a_f_d

To 'transfer it into your name' you would have to draw up a Deed of Sale (and pay Stamp Duty & Registration Fees on the current value) and Register it - BUT unless you are Indian or Indian origin the Registrar will refuse to register your deeds (read this thread), so you wouldn't be able to sell it either, and are liable to investigation by the notorious Department of Enforcement.
You can't technically sell it now either, because you don't own it - but you can transfer the Agreement e.g. to an Indian buyer as I described above. If your builder is prepared to do that for £1500 then that is very much at the bottom end of the going rate.
Those are really your only options - get your Deeds and a load of trouble or assign your AforS (which is pretty much like selling the apartment).

ching! (_)? (_)? AndyD

dreadsoc

Hi Dean

Welcome to BE - you are certainly not alone in this type of situation, except that you seem to be on a time limit.
I have sent you a pm

Dread - x

dreadsoc

CONFISCATION ORDER ON PROPERTY

This morning I have been shown a copy and I can confirm that the DoE has issued a confiascation order together with a fine of 1 lakh rupees against an elderly British woman who has a flat in North Goa. Dated Dec 2012 - Panjim ED.
The ED have based the order on alleging that she is not a resident because she did not intend to stay in India for an indefinite period.

I am told that the lady is taking the matter to appeal, but this has meant paying the fine then 5000 rupees appeal fee.
Really hope she is successful.

Dread - x

a_f_d

Well done her.
Any chance you can get a copy of the Order (name blanked out if necessary)?

AndyD 8-)₹

Jacksie

I am so sorry to hear this, what a nightmare for the lady involved.Our solicitor told us that if you get one of these letters the fine can be up to 5 lacs, and the appeal is supposed to be held in Mumbai. He also advised us that the appeal court would take another 5 lac as security. I am not sure how true this is, but it all sounds really costly. I do not understand how this allegation works how can they say that she ( or any of us) did not intend to stay in India for an indefinite period. All of us have end dates on our visas, circumstances also chance over the years. Worrying for us all isn't it?

federicoPa

Hi dread,

the allegation that the lady "did not intend to stay in India for an indefinite period" seems to be very weak and difficult to claim in a court, hopefully.

Do you know if there was some other particular problem connected to this case ?


Bye

federico

dreadsoc

No - the reason given for confiscation was that her circumstances did not amount to "an untention to stay in India for an uncertain period

And I agree this is weak and her appeal has some strong grounds

Dread - x

afaiknow

Panels formed to process applications under FEMA

16 Feb. Herald. The Government has constituted committees in both districts to process the pending and future applications by foreigners, PIOs or OCIs for purchase or sale of property, as all of them come under FEMA 1999… According to FEMA, a foreigner can buy land in India only if he has a business visa and lived in the country for 182 days at a stretch in the previous financial year. Data shows that nearly 500 foreigners, mostly British and Russians, bought property in Goa and with most floating companies with locals… 222 words. Full Text

http://www.epaperoheraldo.in/Details...&dat=2/16/2013

scot47

More evidence for the argument "Don't buy - rent !"

johnny five

Look Scot, I think everyone following this forum fully realises that it is extremely stupid to now buy property in Goa, or India in general.

The problems described on here are being experienced by people who bought several years ago before rules were changed with retrospective effect, in addition to the Goa government also introducing actions without any legal backing.

Personally, I rented for over 15 years, and obviously am very glad I did.

A point that has not been made on this subject is that, with rampant construction without any regulation, the ability to move house with ease can be invaluable.


.

a_f_d

How come your quote combines two different newspaper articles?

Your link has the correct wording of the most recent article.
No-one yet knows what this means, but it may be a positive move.

AndyD

scot47

Look Johnny

I am afraid that I do not have the same confidence as you in the wisdom of the great British public.

federicoPa

I agree with Andy, it may be a positive move.


At present they only say "NO".

In the future, if they will say "NO", they should also explain "WHY".



federico

Jessica

Any hope that the British Consul will be briefing/updating Cameron re our property issues on his current 'goodwill' visit to India? And that he will make some bargaining points to mutual advantage?

iain492001

What do you bet it's not even on the agenda?