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Goa
The following covers questions based on your selection.
Questions
How far is Peace Valley from the Airport, and how far is it from the nearest Beach.
Peace Valley is only a 30 to 40 minute drive from the airport and a 15.minute drive from the beach
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What is the time frame for the whole site to be completed.
The overall project will take 30 months comprising of 18 months to build an apartment block from the date of booking, and individual villas take 12 months to complete.
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Does the builder give any warranty on the building.
Yes the builder gives a 10 year defects warranty on the building structure
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What paper work or documents do we get once the villa or apartment is completed, does it get signed over to the client.
The builder makes a deed of sale in the clients name.
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How much deposit do we have to send, and what guarantees do we get when we send the funds.
Deposit monies are to be paid in accordance with the payments schedule. Payments are made direct by swift into the developers account, thereby activating the bank guarantee
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What happens if the builder goes bankrupt, during the construction of the apartments,what guarantees do we have, that our money is secure.
The developers bank will supply a bank guarantee
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As an investor what sort of return in rental income would we expect from a 1/2/ bed apartment and the villas.
Approximately Rs.1000 to 5000 per day. For ROE click here.
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Where would the rent be derived from, and where would the tourists come from.
Tourists come from the United Kingdom, Europe and from indigenous people from within the regions of Indian .We can also link up with charter flights and local five star hotels.
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Who looks after the apartments for renting.
Vicela Holiday Homes Private Limited
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How many weeks a year would an investor get a rental income.
At least 9 months in a typical year
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Once the apartment is ready for rental, who supplies all linen & towels for the tourists during the rental period.
Our rental company i.e PEACE VALLEY RENTAL AND MANAGEMENT COMPANY PVT LTD., however it is the property owners responsibility to pay for the linen and towels
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How does the water & electricity get paid during the rental period, and who pays for this. What is the average cost for water & electricity for the year.
Every apartment has a seperate meter, generally this needs to be accounted for within the rental costs. This can be agreed between the various parties as to who pays for these costs.
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Do we have to take out any insurance on the property,and how much does it cost.
It depends upon the purchaser if he wants to have the insurance, however it is recommended that insurance is taken out as follows. The rate of insurance on the structure is Rs.60/- per one lakh, which is a nominal amount. To protect against theft it is Rs.2.5 per one lakh of the total value of goods.
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Is there any problem getting our money out of India if we decide to sell our apartment or villa.
There is no problem to take money out of this country you only need the permission of the Reserve Bank of India to repatriate any monies.
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Are there any other unknown cost that we should be aware of. And what is the tax implications of buying in Goa.
If you make any income from rental than you have to pay tax after deducting expenses
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What does the average apartment or property rise in percentage terms each year.
It depends it can vary from at least 5% upto 100%
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