Buying property in Nepal

Hi what about Indian person Indian can buy property in Nepal.I read on internet Indian can buy property in Nepal easily and nepali can buy property in india easily according to 1950 sign documents

I agree with you. You speak from your experiences. You know a lot about Nepal. Nepal is the most corrupt country in the World.

xxx

i have so many question but i dont know how to settle it
if a foregner need to buy property they have to married or have relation on it what if a nepali citizen want to buy house what is the rule for that
some please share  some information with me ,,

Stacy, If a Nepali wants to purchase property it is quite expensive in the Kathmandu Valley or anywhere there is road access. The land just to build a house on can cost $20,000. By that I mean it's just enough land to build a house, no room for a garden. They have to pay 13% interest when they borrow money, too!

They way they do the building homes is to purchase the land and pay it off completely. Then they can get a construction loan. They build the foundation and one floor where they live until they can pay it off. Then they build another floor and move up. The bottom floor is usually for a small business, which helps to pay off the loan. Many women run a little convenience store or tailor shop while the husband works in Kathmandu. The women also do the farming.

Fortunately for Nepal, they do not allow foreigners to grab up the land from the people. Are you wanting to expatriate to Nepal? PM me if you need more info or a referral to someone in Nepal. I know many lovely, honest Nepali (which is not necessarily an endorsement). No matter what country, immigrants/expats need to be extra careful.

Hi Stacy,
The point is any nepalese person over a certain legal age - being in his/her own country and citizen of that country - has all the rights - including that of owning property - which you as a foreigner do not have. So here we are talking about two totally different situations.
Individual ownership:
So point one, if you are single and unless you are married to a nepalese person, you cannot place the property in your name. Under present rules and regulations, you can rent or lease, but you cannot buy a property/house/land in Nepal and hope to place it in your individual name.
This often explains why some foreigners resort to placing the property in the spouse's name or some other relative, family person or other who hold nepalese citizenship.
I don't know your situation, status, or intentions as to how long you plan to stay in Nepal, type of visa you hold (short term/long term) etc but here is my purely personal point of view.
I could never recommend to anyone that they place a property in someone else's name in Nepal.
In Nepal or anywhere else for that matter, not all marriages are made in heaven and if you take that risk - which is your choice - be prepared to lose it all. In France, for example, you can choose the type of marriage contract and go for what they call "separation de biens" which means that in the event of divorce or split, the man takes back his property and the woman takes back hers, so there is no risk for either party.  But this is not the case for Nepal, where there is no choice...
Think hard before you act is my best personal advice.  Better safe, than sorry!

Hello & Namaste,
I want to know about buying land property in ktm. So how much it's cost per 1 aana in certain time.?

Hi Kartsun

Depends on where you want to buy.

Post earthquake the price of land swelled up, taking the price of all beautiful empty places by twice the actual amount. Lately, the government regulations of not allowing banks to invest in land did put a check in the growth.

Price can range from as little as 3 lakhs per anna (Nepalese currency) to as much as 2 crore per anna.

That depends on where you plan to buy. The best way for you would be to catch a real estate agent, if incase you cannot find the real seller directly.

Real Estate agent because if you go through people, the agents keep on multiplying, and the price of the land rises for no reason, or you unknowingly would be put to pay a higher amount. But, if you have a trust able person around, seek his help and advice. Nepalese are decent people, though not all.

Good stay buddy! Cheers

Let me clear a few issues covered under this topic point wise with explanations.

1. You are not allowed to buy land as an individual foreigner. I would not advise you to buy land as an individual company even if you are doing business here.

2. Do rent. It is a lot more reasonable than buying land. The rental return on homes in central Kathmandu is probably 2%.

3. Land is ridiculously expensive in Kathmandu & many major cities. Example:

a.1 ana  (i.e. 342 square feet) of land in places like Durbarmarg/New Road will cost you $800000-1000000 (YES you saw that correctly - One mIllion dollars!).
b. Thamel will be about $500000 for the same amount of land.
c. All other areas along the Main roads vary from $100000-200000.
d. Residential areas inside the Ring Road (the road which encircles the inner city area) will cost you between $25000-$75000 for the 1 ana (a minimum of 1368.5 square feet or 4 anas can only be purchased for residential purposes).
e. Further outside ring road land prices are between $5000-$20000 for the 1 ana.

4. You will have to pay around 4% taxes on land purchases.

5. If you want to set up a partnership business please be very careful who you partner with. Try not to have a partner if possible. People here like all over the world will take you for a ride if you are naive about it. Nepalese are friendly but definitely not stupid or naive. Do not assume that they are when you go into a partnership with them. Nepalese are very good traders despite being in a land locked country with terrible governments. They have a knack for surviving in the most hostile business conditions. The system in no doubt corrupt so you have to be on top of things. Remember the same Judge or bureaucrat who may favour your Nepalese partner unfairly will just as likely favour you unfairly if you give them their "dues". Get a good lawyer who you can pay well and is not shy to deal with these crooks. The reality can be that bribing these crooked officials maybe faster and cheaper to the alternative (that is if you do not  have 20 years to win a case!).

6. You will find many Nepalese are just and honest and can be trusted, but do remember these are not the ones who stand out and the most keen to do business with you. Do your research, make sure the the chap is in tune with what you intend to do, make sure they are able to contribute equally to the venture and more if you are financing most of it. If you are the main person in the partnership - ALWAYS own 51% of your business (Not, 50.5% - 51% as a minimum!).

7. Regarding prices - Check the online real estate sites to see what the going rates are in the areas in question. These are almost always negotiable for everyone. Compare the prices of all sites and also in the real estate section of newspapers. Try and avoid middlemen.

8. Now that Nepal has had its Municipal elections, and is gearing up to have Provincial elections, I would guess that in a couple of years time things will get better as far as dealing with officials is concerned as they will be decentralised. We all hope we get more business friendly with less taxes and property rights for all.


Namaste!

Regarding whether Indians & Nepalese can buy in Nepal & India: Not true either way. You both require the permisison of the government for property purchases (the cabinet in Nepal & the RBI in India). Yes, in India Nepalese are buying property, but it is not legal without the RBI permission. So the government can freeze your property anytime. Already there are problems with the Modi government asking all to register their properties at their centralised office. For Indians to buy here it is even more difficult (not possible in the case of house & land).There is a provision now for buying apartments up to an amount of $250000 but not land. Illegal attempts to purchase land by Indians here (unlike in India) cannot be registered in their name by the land offices unless they have explicit permission from the Nepalese government.

Banks do give loans to buy land and build houses under their housing loans. So it is up to the person to decide how much loan he/she wants. Loans are given up to 20 years!

Regarding whether leasing is possible - Yes. Terms differ from case to case. But do remember although the term may say 35 years, the lessor can always find ways to terminate the lease if you do not follow the terms (This may cost the lessor but it is possible). Get a good lawyer to draw out the lease agreement.

If your parents are Nepalese and you have a 10yr visa.

I am assuming you have the NRN visa. Yes you can own property including land up to a certain  limit. You most definitely can inherit property from your Nepalese parents and keep it within the limit. If in excess you can sell it. Let me add even if you do not have an NRN visa you can inherit land from your parents (however you will need to sell it).

I love nepali people! What I love about you is that you always make things sound so simple!
Sorry to be blunt, but here you are making such mammoth assumptions to the point of totally unrealistic, bordering on the ridiculous. As written in these columns, only a tiny handful of foreigners succeed in getting so-called NRN visas. There are only about 18 visas of this type granted in the whole country, according to my embassy people here. A french friend of mine applied for one, and he is still waiting to get the next to impossible HOME OFFICE approval. He's now given up. What's the point?
Your second assumption, that of having nepali parents, just doesn't fit it or correspond with 99.9999% of foreigners/expats here.
Most expat/foreigners who read these columns want practical information, not hypotheses based on 1 out of a million kind of thing. Inheriting from nepali parents? am I reading correctly?
The truth of the matter has been clearly stated here in these column: the bottom line is NO, foreigners cannot own/buy property in Nepal!. BASTA,To lead people to think otherwise, and to give them false hopes, is a disservice.

no U can not...but after taking a passport..

A foreigner applying for and getting a nepali passport??
As everyone knows, there is no such thing as "double nationality" here - not tolerated.
It's a non-starter. Don't know any foreigner who will be willing in that event to give up his french, or swiss or american or british passport, in order to hold a nepali one.  Lunatics, maybe?

Jl1234 my answer was in response to an earlier question by a person with a NRN  visa and with Nepalese parents. BTW NRN visa stands for Non Resident Nepalese. Nothing complicated about it. Unless you're parents aren't Nepalese. Then you don't qualify for this visa. Obviously!

You cannot get a Nepalese passport even if you are a lunatic wanting to give up your French/German etc passport UNLESS you are a Nepalese citizen first. This is not even a discussion which is in play. I wonder what makes people simply assume such fairy tales?

Foreigners who have qualified for honorary Nepalese citizenship:
1. Boris Lisanevich
2. Sir Edmund Hillary
3. Dr. Toni Hagen
4. Ms. Anna Marie Spa
5. Barbara Adams

The earlier 4 were given citizenship by the then King and Barbara Adams later by the government.

These ofcourse were not your regular expats. They contributed significantly to Nepal's people.

Finally please note that all my answers are specific responses to questions already asked. Please let's not go astray.

Now you're talking turkey!
1. A Thai person asks a simple question as to whether or not she can buy property in Nepal, as simple as ABC? You are right, let's stick to the topic at hand.
2. You then proceed to provide perfectly valid information about land purchases and conditions most applicable to nepalis no doubt, but irrelevant really to the majority of us, plain and simple expats/foreigners. Fact remains that 99.99999% of foreigners are NOT authorized to buy property here
3. You now cite about half a dozen (6) persons who were granted totally exceptional status and as a result were conferred special privileges by the King and to the King's long time companion. I know because I had the privilege of knowing this person and was kindly invited by her to her house some years ago. Barbara was a great lady.  As I recall, she said she had the use of that quite beautiful house for life but never owned it! I also met both Sir Edmund as well as the owner of "Fire and Ice" in Thamel. Not too many people like her around.
4. No issue there, but the fact is that the King was sadly massacred almost two decades ago now and special well earned special privileges granted to half a dozen (6) persons hardly constitutes the majority of us - like this Thai person - who come to Expat to ask SIMPLE QUESTIONS and want simple answers, simple as that.
There was only one King
There was only one Sir Edmund to conquer Everest - and these other totally exceptional people.
Coming back - more down to earth - and 16 years later after the Palace Massacre, it will be interesting to see what the present more mundane present "Government" said to be composed of 600 kings as many nepalis now quip does for most "commoner expats" like us now or in the near future? We foreigners are all waiting with baited breath to be authorized to purchase property in Nepal.....

Could not agree more. Not all of us are RICH AND FAMOUS.

I have answered according the questions not just talked shop without knowing head or tail about the country. If you don't have the money it will probably be cheaper for you to buy land in the countryside in  the USA then in Nepal. And in the US foreigners are allowed to buy property.

1. Christine (who is Mauritian BTW & not Thai) asked whether they can buy land and I have said "NO in my 1."

2. MadagascarNow mentioned that land prices cost around USD 20000, this was to clarify it is a lot more! Try and go through the entire discussion! And if you as a foreign business wanting to buy property here it will cost you the amounts quoted. Its the same price for all. And 99.99999% do not want to know and are not interested in the questions asked specifically in this forum. I am just answering for the people who are participating in this specific forum.
3. This was to tell you that you are confused and  cannot get an NRN visa, foreigners are definitely not NON RESIDENT NEPALIS (this answer only applies to the NRN person (Ashong)  who asked this question) and you can only get a citizenship as a foreigner if your exceptional. And Barbara was not the King's long time companion (lol). She was one of the companions of the King's youngest uncle. I get amused at you "know it all people", who just parachute in and pick up on random gossip and place your own twist to it! Hilarious! Barbara was a nice lady and was granted her citizenship by the UML government in the late 1990's (the King would never have granted her the same although she tried getting it for decades). She has had her fair share of controversies.... no need getting into that. She lived all her life in the rented house in Naxal. Let us also not get into dropping our association with so and so.....I knew and know them all since I was a child (eg. My last lunch with Barbara was a couple of months before she passed away).

Again please stick to the topic and refrain from political rants.

P.S. If and when you are allowed to buy land and houses here just think of what the prices will be!  Simple demand & supply economics.

Like you say, if and when....

and a lot not only cheaper but SAFER too to buy in the USA, we all agree on that......given the state of the economy and political uncertainty in Nepal.

Good Information .Thanks

Latest report of the economy from nation's Central Bank sounds pretty bleak. On the basis of latest review period just released:
- Sharp decline in the incoming flow of those foreign currency remittances Nepal is so highly dependent on. Before Nepal had like a 7% growth and now that growth is down to less than 1%
- An alarming trade deficit. In latest review period, country imported foreign goods (with petroleum products topping list) worth Rs165.4 billion vs nepali exports of only Rs13.58 billion.
- Inflation rate rising to 3.4%
- Pressure on country's balance of payments`
Figures speak for themselves. Clearly, economic indicators are not pointing in the right direction and hardly conducive to investment.

Let me make this very clear, you are all wrong. Does anyone here ever actually read the legislation and acts that were passed by them in the World Trade Organization (WTO), it clearly address the issues on foreign investment and buying of property. Here is a website you can visit if you are interested in the truth.

Nepal Open

You've heard the man. After reading that valuable piece of information, and as they say in the good old US of A, one can't help but conclude that investment in Nepal is actually as easy as eating american pie!

and in England, we say proof of the pudding is in eating it! Live to regret it!

Any foreigner does not ,cannot own the property.,or the land it is built upon by law.Only allowed if he/she is legitimately married to a national of that country etc..(Similar to Thailand ,India property purchase system etc),..tempting as it maybe.You as a foreigner,''Can rent but never own.''
Read the available web info on property purchase ,and the law!...(regarding specifically foreigners.)

Also (read )what divorce implications/full entitlements by law etc that thus in the event of will be applied.

Do not ever forget..You marry 'her' and all her large poorer family too.,and what that entails.

Chotakuta is right. To even consider purchasing a property in somebody else's name? Anyone who does that in Nepal or other asian countries - be my guest - but those people should have their head examined! Better safe than sorry. Besides, if there are children, nepali children in this case will no doubt be the direct heirs of foreigner's estate in Nepal. And what if the foreigner has children of his own back home, what do they get?

If you wish to purchase property in Nepal.India.Thailand..then MARRY.But if you separate/divorce...be very aware..the (Nepalese) wife will be legally entitled to the property 100% not the husband.(All ways the foreigner) as by law!=Use Thailand as an example-IT APPLIES.100%.If children born to the marriage etc etc..they inherit! Also.
                                                                               Be aware of this.
The matrimonial/divorce/property laws differ in other countries.READ about them thoroughly before any marital considerations./property purchase..even rental etc.& burdening financial debts incurred!

EG:-There are numerous stories of marriage disasters in Thailand with foreigners.Financial Loss added to 'heartache'. Many foreigners are 'Wealthy', seen as such (by many countries) etc...Many Thai are poor!inescapable poverty etc.Unless they (can) marry a foreigner = MONEY.=increase in 'status' for her and..her family & a house...in her name too.One must also consider; is it a SCAM.
ALSO...
If you bring your new 'wife' to permanently reside in your own country! Will 'she' have friends?Be able to 'socialise' with others.Language ! communication issues? employment?..Be accepted etc.and can 'you' afford for her & (children etc) to visit/see/the relatives= family holiday in her own country=YOU PAY the plane cost return. Can you afford the tickets for her parents to visit???=They can't!

LONELINESS/isolation just because ... is the biggest hurdle to overcome for her!
The grass is not all ways greener on the other side for many. FACT.BE REALISTIC.

I am nepali. With the money I have set aside, I can buy property in my own country if I chose. But at this point, to tell the truth, I'd much rather buy here - outside home country. It worries me too muchly to know that Banks in Nepal are now lending money hugely at 2-3 times the amount they are receiving deposits and some of my friends back home are even starting to talk about a possible credit crunch. Bit scary. If I invest, I invest. But not spekulate. I don't like to think I could lose my hard earned savings.

It still applies=You are still a 'foreigner'.The property purchase laws in Nepal still apply regardless.Marriage is the only legitimate route to property ownership.Marriage 100% favours the Nepali..if divorce occurs.To rent is the only way to extend your stay but be aware.If  you fail deliberately to renew (extend) your visa.=deportation=a criminal record!.This can effect travel to other countries+ REJECTION of visa application by that country at there passport control.

                                                                                  understand this!FACT:
You have NOT entered officially..'any' country until the passport is officially stamped!if it is not ,then by law you stand upon 'neutral ground' and not deemed by law to have legitimately 'entered 'the country.!=Treated as an illegal immigrant.100%.
IF..you are 'physically' rejected.Passport stamp REFUSED=Your passport will be immediately taken from you.You will be physically Coerced(ARRESTED & HANDCUFFED ) .Arrangements now made to immediately return 'the illegal immigrant.'....ASAP to country of 'TICKET PURCHASE ORIGIN!Only then will your passport now previously retained throughout the deportation procedure,.by the (1)authorities(passport control police etc etc)..it will then be given to (2)the plane captain to now retain your passport,until you have returned to country of ticket origin.Passport then returned to you upon landing .NO FINANCIAL REIMBURSEMENT for return ticket purchased will be given.CLAIM REFUSED.by the original ticket company.Your EMBASSY.etc.
                                                                                    but..but ..BUT!FACT:
If you had originally only purchased a single/1 way ticket...your passport will STILL be retained by your (1)countries passport control/ POLICE.(2) It will  then... be given to your embassy.& HELD indefinitely by them!.RETURNED ONLY when you have paid the cost (single ticket price) of being deported.If you don't.Passport held indefinitely by embassy  =You cannot TRAVEL ANYWHERE AGAIN.without a legitimate passport.
Deportation from any country is not to be taken lightly by anyone.It has repercussions that can be everlasting and effect future travel anywhere else.It will be RECORDED (Interpol)
Ask yourself this.
                                                                             IS IT WORTH IT.
A vacation in a countries deportation centre. just because you failed (with deliberation!)...to extend the visa.Their is no swimming POOL!in jail...and your face in the paper/on tv ,the news too maybe.A criminal record lasts for LIFE....and has to be DECLARED to obtain a visa /entry into another country etc etc.otherwise...deportation.Abide by the law.The legal system of any country etc may not be simplistic to attain your freedom.
It is ILLEGAL for a foreigner to own/purchase property in NEPAL.INDIA.THAILAND etc.unless married to a national etc.RENT only and be free of avoidable emotional hassle and extreme financial loss.

As for employment prospects there.....limited ...dog walker,.poet,beggar,tree huger,interior and exterior painter and decorator,landscape gardener,refuse collector,door to door salesman,submarine painter,swimming pool lifeguard,yeti hunter.window Double glazing installer,driving instructor,school zebra crossing guard,street lighting installer,fast food delivery driver,shepherd,AA & RAC breakdown service provider,custom avalanche installer,wool ladder weaver,lifeboat volunteer,miner,flag operator,ant collector,driving instructor,cigarette roller,vagrant ,cloud hunter..opportunities are endless.

I have been wondering about a contract for a 'Life Estate.' We have this in the US. Basically, it is a contract for use of the property for life, for as long as the person would be in Nepal. Then a small maintenance fee each month might work. A Nepali attorney would know, but they won't think of it on their own, even if it's possible.

Interesting point you have raised. It happens to be a matter about which I have some knowledge. I have no doubt whatever that what you are suggesting is do-able in Nepal, under the Contract Act of 2056, as amended notably in 2058, Muluki Ain and other legislation since then. It is therefore my strong belief that clear and concise Terms and Conditions (outlining duration, payment/dues, responsibilities, obligations etc) between the contracting parties for a property could be successfully negotiated prior to being put down on paper by a lawyer with experience in this field, then signed, sealed and delivered.  Typically, the nature of such agreement would take the form of a Long Lease Property Agreement between two parties, one being the "leasor" (presumably the nepali owner of the property) and the other being the "Lessee" (presumably the expat/foreigner) - so far so good.
But now we come to the crunch or possible hick-up, and this is where the difficulties are likely to develop. First, let us say that because a deal is do-able in Nepal, it doesn't automatically mean workable.
Why possible not to say likely difficulties? Here are my views:
1. In Nepal, it is clear that in such arrangement, the owner of the property (or Lessor) retains the all important legal "right of ownership"of same - that's obvious and fundamental. His title of ownership is a matter of record,  duly registered at the Land Registry.
2. The Lessee, on the other hand, being a mere "occupier" under that Lease has no such right(s) under the Muluki Ain. (besides, the nepali is in his home country, and here the foreigner is like they say here, a Non-Nepali person) - Besides, where is the copy of the Lease deposited, registered, kept or recorded? Agency in charge? Administered by whom?
3. And which of the two contracting parties is in a stronger position, under nepali law?  The proprietor who has "right of ownership" or the foreign tenant/occupier/rentor/lessee with "occupier rights"??
So all I am trying to say is that if the owner/lessor, who knows all this, wants to take advantage of this, nothing more simple for him, to violate the terms of that written agreement and make the lessee's life miserable. I know of one flagrant case where the nepalis waited several years and one day, out of the blue, and with no warning, the nepali owners sent a registered mail to the unsuspecting foreigner with an "Order to Vacate" the premises in 21 days (in clear violation of the Lease) - Get out!
I will spare you the details of the sordid saga which ensued, of what was  - in this case - but the fact is that the Lessor/owner committed a clear Breach of Contract, regardless of consequences and the prejudice this party was causing.
My point is that an agreement is only as good as the quality of the people who make it.
But if people are greedy or of bad faith or both,

I am sorry to say that:
1. Your good nepali lawyer can prepare a perfect  agreement, but it would be wrong to assume that the foreigner is well protected against any wrongdoings, illegalities, abuse, etc. under that Lease/Agreement.
2. If you go to court to fight the violators, the foreigner may have done nothing wrong as per his/her obligations under the Lease, but in Nepal, the cards are stacked against us in any legal proceedings that may ensue. Besides, I cannot recommend that people get themselves involved in costly, and long litigation that can last up to 7 or 8 years. Check with your embassy, they can be of guidance, I am sure.   
Here, we are not in the US or in EU and as many observers can confirm, it is not unusual for laws in this country to be interpreted in 75 different ways (and that includes the Contract Act!) In our country of origin, we have a good chance to get fair justice, if we have a good case. In Nepal, I regret to say there is too much corruption and it is not uncommon for people to buy judges.  Here, the irony is that the "good lawyers" lose court cases, and the "big bad wolf" lawyers eat the sheep.....! Without citing any names, I would say the legal system of Nepal is in fact a travesty of Justice. Chief Justice  Karki tried her best to put order in the system, but regrettably this great lady was ousted, and retired. Maybe she tried to carry out too much reform for peoples' taste.   
Conclusion: for all those different reasons, I cannot possibly recommend that foreigners enter into house agreement leasing agreements in Nepal. Good idea on your part, but not workable. It's an invitation for potential problems one cannot wish on anyone, and then have to deal with.

I do not think it is any different. 'Estate for life' may not be applicable.In fact i have not heard of this approach by anyone nor seen written confirmation via the WEB..to enable any foreigner to purchase property in any country  (India/Asia/Nepal etc.).by this estate for life route.

The problem is simple: In many countries the government owns the land!Not what is built upon it attitude.Applies in Thailand.
India; here...
I went to India (GOA) deliberately with the intent to purchase a property.Yes many offered there .Cheap & tempting etc.But after more enquiries upon my return (thankfully)..etc...
The estate company made it clear i could purchase legally(????) etc.Form an 'offshore company' to gain ownership.The deeds in my name.(?)-THIS IS NOT SO!
                 It is illegal for a foreigner to purchase property etc.
I found out...A person(Foreigner) had 'naively'proceeded to purchase a GOAN property etc.But when they ,after a few years had passed, because of curiosity...went to see/read the confirmation for registration of the deeds supposedly registered in their name (The land registry! )-There name OMITTED.Instead an INDIAN NAME registered on the deeds for there property...........The end result: They did not own the land after all as promised upon purchase etc.Which now had dire legal repercussions! concerning 'true ownership'AND future SALE of the property!
1)They couldn't change the registration!-(it is illegal for a foreigner to purchase property etc)
2) They didn't own the land after all..then WHO DID?=The person named in the registration,An Indian!Being a native etc..the developer=they legally owned the land=The property too etc.
3) They now could tried to sell the property...legally!To a foreigner!!!( informing them too of the land registration issue etc)..a chain reaction.The implications.WOULD YOU BE PREPARED TO NOW PURCHASE the property knowing this ? & the legal implications which apply and WILL BE applied.Which cannot be challenged!= It is illegal for a foreigner to purchase property etc.
4) They now faced the legal consequences +further repercussions which applied in full.
5) Sell the house yes! but WHO TOO?To do so was illegal..since 'THEY' did not legally own it...As for PROFIT.- ZERO.
6) When it all came to light..THEY WERE REFUSED ENTRY to GOA.!!!!!!Even to visit/use the property as a holiday home. Visa application now refused.They..had broken the law =it is illegal for a foreigner to purchase property etc etc)
7)They couldn't go to their 'property'...to maintain it etc..to enable any sale to now proceed by them etc etc.
8) The developer that originally oversaw the sale agreement etc...the LAWYER used to litigate the purchase etc KNEW THE LAW...(The deeds registration etc) =Theyl profited from the original illegal property purchase & again when it was sold.
The developer.. later now sold the property..to a native.Which was LEGAL.MORE PROFIT.Proceeds from which not GIVEN to the foreign owners.Since 'THEY' didn't legally own the property ,nor ever did (according to LAW!!)
9) As for the Foreign owners now refused entry ....Lost their dream property.,& LITIGATION Lawyers costs etc etc etc.They lost everything...
                                                 BE AWARE.BE WARNED.TAKE HEED.NOTHING HAS CHANGED.
It is illegal for a foreigner to own property in Nepal/India/ etc..unless by marriage etc.