Foreign owned property in Goa, (part Two)

Dear JAQ,
I think you should name and shame the developer, so the rest of us can give them a wide bearth if we come a cross them in the future.

my question
if i marry an indian, can i then get a resident visa and own/buy property in Goa or Uttarakhand, i can imagine doing so, thanx for your replies

If you're married to an Indian national you'd be eligible for a PIO card after one year, and then able to own property. For the first year you're married you'd be eligible for an X visa, which would permit you to stay in India but not own property.

Ownership of property would be subject to fulfilling the FEMA residency requirements. You could do that on X visas, but it would take a while.

Hi, I am a European guy who has spent a lot of time in India and know the people and culture well plus my wife is Indian.
I have a PIO card.

We are currently looking into buying property in India, and last time I spent time in Goa I received a proposition from an older gentleman whom I have known for about two years now who is trying to sell the small plot/house opposite to his own house which used to belong to his parents.
The place is located in southern Goa, in a smaller village close to the beach.

This would be an absolute dream spot for us, and until we would move there later on I would use the place as a small guesthouse or Bed and breakfast.

My questions would be the following:

1. Can I as a non-Goan legally possess land and property in Goa? As I mentioned I do have a PIO card.

2. If not, can my wife who is from Kerala and has Indian citizenship do so in her name?

3. What are the current prices for property/houses in Goa? As I mentioned this is in southern Goa in a small village, the location is top class but the rates should be less then in the more commercialized places no?
Can you believe that this gentleman the first time I was there wanted to sell it for around 3 lakhs, but when I returned he had highered the price, ergo why I want to know what I should expect it to be worth.
The house is cute, but quite run down and old and will need renovation in the future, I am just looking to secure a piece of property for ourselves.

4. Any other tips would be appreciated, I will surely need a lawyer to make sure it will go as smooth as possible am I right, who else should I turn too? Any local politicians or the like?

Sincerely
Corto Maltese

1) Yes you can buy in your name.

2) She can buy it in her name.

3) This sounds very suspicious. For Rs 3 lakhs you can not buy even a hut anywhere in Goa. A detached house regardless of its condition is worth much more than 3 lakhs even in the most remote village in Goa. My guess is that this man is trying to "sell" you land which does not legally belong to him. There have been many such cases.

Thank you for your reply GoanCanuck.
I think the man was simply ill-informed about what his property was worth, or he just tried to catch our attention.
He told us this when we first met, since then it has passed two years and we developed a friendship of sorts.
I never showed interest in the house, so I don't think he saw me as a potential buyer. Anyway last time I asked him about it he mentioned 2-3 crore, is that to much or does it make sense?

What would be the going rate of a small property?
At least it seems that with a PIO card I will be able to avoid a lot of the hustles a lot of other foreigners seem to have.
It always feels best to do it the legal way.

I will face this with some caution and I will contact the gentleman tomorrow to aquire about the exact rate he wants to sell the house for.

If it is within 1 km radius of the nearest beach then a price of 2 crore is possible depending on the size of the plot.

In which place is this house? Generally speaking it is very risky buying land in Goa because most properties do not have a clear title. The property laws in Goa are totally different as compared to other parts of India due to the fact that the Poruguese civil code is still being followed.

Homes and Estates magazine publishes 'government valuer' figures for land and property per sq. mtr in various areas. I think they very much err on the low side but they give some sort of guide. As a very rough guide for apartments and small houses you should be talking in tens of lakhs. Very large ancestral property inland or largish old houses near the coast may be asking figures in the low crores. ymmv

AndyD 8-)₹

@CortoMaltese.

I was down in the Colva/Benaulim/Varca area two weeks ago looking at plot prices. Colva seemed the most expensive at around Rs12,000/sq mtr, even 2km or so from the beach. Benaulim was Rs12k-15k/sq mtr, about 1-2km from the beach. I preferred the ambience of the Varca/Orlim area, especially the beach which looked quieter and cleaner. Again, the land there was about Rs12k-15k/sq mtr within 1km from the beach, but much less at Rs6k-8K/sq mtr when you go 2km inland. However, people said there was very little available, and what does come up tends to get snapped up quickly. I have seen adverts for plots at Rs4k-5k/sq mtr in more remote places like Cuncolim/Balli. I want to check out prices in Canacona next time I visit, as I lived there for 3 years in the late 1990s.

I agree with what GoanCanuck said that you need to establish clear title, so only go through a reputable lawyer to get the paperwork fully checked out. Even then I don't know how difficult you may find the whole buying/building process in a small country where the locals can sometimes feel wary of outsiders moving into their area (sometimes with good reason when you see how some foreigners behave!) I'm hoping to do the same next year, so I hope people will not be too hostile or obstructive if and when we take the plunge. Also be aware that there are copious regulations to adhere to when building in Goa, here is an official document outlining them :

http://www.goanparadise.com/media/Ne...1-24-SI-OG.pdf

199 pages of happy bedtime reading designed to put you right off building your own home in Goa! Have you considered one of the many apartments dotted around near the coastal areas? Definitely pricier but less hassle.

At the moment, we have a small farm here near Hampi in Karnataka, with a compound of about 1100 sq mtr. We'd be lucky to get Rs 20 lakhs for the compound/rooms here but shift it to Goa 1km from the beach and we'd also be talking about Rs1.3-1.5 crores.

All the best with your house/land hunting and please keep us informed about how you get on.