buying apartment in south goa

jadsam

We are arriving in goa mid january, looking to buy an apartment in the south,
would be grateful of any information on developers and solicitors you can reccomend. We have got two contacts through english companies called tecnica u.k. linked to find a property and homes 4 living. Would be graeful on any advice

GoanCanuck

Jadsam, I have posted information on this topic in other threads but I am again going to post a few tips.

1)You have to stay a minimum of 183 days in one financial year to be able to legally buy an apartment in your name in Goa.

2) The construction quality of the apartments/bungalows in Goa which are sold to British expats is usually shoddy.

3) Foreigners buying property in Goa are usually charged exorbitant prices which is in many cases double what an Indian would have to pay.

4) Almost every apartment in Goa has water leakage/seepage during the monsoon.

5) The air in Goa is very corrosive. Metal fittings in houses corrode/rust very very fast!

6) Because of this type of weather it is not advisable to buy an apartment and keep it locked up for several months continuously. If you keep your apartment locked up for a long time you can expect to be welcomed by fungus, ants, cockroaches ,rats and other critters when you return.

mikkie50

we are going to the mobor beach resort south goa (cavelossim) end of feb they havee a project of villas and appartments for sale and i must say they do look good
just type in mobor beach resort cavelossim goa
hope this helps
mikkie

wafc

you are spot on goan canuck we have a house in north goa,yes it does leak in the monsoon and the work is untidy,goan builders think that a 15 c thick flat concrete slab is waterproof, of course concrete is not waterproof unless it has aslope of at leaste 30 degrees , i have still not found a waterproof agent yet does any one know what kind other solutions may be available in goa,

iyou

Goan Cannuk, you didn't mention that foreigners are forbidden from owning immovable property in India. Your information is mainly applicable to Non-resident Indians. Or do these rules only apply if you've stayed in India for fewer than 183 days? Would there then be a loophole?

http://www.rbi.org.in/scripts/FAQView.aspx?Id=33#2

Q.7. Can a foreign national of non-Indian origin resident outside India acquire any immovable property in India by way of purchase?

A.7. No. Under section 2 (ze) of the Foreign Exchange Management Act, 1999 ‘transfer’ includes among others, ‘purchase’. Therefore, a foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India by way of purchase.

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GoanCanuck

The key phrase here is resident outside India. A person holding foreign nationality is deemed to be a resident of India if he spends at least 183 days in India in the previous financial year which runs from 1 April to 31 March.

The above rule does not apply to the purchase of agricultural land. Foreign nationals are barred from purchasing agricultural property anywhere in India irrespective of whether they are resident in India or not.
The only exception is if the foreign national inherited the agricultural land from his/her parents.

GoanCanuck

The best option from my personal experience from owning various properties in Goa is tar or bitumen. You will have to reapply it every 2 years because it tends to crack and break up from the sun but it does a great job of preventing water seepage.

aholic_2907

hey im from mumbai and im looking for property say land by the beach/ bunglow o/ cottage somwehre on or around palolem beach or even further down south at gokarna.how do i find out?

sheikhpervezhameed

Still there are ways of acquiring real estate by foreigners - for example thru an investment co. Lawyers have a way of doing this kind of thing.

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GoanCanuck

By paying a visit.

wafc

The leak is on the open terrace, there is a room below it,iwas not aware that bitumen was available in goa i think that could solve the problem ,maybe tile over it to protect it. thanks.