Kovallam Varkalla: Am I a romantic fool?

Ponnumol · Jan 18th, 2009, 13:29

Hi all,

I am just back from Kovallam and Varkalla and am totally in love with the place. I am seriously thinking of buying a property in Kovallam which is not too far from the beach. It is being let out to holiday-makers and the property seems to be in reasonable condition and would not require serious investments. It could do with a lick of paint and maybe air-cond in some rooms.

It costs approximately 60 lakhs for 5 cents worth of property which includes a double-storyed building comprising two flats and a single storyed house with two bedrooms. Each unit is self-contained with its own entrance and there is potential for expansion upwards in the near future.

I will not be at hand to run the place and the present owner has agreed to run it for a salary. What is a reasonable salary for someone cleaning and finding visitors for you? There are two long-term guests in the flats but the single storyed house has short-term guests who are recommened by contacts and a little advertisment outside the house. The owner is selling the property for dowry purposes as he wants to get his daughters married.

I would like to buy this property because I would like to return to Kerala for longer periods and may consider living there partly when I retire which is a while now.

As you guys seem to have a wealth of information, I would really appreciate your input. I am aware of the rules re foreigners not being able to own properties and I hope to get a OCI or POI status. Also how much would be the legal costs for such a propety?

Mod Note

Have moved your thread here as buying property is more the subject of your post as opposed to an induction of yourself.

Brisso · Jan 19th, 2009, 04:14

Not sure it is possible ... see the Goa property threads

Nick-H · Jan 19th, 2009, 11:46

Ponnumol's post suggests that he is of Indian origin, so it probably is possible for him.

Jan 18th, 2009, 13:29	#1
Ponnumol Member Join Date: Jan 2009 Location: Sweden Posts: 2	Kovallam Varkalla: Am I a romantic fool? Hi all, I am just back from Kovallam and Varkalla and am totally in love with the place. I am seriously thinking of buying a property in Kovallam which is not too far from the beach. It is being let out to holiday-makers and the property seems to be in reasonable condition and would not require serious investments. It could do with a lick of paint and maybe air-cond in some rooms. It costs approximately 60 lakhs for 5 cents worth of property which includes a double-storyed building comprising two flats and a single storyed house with two bedrooms. Each unit is self-contained with its own entrance and there is potential for expansion upwards in the near future. I will not be at hand to run the place and the present owner has agreed to run it for a salary. What is a reasonable salary for someone cleaning and finding visitors for you? There are two long-term guests in the flats but the single storyed house has short-term guests who are recommened by contacts and a little advertisment outside the house. The owner is selling the property for dowry purposes as he wants to get his daughters married. I would like to buy this property because I would like to return to Kerala for longer periods and may consider living there partly when I retire which is a while now. As you guys seem to have a wealth of information, I would really appreciate your input. I am aware of the rules re foreigners not being able to own properties and I hope to get a OCI or POI status. Also how much would be the legal costs for such a propety? Mod Note Have moved your thread here as buying property is more the subject of your post as opposed to an induction of yourself. Last edited by brownboy66 : Jan 18th, 2009 at 15:26.

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Jan 19th, 2009, 04:14	#2
Brisso Specialist muddler Join Date: Sep 2006 Location: Brisbane Posts: 1,084	Not sure it is possible ... see the Goa property threads

Jan 19th, 2009, 11:46	#3
Nick-H This is just a cameo appearance Join Date: Oct 2004 Location: Chennai, India Posts: 36,225	Ponnumol's post suggests that he is of Indian origin, so it probably is possible for him.