Re: GOA - Buyer Beware!
 

Thanks for information Remi - Chris Gregory categorically stated that the property he sells is 100% legal and that FN such as myself can own the freehold to the property legally, albeit we have to form a company in Goa and open up Indian bank accounts. The costs of Lawyers legal fees is as you rightly noted £500.00.
I came accross the forum too late unfortunately !

I will be taking matters further

Thanks again Remi

Lewys

Re: GOA - Buyer Beware!
 

Hi Lewys,

Hope it all works out for you!
There are a lot of people on this forum in much the same situation as yourself. Its near impossible to own the freehold on a property in Goa (For FNs) at this time. Many are being investigated by the Directorate of Enforcement for possible breaches of FEMA and some FNs who had sucessfully registered their properties, obtained residency and adhered to FEMA we're still excluded from Goa and ended up losing their x-visas.

It is an uncertain and worrying time for many and unfortunately things hav'ent been helped by some estate agents mis-informing and even deliberately misleading Foreign Nationals.

We can all only hope that some sort of amnesty will be announced eventually by the Government .......but its too early to say!

Regards,
Remy

Re: GOA - Buyer Beware!
 

Hi all

Am new to here and have been diligently reading exepriences of buying property in Goa. Real sorry for the bad ones.

I am a PIO and am going to Goa to complete purchase of an apartment in Highland Resort Goa. A very spontaneous purchase, without much knowledge at all when I signed the papers.

As I am only there for a week when I return at the end of Nov, I need to finalise everything very quickly. Firstly, I'd appreciate if anyone can recommend a reliable, timely property lawyer in Goa, preferably located in North.

Also, I am afraid of having to leave Goa without the final deeds in my hand - it took me 6 months to have my initial contract couriered to me. I want to rent it out also and am expecting I don't need to set up a company as a FN woudl have to?

Can anyone else share their experiences with me, especially with Highland Resort? Also if anyone else opted with the rent back scheme with them. ( I plan to rent it out myself)

Many thanks for your time to reply to this.

G

Re: GOA - Buyer Beware!
 

Hi There,

Welcome to the forum!
Now relax!!!

You are a PIO and i assume you have a PIO Card so you dont have anything to worry about.
You may not get your deeds on your one week visit......but dont worry too much about that.

Just make sure you keep all documentation and pay for your apartment through banks so there is a record of all transactions. Keep all receipts and photocopy everything including your PIO Card.

There are a lot of FNs and PIOs in and around the Highland Resort in Candolim and as far as i'm aware it is a very good location and the Highland is popular. You should'nt have any problems renting it out through the season.

You are in a good position being a PIO and i wish you all the best in your purchase. Relax and Enjoy!!!

Regards,
Remy

PS. Remember its near impossible to get things done quickly in India.....Goa being no exception....just go with the flow are you'll end up stressed to the hilt.

Re: GOA - Buyer Beware!
 

yes, welcome to this forum, Goa, and hbr

- you'll probably see me around <g> - say hello!

AndyD 8-)#

Re: GOA - Buyer Beware!
 

An open e'mail to Lewys,Groverlife and any FNs thinking of "investing" in Goa (particulary with Mr G*****y:curse:,Claremont any British based "agents")JUST DON'T DO IT:thumbdown::thumbdown:
The only way we can prevent new people from losing cash is CONTINUED press exposure.
I suggested last week e'mailing the BBC Watchdog website about these issues and I know a few of you have responded.
A lady from this site called "Curious about Goa" WAS supposed to be doing an article for the Telegraph but I've not seen it.We ALL need to bang the drum so the press will here us !

Santan.

Re: GOA - Buyer Beware!
 

Thanks Remy/Andy

Really appreciate your feedback. Feel so much more at ease now. Yes for sure I have been keeping a copy of everything. I didn't even get an independent lawyer when I first set out to buy the property, which I should probably do when I get my final deeds.

Andy - are you at Highland Beach Resort at the moment? I'll be there from
23rd Nov to 2nd Dec. Do you rent out your apartment? I don't want to do the rent back scheme and am hoping hbr will at least keep it clean for me and manage other things for me. Seems piddly what they are offering back to you on their own scheme.

Remy where are you in Goa?

Thanks
Gee

Re: GOA - Buyer Beware!
 

Hi Gee,

Yes a lot of people purchase property in Goa and dont use independant lawyers......i never used one at all.....my builder done all the biz and i havent had any probs so far....touch wood!

I stay in Arpora in North Goa about 2Kms inland from the Calangute beach belt.

Regards,
Remy

Re: GOA - Buyer Beware!
 

Hi,
yes we're here for an 'uncertain period' of at least 183 days <bg>. We did rentback initially because it was easy and it gets all your maintenance etc. done for you, also you get up to 7 weeks with housekeeping, breakfast etc. included.
I'm sure that you could make more money by letting yourself, even if you only let 'peak season' (mid-Dec to mid/end-Jan) but you would need top set up a room boy to open up before your guests arrive and do the room for them (Highland will do it for iirc Rs 150 a day) and breakfast for your guests (Rs 120 per day?).
All of these things are do-able but probably not in a 1/2 week visit.

If you aee me around the site say Hi!

AndyD 8-)#

Re: GOA - Buyer Beware!
 

Hi Andy

Yes I will def. say hello. Remy - thanks for your advice about lawyer...

I woudl definitely need hbr to open up/close after guests leave. Also, maid cleaning and why not breakfast too. Would it be that tricky to arrange all this whilst I am out there ? I would imagine that I just need to e-mail and follow up with them when my guests arrive?

Sorry all for talking about this on a 'buyer beware' forum - I really should start a separate thread for this.

Just another quick question - I have paid 33,000,00 for my 2 bed. 30,000,00 is for the property and 3 for lifetime maintenence and furniture and fixtures. Kiran kerkar wants me to pay 2% of stampduty on 33 lakhs, when surely it woudl be on just the price for the property - 30 lakhs. Did you have to do the same...pay stamp duty on property and the rest?

Many thanks for your time, really appreciate it :D
Gee

Re: GOA - Buyer Beware!
 

G,
I'll send you a PM - but a few comments here about Stamp Duty:
(if anyone knows more/ otherwise please chip in)

1) it is payable when Agreements of Sale and Sales Deeds are Registered (which is not being done for fn's at the moment but that's a different story!).
2) afaik in Goa Stamp Duty is 4% on signing Sales Deeds but if 1% was paid on signing Agreement of Sale that is deducted.

AndyD 8-)#

Re: GOA - Buyer Beware!
 

Thanks Andy

I look forward to your PM. Incidentally what does afaik mean?

Cheers
G :thumbsup:

Re: GOA - Buyer Beware!
 

Hi Sorry to contradict but stamp duty is 2% in Goa if anyone tells you different Id question that
Karen:o:o

Re: GOA - Buyer Beware!
 

there seems to be some general confusion about stamp duty in Goa which is why I asked for comments - this site says 8% - some other sites say 2% - two years ago I was told that it had been cut from 8% to 4%.
Does anyone know?
(I'll be seeing a lawyer next week and I'll ask for chapter and verse)

AndyD 8-)#

Re: GOA - Buyer Beware!
 

Hi Andy,

I too have heard so many differant rates ranging from 8% down to 1%.....have'nt a clue on this although im hoping Karen and Cliff are right and its only 2%.

Cheers,
Remy

PS. Has the rain gone away?