Baga and Candolim — enjoy water sports, dancing and get “high” on the endless trance parties.
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Why people love Goa? - we asked this question Indian tourists on the beach. So, look to know the answer!
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Review about stay in Cavelossim
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Palolem beach
One of Goa`s most beautiful beaches,
which is well known as Paradise Beach.

Lyon Age

Dream Valley Villa

Vivienne Serena

Property purchasing in Goa: The Process

To purchase immovable property in India, including Goa, which is becoming popular among foreign tourists and investors, for foreign citizen is relatively easy if he registers a company on the territory of the country and will pay taxes there. In order to have all legal rights onto commercial real estate renting it is necessary to be a legal entity too.

You need to establish a company with Private Limited form of ownership. Actually, it is not so much obligatory and necessary to have the citizen of India as one of your business partners during the company establishment and registration – there is simply no such a legal requirement in Indian law system. The charter nominal capital of your company should be not less than 100,000 rupees. The establishment of the company costs about 110,000 rupees (this is approximately $ 2,200) and its annual maintenance costs about 40,000 rupees. It is obligatorily to have a bank account in some of Indian banks. The procedure of registration of the company takes from three days to one month.

Next step you will make is a signing of a preliminary contract onto selected immovable property purchasing, after which you will need to pay a deposit in the amount of about 200,000 rupees.

Usually builder owners demand from the Vendee to pay 30-40% from the total sum they require for the project within one month after the conclusion of the contract. The rest amount you will pay in accordance with the stipulated payment scheme. Also you will have to pay 5% of stamp duty fee and 2% of registration fee from the total sale value of your future immovable property. Besides this you will need to pay legal charges (about 10, 000 rupees) and regulatory fee for the next 20 years (about 200,000 rupees).

After the completion of all these procedures you will sign the final Purchase and Sale Agreement according to which you will get all immovable property ownership rights. This contract, as well as a subsequent Formal Note of actual transfer of immovable property, must have a notarial certification. The personal presence of the Vendee is plainly required.

Villas on rent in Goa

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