FAQs

I am a (non-Indian) foreigner can I buy ?

Strictly speaking NO, although many foreigners have purchased through formation of companies and other ways, Bharat Developers & Realtors only sell according to Indian Law. If you are a foreigner and require detailed information please contact us for more information. If you are Indian, and you have a foreign passport (i.e. British/USA/Canadian/European etc), then you can still buy property in India, through registration of a PIO (Person of Indian Origin) or OCI (overseas Citizenship of India) card. This can be applied for in your home country through the High Commission of India in your relevant country (details can be found on the internet).

I am a NRI, what is the process for buying (PIO etc) and how can you help me ?

Firstly to find the correct terminology for an NRI please read here. NRI's are fully entitled to purchase immovable property in India and take profits from sales. NRI's are entitled to the status of PIO (Person of Indian Origin) or OCI (Overseas Citizenship of India), which allows them to purchase property in India freely and securely. More information can be found at the website of the Indian High Commission in the country of your residence. We also have agents who can help in this respect. The only requirement to fulfill in order to obtain the PIO or OCI card is that your father or grandfather had at some point held an Indian passport. These card schemes were specially created by the Indian Government to attract investment back into India from the children and family of the millions of Indians who migrated away from India over the past few generations.

What about maintenance costs ? Is it fixed or will they just keep rising ?

Costs are fixed and are mentioned in the Agreements which all purchasers will sign. We assure our clients that maintenance will not increase for a minimum period of 5 years, and this also is mentioned in your agreement with us. In our projects we will be forming maintenance societies, which all householders will become members of. All of the money which is collected for maintenance will go to the society which effectively means that residents will be in control of where and how their money is spent. This will ensure proper maintenance year after year.

I've heard lots of negative stories about buying property in Goa, what can you say about this ?

The negative stories come mostly from foreigners buying illegally in India, something which we do not get involved in. We pride ourselves with having knowledgeable and professional staff in these areas. We have a specialist team of Domestic and International Lawyers and Accountants who work closely with us, and we will be more than happy to offer you their services.

Can I get a homeloan to buy a Ruby Residency property ?

Yes, we are fully approved by the biggest bank in India SBI (State Bank of India) and Axis Bank, and have had approvals from most of the major banks in India. If you are an NRI, you can still get a home loan for our properties.

What is the rate of appreciation of the property ? How good an investment is it ?

Typically you will be looking at 25% capital appreciation per year, all you have to do is compare our prices with those in the industry. We are less than half the price, therefore offering our clients the best possible returns. Rentals will be additional to this, so returns of over 35% will not be surprising.

What are the payment terms ?

Payments are according to our building schedule. But typically 10% deposit now followed by nice easy installments over the next 18 months. Completion is set for End 2011, therefore the payment will be in installments from now until completion, typically around 10% every 2 months, but payments will be in line with the construction period.

What makes Bharat Developers different to other developers in Goa ?

Honesty, integrity, transparency, value-for-money......see for yourself !

What about rental schemes ?

We are currently in negotiations with domestic and international travel agents to rent out these apartments on your behalf, as well as using our formidable database and experience with on-line marketing of holiday lettings. We are also planning on creating a Conference Centre adjoining the Ruby Residency estate, which will further provide high-end rental opportunities for our clients.

What about safety and security ?

We have 24 hr manned security with CCTV entry.

What about power cuts ?

24 hr common area and lift back-up by Cummins Eco-friendly generators, will ensure that you will never be left in the dark.

What about developments around Ruby Residency ?

We have an absolute unique location for Ruby Residency, the ONLY residential land which borders onto paddy fields and Government land (which means NO development in the future around this project), so you will enjoy beautiful uninterrupted views forever !