Return of Santan

Hi Rula & All,

The UK address given for CG & co has been "credit checked " and there is an "industrial cleaners" business registered there under that name with a registration of CG & JG as directors, with assets of £9k and a recommended credit limit of £600 !WARNING
Although this has nothing to do with me the people who are affected should seriously make some waves if he does not have another UK registration address

Kan-conned

Sam K

I guess the sunny days are numerbered for most of the builders / developers in Goa....well i am sure they must have made a hell lot of hay at the cost of the FN's ... how about demanding complete refunds!

http://oheraldo.in/pagedetails.asp?nid=3770&cid=26

To all the prospective buyers (FN's) ....please dont allow those greedy goan / indian builders to rip you guyz off...

Daff

So now they are turning on each other as well as us. It had to happen eventually. Wonder if the builders will still want to buy back? And at what price?

poppetjay

Just received an email from jemma she has had lots and lots of responses, which is terrific, but says its going to take some time to pull things together but atleast the ball is rolling in the right direction for once.!!!

rula

:curse::curse::curse: gut feeling was right then. about him.
Shelly Regal Builders - has nothing to do with the Highland, although the boundaries of both projects sort of intermingle. In all fairness to Shelly
he offered some people their money back before they took possession - and now they are the ones grumbling. We unfortunately are not in that position.

The Highland is another story.

Honey Bee

Does not look good for their clients then.

poppetjay

sorry folks my mistake not highland, meant regal gardens etc, shelly is a very clever cookie though like most builders in goa, he let people spend hard earned cash updating the flats, putting all mod cons instead of basic amenties then offered them their money back!! very very clever people these goans.....

rula

Hi poppetjay,

You mean Regal Park, that is the big developement amalgamated with its borders on the Highland. Regal Gardens is the very small developement some years old opposite the Sea Shell. It was the people in Regal Park who were offered they money back before they moved in.

riws

It think it is builders / developers who are responsible for the current predicament. They flouted many rules in setting up their projects and the local anger was projected on the FN's.

I have heard in many cases that Non Goan Indian builders don't sell apartments or villas to Goans or NRI Goans and prefer FN's and Non Goans.

Best option would be to work out some compromise - FN's and Non Goans should not be allowed to buy land or Old Portuguese villas (even in patnership.) and can own individual newly built villas or apartments which comply with all environmental rules.

People who have purchased land should be allowed to sell at their quoted price.

riws

Manohar Parrikar was a former CM of Goa and now is the leader of opposition. He gave an interview around 1-2 months back where this issue on FN's and Non Goan buying land in Goa was discussed.

Check this videos -

http://youtube.com/watch?v=Wkh-RARJoKY&feature=related

http://youtube.com/watch?v=w-kCWa74mkw&feature=related

poppetjay

sometmes people on this thread are so padantic, regal gardens is one of shellys constructions no matter how old and they to were offered there money back!!! (horses mouth)at the end of the day builders/developers are out for what they can get always have always will be i personally have never found one honest one in the pack and shelly is not the exception!!!

a_f_d

Shelley refunded people who had bought off plan, and may well have offered refunds to anyone who had bought based on his personal assurance (and belief) that their purchase was legal / possible. I know he went to some trouble to check out the law before offering properties to FN's.
Seems very fair to me.

AndyD 8-)#

poppetjay

sorry have to disagree but then thats my prerogative, shelly/royston sold property to foriegners with 6 month tourist visas long long before the s.... hi the fan he knew exactly what he was doing as did all the builders/advocates was illegal and his tried to cover his own back by offering people their money back, then sell to indians at a profit. believe what you want to believe may seem his an angel but he wears devils clothing under them wings!!!as they all do.

Douglas M

Hi poppetjay and others posting in this vein,

By selling to FNs on a tourist visa , i presume you mean contracting via an agreement to sale.

It is not illegal for a resident indian national eg. developer/ freeholder to contract with another to transfer immovable property in india.

However, if the other party is a non resident FN then the non resident FN is probably committing an offence under FEMA and if they haven't registered the agreement to sale, they have also committed an offence under under the 1908 registration act.

If a resident indian national freeholder/ developer then offers to return the security deposit (or other label for the money) to the criminal FN, then the FN should snatch his hand off as the freeholder / developer has no obligation to do so.

Remember the FN owns nothing and the resident indian developer /freeholder owns the freehold and can transfer it (sell/gift/mortgage) to anyone they chose to and at any price.

As it is highly unlikely that the FN will now be able to proceed to the second stage of executing a sale deed and as the agreement to sale is probably not transferrable it is effectively worthless. Although there may be some amenity value to the property , assuming the FN can continue to access the property via the visa system.

kind regards

douglas

Saveyourbreath

What is the position should a FN have title deeds prior to the registar been closed. Can this FN sell/transfer the title deeds to another Goan/NRI/PIO?

I would agree with Douglas, any FN having put down a deposit in the current climate - if the developer gives you a get out of jail card - take it and run!!

Then worry about how you run with it and to where