586 cases of foreigners owning property in Goa

NT NETWORK
Posted on 2009-02-08
PANAJI - There have been 586 registrations with the state government as regards the foreigners who own land, flat or house in Goa, as on December 31, 2008.
The Chief Minister, Mr Digambar Kamat, in a written reply to the House has also stated that in all, 313 cases, prima-facie in contravention of the Foreign Exchange Management Act 1999, have been established and referred to the directorate of enforcement, acting as a quasi-judicial authority, for further investigation and necessary action.
“The state government however, has no information about the number of cases that have been cleared by the directorate of enforcement, as also the number of cases that have been issued notices by the central agencies,” he added.
“The acquisition of immovable property by foreign national of non-Indian origin is governed by the FEMA 1999,” the Chief Minister maintained, adding, “In terms of Section 6(3)(i) of FEMA 1999, the Reserve Bank of India regulates acquisition and transfer of immovable property in India by a person resident outside India.” Further, the RBI has also issued guidelines in this regard vide a master circular, he informed.
“The FEMA 1999 is a central law governed by the central government,” the written reply stated. It pointed out, “Further, the instructions have been issued by the Ministry of Home Affairs and Ministry of Finance, government of India, to follow provisions of FEMA 1999 in this regard to finance department (debt management unit).” Once the DoE completes the entire procedure as regards the referred cases, it will make available details to the state government, the Chief Minister stated.