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426.  British citizen buying property in Goa India . . . 

Questions: I came across your website while searching for activities in Goa, India and have read quite a few of your question and answer pages. You appear to be quite informed on Indian issues and I would appreciate an honest answer for a question that I have regards to a foreigners buying property in India. Goa to be more specific. I hold a British passport, live in UK and am semi retired. For the last two years my family and I have been vacationing in Goa and during my last visit to Goa, I was led to believe by a gentleman I met in Goa that it is cheaper to purchase a small house or cottage in Goa for regular tourists. He mentioned that many UK residents have their own places that they rent out when not in use. We have enjoyed our previous visits to Goa and the prospect of having our own vacation home appeals to us and some of our friends. We plan on going to Goa again this year in 2012 when the rainy season ends. What is the procedure to buy property in Goa for people like us. We realise that some prior permission is required. So my question is: 1. How and where can I get permission to buy a house or cottage in Goa. We expect to spend about three months every year from Oct to Dec. 2. What is the fee structure to get this type of permission to buy a place in Goa. Can you provide me with the contact information of some property real estate agents in Goa who can help us purchase a property. Look forward to your response. R Blackwell. Answer:  The gentleman who you refer to in your email, either was not aware of the rules and regulations in India or was perhaps trying to steer you towards real estate agents who would have helped themselves to your money. Foreigners are NOT permitted to purchase property in India and that includes Goa! Property purchase by foreigners in Goa Scam Many foreigners, mostly from UK who had purchased homes in Goa, found themselves in a predicament several years ago. Perhaps, some foreigners visiting Goa are still being led to believe that they can legally purchase and own property in Goa if they first set up an Indian company and make the purchase transaction through it. This is not true. As per Indian law: Foreign nationals of non-Indian origin, resident outside India are not allowed to purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. Foreign nationals can lease property in India for a maximum period of five years. There is no permission required for doing this. Foreign nationals who are posted in India for work, can purchase immovable property in India provided they first acquire the necessary approvals from the government authorities at the national as well as the state level. Brokers or real estate agents who advise foreigners that they can purchase property in India by simply living in India for 180 days or more, are attempting to mislead. Foreigners who get the urge to buy property in Goa, should make it a point to check with the local registrar office. Furthermore, make sure you are in fact speaking to a genuine officer when making inquiries about purchasing  property in Goa.  There are strict laws in Goa that prevent the sale of properties to foreigners. Before parting with your money, do your homework.
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Goa India
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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426.  British citizen buying

property in Goa India 

Questions: I came across your website while searching for activities in Goa, India and have read quite a few of your question and answer pages. You appear to  be quite informed on Indian issues and I would appreciate an honest answer for a question that I have regards to a foreigners buying property in India. Goa to be more specific. I hold a British passport, live in UK and am semi retired. For the last two years my family and I have been vacationing in Goa and during my last visit to Goa, I was led to believe by a gentleman I met in Goa that it is cheaper to purchase a small house or cottage in Goa for regular tourists. He mentioned that many UK residents have their own places that they rent out when not in use. We have enjoyed our previous visits to Goa and the prospect of having our own vacation home appeals to us and some of our friends. We plan on going to Goa again this year in 2012 when the rainy season ends. What is the procedure to buy property in Goa for people like us. We realise that some prior permission is required. So my question is: 1. How and where can I get permission to buy a house or cottage in Goa. We expect to spend about three months every year from Oct to Dec. 2. What is the fee structure to get this type of permission to buy a place in Goa. Can you provide me with the contact information of some property real estate agents in Goa who can help us purchase a property. Look forward to your response. R Blackwell. Answer:  The gentleman who you refer to in your email, either was not aware of the rules and regulations in India or was perhaps trying to steer you towards real estate agents who would have helped themselves to your money. Foreigners are NOT permitted to purchase property in India and that includes Goa! Property purchase by foreigners in Goa Scam Many foreigners, mostly from UK who had purchased homes in Goa, found themselves in a predicament several years ago. Perhaps, some foreigners visiting Goa are still being led to believe that they can legally purchase and own property in Goa if they first set up an Indian company and make the purchase transaction through it. This is not true. As per Indian law: Foreign nationals of non-Indian origin, resident outside India are not allowed to purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. Foreign nationals can lease property in India for a maximum period of five years. There is no permission required for doing this. Foreign nationals who are posted in India for work, can purchase immovable property in India provided they first acquire the necessary approvals from the government authorities at the national as well as the state level. Brokers or real estate agents who advise foreigners that they can purchase property in India by simply living in India for 180 days or more, are attempting to mislead. Foreigners who get the urge to buy property in Goa, should make it a point to check with the local registrar office. Furthermore, make sure you are in fact speaking to a genuine officer when making inquiries about purchasing  property in Goa.  There are strict laws in Goa that prevent the sale of properties to foreigners. Before parting with your money, do your homework.
N
RI Information
 Informing  educating and connecting Indians across the globe
NriInformation Questions &Answers 
Read Disclaimer at bottom of page
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com