GOA - Buyer Beware!
Jul 9th 2007, 12:17 am
#421
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Re: GOA - Buyer Beware!
[QUOTE=Douglas M;5030260]
Hi Douglas,
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now.
I still wonder if Vadim was him.
Hope I have not offended you by asking these questions
Noni
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now.
I still wonder if Vadim was him.Hope I have not offended you by asking these questions
Noni
Jul 9th 2007, 12:47 am
#422
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Thread Starter
Joined: Mar 2007
Posts: 863
Re: GOA - Buyer Beware!
[QUOTE=noni;5030621]
Hi Douglas,
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now. I still wonder if Vadim was him.
Hope I have not offended you by asking these questions Noni
Hi Noni,
You haven't offended me , ask away.
I did buy my property and register it.
Mutation is a different thing, it is a separate register of land and property ownership.
Resident FNs, (you and i (at the time) included) can in theory buy immovable property, however most FNs are not resident and can't.
There is a secondary problem of the registers currently being closed to FNs, even if you are resident.
You and i are victims of circumstance, ie the policy regarding FNs was changed around august 06 without warning or consultation. I did my homework and the decision to buy prior to that date was correct at the time.
A decision to buy by a FN post august 06 is wishful thinking at best ie they should now know of the change of policy and act accordingly.
kind regards
douglas
Hi Douglas,
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now.
I still wonder if Vadim was him.Hope I have not offended you by asking these questions
NoniHi Noni,
You haven't offended me , ask away.
I did buy my property and register it.
Mutation is a different thing, it is a separate register of land and property ownership.
Resident FNs, (you and i (at the time) included) can in theory buy immovable property, however most FNs are not resident and can't.
There is a secondary problem of the registers currently being closed to FNs, even if you are resident.
You and i are victims of circumstance, ie the policy regarding FNs was changed around august 06 without warning or consultation. I did my homework and the decision to buy prior to that date was correct at the time.
A decision to buy by a FN post august 06 is wishful thinking at best ie they should now know of the change of policy and act accordingly.
kind regards
douglas
Jul 9th 2007, 12:50 am
#423
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Joined: Nov 2006
Posts: 868
Re: GOA - Buyer Beware!
[QUOTE=noni;5030621]
Hi Douglas,
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now. I still wonder if Vadim was him.
Hope I have not offended you by asking these questions Noni
Hi Noni
Would that be Steven Wood of Goa Properties?
Regards
Tony P
Hi Douglas,
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now.
I still wonder if Vadim was him.Hope I have not offended you by asking these questions
NoniWould that be Steven Wood of Goa Properties?
Regards
Tony P
Jul 9th 2007, 2:02 am
#424
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Joined: May 2007
Posts: 2,941
Re: GOA - Buyer Beware!
Belmont said:
Hi Belmont,
I had been very actively considering an open email letter to the major developers in Goa urging them to lobby the government and/or take the Registration matter through the courts.
You seem to imply that they're already on the case?
AndyD 8-)#
The Builders Lobby is trying its best to influence the Administration to allow Law Abiding Investors , who are well within the regulations of the FEMA to be allowed to buy, register and live in Peace.
I had been very actively considering an open email letter to the major developers in Goa urging them to lobby the government and/or take the Registration matter through the courts.
You seem to imply that they're already on the case?
AndyD 8-)#
Jul 9th 2007, 2:15 am
#425
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Joined: May 2007
Posts: 2,941
Re: GOA - Buyer Beware!
Douglas said
Yes, RK is now profoundly unfashionable but he had a profound love and understanding of India. 'Plain tales from the Hills' also contains one of the most grammatically convoluted compliments ever composed in the english language:
"When a Hill girl grows lovely, she is worth traveling fifty miles over bad ground to look upon. "
AndyD 8-)#
I sometimes revisit rudyard kiplings ...
"When a Hill girl grows lovely, she is worth traveling fifty miles over bad ground to look upon. "
AndyD 8-)#
Jul 9th 2007, 2:21 am
#426
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Joined: May 2007
Posts: 2,941
Re: GOA - Buyer Beware!
...budget for an extraordinary event like a major terrorist attack or an asian stockmarket or currency crisis or the unwinding of the yen carry trade , or the us subprime mortgage debacle, or the collapse of the us dollar etc which could change things overnight for all of us.
AndyD 8-)#
Jul 9th 2007, 2:51 am
#427
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Joined: Nov 2006
Posts: 868
Re: GOA - Buyer Beware!
[QUOTE=noni;5030621]
Hi Douglas,
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now. I still wonder if Vadim was him.
Hope I have not offended you by asking these questions Noni
Could it have been on the Chris Gregory thread Number 11
Regards
Tony p
Hi Douglas,
Having a Senior Moment, but now you all know I am also a dumb blonde.
You actually bought your property and registered it didn't you?
Is Mutation something else? or a posh word for Register? If we cannot buy immoverable property why did you purchase - I do apologise, muddled brain to-day. I am sure somewhere you have explained.
We didn't know any of these rules, were quite ignorant, and would be quite happily sitting on our balcony with by 'noff and orange and a Kingfisher, watching the world go by, the beautiful birds, and wildlife, if the D of E hadn't decide to give us a wake up call into the real Goan world.
As far as things being deleted, I will search back, it was just a long ramble about certain estate agent being deleted from membership. Important at the time but not now.
I still wonder if Vadim was him.Hope I have not offended you by asking these questions
NoniRegards
Tony p
Jul 9th 2007, 3:29 am
#428
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Yep! Go to the top of the class
Jul 9th 2007, 3:34 am
#429
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
can't find the thread, or the article to retype.
Jul 9th 2007, 3:46 am
#431
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Posts: 868
Re: GOA - Buyer Beware!
Big Bell ringing in my brain! Have delved into old papers and found an article by Misha Fernandes (Sorry don't have the date - the Goan Observer - have cut the important relative date off the cutting)
""Foreigners own real estatate firms in Goa"" quote
Thanks to coach Steven Wood, not just people from the rest of the country and NRIS BUT, FOREIGN NATIONALS CAN ALSO WIN GOLD, SILVER AND BRONZE MEDALS IN THE GREAT GOA PROPERTY RACE.
ENGLISH OWNED AND RUN - IT IS A CONCERN OF :curse: STEVEN WOOD ESTATE NCY Pvt.Ltd. two offices in Calengute, one is Siolim and Margao. This kind man charges a whopping Rs 50,000 to help set up a company in India, of which Rs. 25,000 would be refundable once you purchase from them! Moreover legal and registration charges would amount to a separate Rs40.000Has anybody got the date of the article, so that it can all be printed in full here to warn people.
TP
Jul 9th 2007, 3:57 am
#432
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Joined: Mar 2007
Posts: 863
Re: GOA - Buyer Beware!
Douglas said
Yes, RK is now profoundly unfashionable but he had a profound love and understanding of India. 'Plain tales from the Hills' also contains one of the most grammatically convoluted compliments ever composed in the english language:
"When a Hill girl grows lovely, she is worth traveling fifty miles over bad ground to look upon. "
AndyD 8-)#
Yes, RK is now profoundly unfashionable but he had a profound love and understanding of India. 'Plain tales from the Hills' also contains one of the most grammatically convoluted compliments ever composed in the english language:
"When a Hill girl grows lovely, she is worth traveling fifty miles over bad ground to look upon. "
AndyD 8-)#
A rare glimpse of a- f- ds soulful side, nice to share it with you.
Moving on a little from india, another poem from RK about the consequences of a lost battle in what is now iraq and how sad that we didnt learn something from the first time we entered it.
There is an indian link though, we were fighting the turks at the time and we used the indian army as our own, many of the losses were from the indian army.
Mesopotamia
1917
THEY shall not return to us, the resolute, the young,
The eager and whole-hearted whom we gave:
But the men who left them thriftily to die in their own dung,
Shall they come with years and honour to the grave?
They shall not return to us; the strong men coldly slain
In sight of help denied from day to day:
But the men who edged their agonies and chid them in their pain,
Are they too strong and wise to put away?
Our dead shall not return to us while Day and Night divide–
Never while the bars of sunset hold.
But the idle-minded overlings who quibbled while they died,
Shall they thrust for high employments as of old?
Shall we only threaten and be angry for an hour:
When the storm is ended shall we find
How softly but how swiftly they have sidled back to power
By the favour and contrivance of their kind?
Even while they soothe us, while they promise large amends,
Even while they make a show of fear,
Do they call upon their debtors, and take counsel with their friends,
To conform and re-establish each career?
Their lives cannot repay us–their death could not undo–
The shame that they have laid upon our race.
But the slothfulness that wasted and the arrogance that slew,
Shell we leave it unabated in its place?
Jul 9th 2007, 4:51 am
#433
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Joined: Jul 2007
Posts: 4
Re: GOA - Buyer Beware!
Hi KN,
Welcome to the site, as you say if you obtain a pio card there should be little problem in buying immovable property in india, but read my previous posts if you are considering buying of plan.
Regarding selling on of property, few FNs have actually bought ie signed a sales deed and registered it, but many think they have bought, there is an important difference.
For those who have legitimately bought and now wish to sell , the register is effectively closed, so they are currently frustrated, but that situation may ease with time.
For those who think they have bought but haven't, the freeholder/developer is still the registered owner, so the thinkers have nothing to sell.
The govt will do nothing about estate agents or developers, FNs should do their homework as they would at home and not behave so stupidly.
Property prices in india are driven by supply and demand as in all markets, the ability to pay being a major contributory factor. Central banks throughout the world have primed their economies with excess money supply and credit ( the ability to pay), the result being asset price inflation, including property.
This asset price inflation is a temporary market situation and will be resolved either by hyper inflation or deflation in order to destroy the excess, or maybe one followed by the other.
Having said that goan property is relatively cheap in both indian and worldwide terms so i feel the bubble will not burst just yet. However you must also budget for an extraordinary event like a major terrorist attack or an asian stockmarket or currency crisis or the unwinding of the yen carry trade , or the us subprime mortgage debacle, or the collapse of the us dollar etc which could change things overnight for all of us.
regards
douglas
Welcome to the site, as you say if you obtain a pio card there should be little problem in buying immovable property in india, but read my previous posts if you are considering buying of plan.
Regarding selling on of property, few FNs have actually bought ie signed a sales deed and registered it, but many think they have bought, there is an important difference.
For those who have legitimately bought and now wish to sell , the register is effectively closed, so they are currently frustrated, but that situation may ease with time.
For those who think they have bought but haven't, the freeholder/developer is still the registered owner, so the thinkers have nothing to sell.
The govt will do nothing about estate agents or developers, FNs should do their homework as they would at home and not behave so stupidly.
Property prices in india are driven by supply and demand as in all markets, the ability to pay being a major contributory factor. Central banks throughout the world have primed their economies with excess money supply and credit ( the ability to pay), the result being asset price inflation, including property.
This asset price inflation is a temporary market situation and will be resolved either by hyper inflation or deflation in order to destroy the excess, or maybe one followed by the other.
Having said that goan property is relatively cheap in both indian and worldwide terms so i feel the bubble will not burst just yet. However you must also budget for an extraordinary event like a major terrorist attack or an asian stockmarket or currency crisis or the unwinding of the yen carry trade , or the us subprime mortgage debacle, or the collapse of the us dollar etc which could change things overnight for all of us.
regards
douglas
Judging by your advice with regards to budgeting for extraordinary events you must be involved in the financial markets. I agree there is certainly a lot of excess capital about which is fuelling all sorts of bubbles (property, Private Equity, Hedge funds, Chinese stock market) and the moment one of these wobbles we could see a lot of trouble. The sub-prime problem seems to be getting wider every day, so it will be interesting to see where that leads.
I agree that Goa may be somewhat cheaper than the rest of India, but at the same time the big cities are seeing property prices climb to high levels due to the burgeoning middle class (and ease of credit), however by all accounts this is starting to tail off now in the big metros in India. However the question remains if foreigners are not allowed to buy properties in Goa who is buying all the new developments in Goa? To my knowledge Goa is a tourist economy or is there IT related industry there as well which is fuelling the local housing market as well?
regards, KN
Jul 9th 2007, 4:53 am
#434
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Jul 9th 2007, 9:17 am
#435
Joined: May 2007
Location: Noni the Indian Goan Beach Mulberry
Posts: 8,227
Re: GOA - Buyer Beware!
Douglas - Thanks for your reply. I am not likely to buy off plan, at least not without seeing the development area with my own eyes. We will probably spend some time in Goa before we decide on an exact area etc. Ideally I would like something in South Goa (Palolem is one of my favourite beaches), but I get the feeling properties are harder to come by there. Also in an ideal world I would love to restore an old Goan property to its former glory, but these things are always more difficult in reality.
Judging by your advice with regards to budgeting for extraordinary events you must be involved in the financial markets. I agree there is certainly a lot of excess capital about which is fuelling all sorts of bubbles (property, Private Equity, Hedge funds, Chinese stock market) and the moment one of these wobbles we could see a lot of trouble. The sub-prime problem seems to be getting wider every day, so it will be interesting to see where that leads.
I agree that Goa may be somewhat cheaper than the rest of India, but at the same time the big cities are seeing property prices climb to high levels due to the burgeoning middle class (and ease of credit), however by all accounts this is starting to tail off now in the big metros in India. However the question remains if foreigners are not allowed to buy properties in Goa who is buying all the new developments in Goa? To my knowledge Goa is a tourist economy or is there IT related industry there as well which is fuelling the local housing market as well?
regards, KN
Judging by your advice with regards to budgeting for extraordinary events you must be involved in the financial markets. I agree there is certainly a lot of excess capital about which is fuelling all sorts of bubbles (property, Private Equity, Hedge funds, Chinese stock market) and the moment one of these wobbles we could see a lot of trouble. The sub-prime problem seems to be getting wider every day, so it will be interesting to see where that leads.
I agree that Goa may be somewhat cheaper than the rest of India, but at the same time the big cities are seeing property prices climb to high levels due to the burgeoning middle class (and ease of credit), however by all accounts this is starting to tail off now in the big metros in India. However the question remains if foreigners are not allowed to buy properties in Goa who is buying all the new developments in Goa? To my knowledge Goa is a tourist economy or is there IT related industry there as well which is fuelling the local housing market as well?
regards, KN
I am glad to see that you also question who would buy the properties being built all over Goa, if it were not for the FN. If we are not wanted, why have the Planning Department, allowed all these plans to be passed, and the developments built. (Is there such a thing as a Planning Department)
We had plans for the new Highland Beach Development, but when we went to look at the site - what was to have been the swimming pool and grass area, had another two blocks of Apartments erected so close together that the neighbours could nearly shake hands from their balconies.
Although we have bought, we have been absolutely astonished on the amount of Developement from Nerul - Calengute in the last two years.
