Information for buying property in Goa

kismet

I am a Scottish woman who is looking to buy a permanent home and an apartment for letting purposes, possibly in Calangute or Benaulim areas. I would be grateful for any help or advice on these matters. Does anyone know if there is an expats community permenantly based in North Goa. Any and all advice gratefully received. Arwen.

aghori

One have to be resident to buy property in India. Tourist visa will not do for the purpose, since in India one buy not only a house, but land also.

cyberhippie

Ditto the above buying land or proerty is a nightmare of red tape and is fraught with danger for the unsuspecting tourist.
A Indian friend of mine spent three years trying to chase down a suitable house in Goa, he concluded that were just too many limiting factors, higher property rates non Goans, clear title was always an issue, always there was some member of the family still laying claim to the ancestral home!
This not to say that it can't be done but be very aware of who you are dealing with, even lawyers have been known to scam tourists!
But the first thing you should look at is how to get residency status! Without this it becomes very difficult, as then you need to go down the road of having the property bought for you in someone elses name!
A recipe for disaster in my humble opinion!!
Even after you get your residency status sorted out, to buy as a foreigner you have to have some sort permission document granted by the State Bank of India, which also takes time!!
Perhaps some of the retirement complexes being built in North Goa have found a way around these laws, I don't know.
Perhaps there's somone out there who knows sombody who's bought in the North of Goa!!

Bryan

Yeah I looked into building a place in the himalaya
Basically you need to have a very good Indian friend who you trust implicitly as they will own the land you build on and thus effectively the house you build ...My agreement is I build it and we share it
When Im there its mine when not he can rent it out
Well that was the idea we spawned ...hasn't moved along at all and doubt it would because its simply a fact that money corrupts lots of money corrupts absolutly ...or was that power hahaha and I'd hate to lose a great friend over a few rupees

Bryan

__________________
Then let us pray that come it may
(As come it will for a' that),
That Sense and Worth o'er a' the earth,
Shall bear the gree an a' that.
For a' that, an a' that,
It's coming yet for a' that,
That man to man, the world, o'er
Shall brithers be for a' that.
- Burns

-m2-

I briefly looked into this a few years back and came to the same conclusions as cyberhippy and Bryan. However, from newspaper articles and adverts, it appears to be easier to purchase a flat as quite a few are going up that cater mainly, if not exclusively, to non-residents and are used only part of the year -- perhaps meant for eventual permanent retirement. Do not consider 'pre-buying' a unit in an unfinished development, however. Apparently many of the projects with attractive, glossy brochures never get built and investors get stung.

If you wish to investigate further, do it in person while in Goa. You probably should get the services of a local lawyer before putting up any money, too. I don't like the Calengute area myself, but it is big with ex-pat Brits. I've also read a newspaper article about a satisfied Brit who purchased a flat in a complex on Bogmalo beach (near the airport), so I know it is happening, but I don't know anyone who has done it personally.

kismet

Thanks a lot for the info. Im only just looking around for cheap countries to live in. Does anyone know what like Sri Lanka or Nepal are like for living in? I asked other people about Thailand, but the government informed me that its impossible for foreigners to own property. What country in Asia can I buy property that doesnt involve problems? Every country seems to try and rip westerners off!

pooch

How cheap is cheap Kismet ? How much you think you should be spending monthly all inclusive ?

goangoangone

Anything happening on this one?
A friend of mine who's been to Goa about 8 times has just "bought" a 1 bed apartment on leasehold. He's met a few locals over the years and they say the developer is a respected businessman. Hopefully he'll be OK but only time will tell.

goangoangone

Thanks for the reply. As I said, he bought the lease. He says it can be passed down to his daughters as well. ie.there's no time limit on it. If it goes wrong, then he hasn't lost a huge amount. I like the 51% resident idea. That would give some protection. I suppose it depends how much trust you can place in someone. There are still some genuine people out there

oldhippie

You can buy property in Goa as a tourist. I recently bought 2 units in Calangute. I had them totally refurnished to suit Americans and am now renting them out for some decent money.
PM me if you like and I can recommend a trade publication I used. Property in Goa is dirt cheap and if you have some spare $$s its a bargain.

__________________
Too Many Gandus, Too Few Bullets.

oldhippie

Digvijay
It's really not a major hassle. If you have the $$'s its pretty smooth. I have had more trouble buying property in Hong Kong or even Stateside than I have in India. The Indian authorities tend to be more co-operative with foreigners than when it comes to local Indians or NRI's.

I am currently looking at a commercial unit in Mumbai and possibly a residential one too as its a lot cheaper than renting. Also property prices in india appreciate a lot faster than many other countries.

premstar

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Hi im Prem and have only found and joined thisforum today,after noticing your conversations.Im very keen on buying land/property in Goa,im british first generation Inidan and need to look into P.I.O. guidelines and see if they apply to me.But am very interested in the name of the publication you where talking about,and your experiences in the red tape you came across in purchasing your property in goa. I spent much time in goa during the early 90's and am looking to live in Inida.

premstar

old hippie
what is the name of the trade publication you used to help you with your property buying/finding

bcurtis

I hear the same thing for foreigners. The best way to go about buying in India is to establish a business in your country of residence then open an Indian subsidiary - that then allows you to purchase property, although my understanding is that the bsuiness must be tourism related. I'm interested in tracking down an honest and reliable property lawyer in Goa so I can move ahead. Any suggestions? And would also love to know the name of the publication...

indiansitar

Can you tell us old hippie the basic procedure and the publication you refer to ? Is it a "underground" secret ?

What about the law ? Can you quote us the law that enables tourists to buy property ?

Thanks