Restrictions on Foreigners Buying Land in Goa
Scams are majorly prevalent all over the state and many outsiders buying land in the state may lose all they invested. Furthermore the Government constantly changing their rules and making amendments, don’t do much to protect the outsiders buying land in the state.
According to sources, many foreigners were told the best way to get property in the state was to pay through an Indian company and after a few years the rules changed and had a tough time.
Every year Goa has a large amount of British tourists visiting the state adding to 60% of the foreign tourist trade.
Many tourists have invested a lot of money in buildings that haven’t come up yet and with a change in the law stand to lose everything.
The dilemma of the state is that outsiders or foreigners are buying all the land in the state and the state has to do something to protect its culture.
Although purchases have been restricted, foreigners can continue to rent out apartments and villas on a valid visa. Many seem to prefer it and choose to rent out furnished or serviced apartments and villas by the coast.
Apparently the Government is going to look into ways of trying to fix this.