Hi Brad121
I have looked into buying and basicly you need to set up a business to buy. regarding takeing money out after 5 years you can take a percentage of your money out of the country each year the percentage varies but better than nothing.
What sort of prices are you looking to pay I have been looking at some one bedroom places for between RPs 550000 to RPs 650000 in Baga and Candolim.

Peter

When reading up about takeing money out of India on the IHC site it stated that when you sale a property you have to put the money in an account at the Reserve bank of India and after five years you can start takeing out a percentage of the money.

Peter

Peter 650000rp is around £8,500 and good value, please can I see the apartment info. Brad, Fiona told me another problem is that to sell you have to live there 6 months within 5 years of purchasing which for most working people is impossible. I am hoping for some way of doing this but it isnt straightforward and of course resale to Brits all the harder...unless it changes of course. We need an Indian expression of this and not an estate agent's!! Stuart

Hi Stu,

All these things are putting me off!

Margoo is looking into the latest rules of selling, as he says these vary a lot! But hes trying his best, and being a indian he is better than a UK agent!

The goan goverment are trying to make it easier for brits to buy, but at this stage I am very worried, how about you?

On average a good 1bed apartment works out at about 9-15K
a good 2 bed about 14K-22K

But you can buy real gems like 6 bed b&b-s just outside of candolim for about 37K!!! And a swimming pool for a few more pennies!

I am keeping my money in the trusted hands of my bank at the moment, not on a buying a uncertaint bargain! but we will see!

In bulgaria you also need a buisness to buy, im probaly going to buy that house in bourgas, and still thinking of turkey.

Im going to goa, so will look into buying further whilst in india, if not ill have a fab holiday ( i love goa!!) I suggest if your also serious go over, there are good deals at the moment.

What are you going to do?
Are you going to go over?

Yours,
Brad

Stuart,

have a look at the resort reviews of calangute!

Sounds good.

BRAD

Peter
It is really confusing isn't it? I found different info from various official sources.

Hi There,

We are currently buying in Calangute and have been told that in order to get the deeds to the property we need to register a business over there which apparently costs abot £285 to do so. The deeds can then be handed over without having to spend 6 months there. Lets hope it all goes ok

Jo

I contacted quite a few people and got very conflicting info. The RBI told me I could not own property in Goa. ( then appeared to answer a similar query from someone else differently. ) However, more often than not, I was getting told that as I was not Indian, not related to an Indian, had no Indian partner I could not own property. I was put in contact with a Goan lawyer who also told me that. More worryingly, I know have a PIO working with me, whose parental home was left to her and her brothers. She is unable to take her share of the sale out of the country and can only make use of it when her brothers use it to pay for her airfare across and all expenses when she is there. One of her brothers is a lawyer by the way.
One agent told me as regards buying in Goa- of you can afford to gamble losing it all then go for it- because you could make a lot but....

If you can take a percentage out after 5 years that would be ok. Would the embassy know? So many different voices and positions. Stuart

Hi all,

Fiona, I saw your bit on conflicting pieces of official info. India is not exactly up to date with it's information technology. Quite often new laws come in and they are posted along with a defunct site holding the old laws. There is also ways around everything in India including the exchange of the property price.

My advice is to talk to people who have bought and sold and the various way they did it (residency, tourist, business) but more importantly get the names from them of advocates who they felt were trustworthy. The advocate is like our soliciter and they will know what the current legal position is on property buying and selling for foreign nationals. Speak to several (I did) and a picture will emerge of the prevailing legal position. Don't be afraid to ring them even though they are in India, most have good English. Get a busy one, if they are busy they will usually be good. Most won't answer email but the tricky ones will, be careful.

There is a huge boom going on in Goa at the moment and silly money is being made by crooked people. That does not mean that there are not ordinary decent advocates and builders however. The trick is finding them. That is where I would put my energy if I was interested in buying some property.

Just heard yesterday of a big glossy estate agent who has a load of rubbishy buildings and he is charging per viewing. Bringing people out and making a packet showing rubbish. Doing very nicely by his standards. A carpenter charges about 300 rupees per day here and he is charging that per viewing. He brought a couple to 10 viewings yesterday and made 3000 rupees on them alone. Still small money to us but you see the trickery? Needless to say they were furious.

This is a bit difficult to say, especially as you have bought a place Bam.
If you are living in Goa, you will hear that Acron build in places where the land is cheap by Goan standards and vastly overprice their buildings and furniture packages and mantainence contracts by Goan standards. It is still relatively cheap by our standards but a bit of a rip off even so. Sorry Bam. I am sure you are happy and sure that's ok. Just want to give out the perspective of someone on the ground here.

Cheers

Carol

thanks Carol
I find this all really confusing. Why am I working with a PIO who can't take her profit out of the country? Whose brother is a lawyer over there? ( and all of the rest of the things I have already written about) There are defininitely too many grey areas for me!

Hi StuartH

Try indiaproperties.com they have a large range of properties in Goa for sale. from old to off plan one bedroom to four bedroom houses.
The ref No: 150248 Candolin Rs 575000
150247 Clangute Rs 525000. are a couple of the cheaper ones i have been looking at and some more up market ones.
New complex between Baga and Clangute wit two bedroom apartments from £22900 There office is based in Richmond.

Peter

Hi,

Im in calangute, and ive been offered a 3 bed ground floor apartment with terrace for 949,000Rupee - how much is that in pounds???

My phone thing gets on here from goa, but not google!!

Is this good value?

Yours,
Brad121

Peter,
Do you mean you have gone an seen these apartments? They've been up advertized for sale for more than a year now. And the Gentleman who has advertized hasn't replied to a single e-mail I have sent him.
DAK

The ref No: 150248 Candolin Rs 575000
150247 Clangute Rs 525000. are a couple of the cheaper ones i have been looking at and some more up market ones.

Thats good to know deutchesafrrikar 12 as I intended to check them out in two weeks when I get there.

Peter

brad
its about £12k if it looks ok snap his hand off mate
i will take 3 please
mike

here is a conversion link really easy to use
http://www.xe.com/ucc/convert.cgi

Hi,

I have brought a bungalow style house today just outside of calangute!

3 bed with use of pool, and a large terrace and lovely garden.

1million 280 thousand ruppee

Yours,
Brad

didnt take you long to decide brad hope it all goes well for you
did you go private or have you gone through an agent if so who were they and have you any info you can pass on
mike

Good luck Brad with your new property, would be interested in who you went through.

Peter