Can NRI & PIO buy property in Goa - The Complete Guidelines

Till now many proposals were presented by the Government of Goa to stop Non-Goans from buying land in Goa but nothing much had happened. Actually, local inhabitants of Goa do not like Non-Goans to buy property here and for this particular reason, they claimed special status for Goa to impede the intrusion of outsiders.

But in spite of all the endeavors, Goa didn’t get special status. The state-owned Goa Coastal Zone Management Authority (GCZMA) also considering the prospect of striking a full ban on outsiders buying properties in regions categorized as Coastal Regulation Zone (CRZ). 

So, in spite of many efforts, there are no particular laws that ban outsiders to buy land in Goa. Now one of the biggest questions here is - Who can buy land in Goa?

Indian citizen domiciled outside Goa but living in India

Every Indian can buy property in Goa, no matter they are domiciled in Goa or outside Goa.

But how?

This is because forbidding Indian citizens from buying property in India will be a violation of their fundamental rights. 

And if the truth to be told, the demand of the restriction on sale property to individuals not of Goan origin, you can consider these restrictions on foreigners but if you think Indian citizen should not buy property in Goa is a complete refusal of an Indian citizen’s right under Article 19(e).

So, it is confirmed that we cannot restrict any Indian who is not domiciled Goan or person living outside Goa from buying property in Goa, even the agricultural land can be purchased by any Indian.

Now, Look what are the rules for Foreigners and NRI's.

Foreigners and Indian citizens residing outside India

FEMA (Foreign Exchange Management Act) is the law concerning buying and selling of property by an individual resident outside India. This act is different from others, everything under this act is forbidden unless otherwise especially permitted. FEMA controls the property buying by, Persons of Indian Origin (PIO), Non-Resident Indians (NRI) and foreign citizens.

Now it has clarified that an Indian citizen resident outside India can acquire immovable property in India except agricultural land, plantation or a farmhouse.

On the other hand,

Citizens of many countries like Sri Lanka, Pakistan, Afghanistan, Bangladesh, China, Nepal, Iran, or Bhutan have got the prior permission of the Reserve Bank of India (RBI) before purchasing the property. 

And that's why many real estate developer is offering holiday homes Provident Adora De Goa, Tata Rio De Goa, Alcon Estrela, and Edcon Greenfields, etc. But if you are looking for something exclusive and best in luxury then we recommend you to Tata Rio De Goa from reputed name Tata Housing. 

So, don't waste your time and buy your holiday home or property in Goa, before it's too late.