what they want and float every law
enjoy your beer Rumpole

old man

Am I right. If you have a property REGISTERED in your name that at the moment you cannot LEGALLY even sell it to an Indian, as the register will not
accept FN Deeds. Last week I heard of such a case. So where do people stand who have put their property on the market.