Need advice on buying property

Lynne

We are looking to buy very cheap property to renovate in Goa, perhaps for our retirement, perhaps to move to sooner, but have no idea where to start! Have you got to be a resident there in order to buy? If we go on a visitors visa, can we get a residency permit when there? Any one got any ideas on cheapish areas with potential? Thanks, Lynne

charlotte

The time of very cheap property in Goa has been and gone. You will only get a 6 month visitors visa unless you get a business visa and prove it!!!!

oldhippie

Lynne
I recommend that you visit http://www.goacom.com

Check out their many property links. You can also hook up with many local Goenkars who might be able to help you better than myself (a foreigner) or any of the non Goans in here.

I have purchased properties in Goa as a tourist however I now have a business and the proper visas. Everything and everyone in India can be bought if you are willing to fork out some extra $$'s.

You can either buy a new unit or you can go in for an old house which you can restore. I would recommend the latter as there are many nice old Portuguese style house for sale. They might not be on the beach but Goa is pretty small and its easy to get around. Just make sure you get a sale deed and get everything properly checked by a few lawyers or government officials. There are way too many scams and you can never really trust the sellers too much.

The prices at the moment are quite low. I recently helped a friend buy a 900sq ft unit at Paradise Village, Calangute for 7.5 Lakhs.
This is a pretty nice complex with a pool, gym and about 800 -100m from the sea.

You should also consider making a trip to Goa and checking things out for yourself.

Good Luck

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Too Many Gandus, Too Few Bullets.

LeilaKaaml

When I made enquiries I was told that foreigners wanting to own property in India are required to go into partnership with an Indian citizen. Apparently you cannot be the sole owner of property if you are a foreigner.

Cheers

Marl

kiranlal

dear Leila

you need to form a private limited company , and if it is inthe field of tourisum or hotel industry you can have 100% owner ship with shares.
the forming a company will cost you more or less 25000 rs . and it may look bit hed ache but it is good to have one
you can awail a buissness visa and use the facilites like cheap air tickets in domestic fights , like apex fare. residens permit etc. , achually you dont need to do any buissness but you can say that you r inthe tousirsum industry . i ti is very simple if we could fine a good accountant .or lawyer .

rhytha

Thats very offending

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goangoangone

I would say it's probably true of every country. It's just kept more under cover.

LeilaKaaml

Actually, while we are on the subject of business. How easy is it to set up and do business in India? I will be in India (Delhi/Rajasthan) for most of Nov 2004 so where is the most appropriate place to make enquiries?

kiranlal

Dear

Leila i think it is best to keep this topic inth forum active so that we can get the expericnce of other peopel in the subject . I am sure a lot of foriegners bought properties in india and soem of them are very happy and soem of them not , achually what i came to know is thet the association with india work at some places and soem places it was cheated , but i think it is our responsibility to to be aware of what happening and what we are doing .
the recent laws are flexible for buissness projects it is non repartriate if it is not a buissness and , i think to deal this with some good charted accountant will be good .
if you dont mind to spend 25000 for a very good professionl service and advice .

first of all you have to find hte place and the amount you want to spent .

keep in touch
with regards
Kiran

das

does anyone have any experience of how property ownership restrictions on non-indian citizens are affected by marriage to an indian citizen? thanks in advance.

Lynne

Hi everyone, thanks to all for the advice on buying property, still a bit confused though! Another question to keep you on your toes, we have 2 boys, aged 11 and 7, does anyone know how we'd educate them in Goa, if we lived there on a permanent basis? Is teaching your child at home a legal option? If we leased a guesthouse in Goa, do we have to have been resident in the country for 6 months before starting business?
Thanks, Lynne and co.

ricdesouza

Hi,
Let me first introduce myelf- Ricardo de Souza, of Goan origin, I live in Goa and holiday in the U.K. as my girlfriend is British. Just seen one of your messages in the Indian info site. In it you stated that you wish to buy land in Goa. I deal with the sale of land or real estate in Goa.

Regarding purchase- If you were of Indian descent, you could buy all sorts of property and land in Goa. However, if you are a foreigner, then you are only allowed to buy non agricultural land. Non agricultural land is land that already has an existing house or structure on it. This house or structure should be legal and appear on all the state (town and country) planning maps. Furthermore- you have to live in India for 183 days at least OR you would have to buy the land after setting up an Indian private limited company. This company can be 100% foreign owned, though you would have to nominate two directors. One of these directors could be yourself and the other could be anyone else you choose, but who has to be present at time of signing. He or she could be a foreigner. Setting up a company is very simple as a consultant takes care of all the paper work. However you can expect an additional charge of around 20, 000 Indian rs.(£ 250<>).

I am presently in England and shall be returning to Goa early next month. If you are still interested in buying property- please do write

Yours Sincerely,

Ricardo de Souza