SCO Plots FAQ | SCO Plots For Sale in Gurgaon

 

Q. Who all are eligible for the scheme?

Ans. All Resident-Indian Individuals, NRI’s, PIO’s as well as Any Companies, Trusts, Business Organizations etc. as per Govt. Policies are applicable.

Q. What all locations are available under this Scheme?

Ans. These Schemes will come in various sectors of Gurugram.

Q. What can I build on my plot?

Ans. Plots can be used to build multi-story commercial building utilizing 100% ground coverage under standard design for Shop or commercial use purpose.

Q. How do I apply for the scheme?

Ans. This is a free and voluntary survey to analyse the demand pattern and market price for various projects to be launched from time to time. Efforts will be made to inform the people who register for possible allotments and schemes on a project-specific basis. Please fill your details in the given survey form and submit.

Q. Can I build and sell/rent each floor of the building independently?

Ans. Yes, you can use these floors for self-use, lease/long term lease. Policy for floor-wise sale is under discussion and consideration.

Q. What all infrastructure will be there in the plotted scheme?

Ans. 24*7 Water Supplies, Electricity Supply, Community facilities as per colony approval, Proper Road infrastructure, Parking, Green Areas, Community Toilets

Q. Can I avail a loan on this plot?

Ans. Yes, loans are available from leading financial institutions for plot and construction as per the eligibility of the individual, but 25-35% of margin money is required from you as per discretion of Bank/Financial Institutes. You can repay in 8/10 year installments while you construct and lease/sell.

Q. Will EDC/IDC or GST be levied under this scheme?

Ans. EDC/IDC or GST will be included in the Agreement of Sale, as per RERA approved format, which is approximately Rs. 30,000/- per sq.yard.

Q. What will be the Stamp Duty charges applicable to these Plots?

Ans. Current Stamp duty rates are 5/6/7% for females/couples/male buyers. Currently, registration fee and other charges are approximately 35000/- per conveyance deed.

Q. Is there any Time limit for the buyer to construct on the SCO Plot? Who shall get the Occupancy Certificate or Completion Certificate (OC/CC)?

Ans. The Developer would be allotting and giving possessions of commercial plots with pre sanctioned standard design. Once the buyer has constructed the SCO as per approved plans, the buyer will have to individually apply for the Occupancy & Completion Certificate for their Individual Plots. Occupancy certificate is granted after a minimum 25% construction is completed while completion certificate will be after completion of 100% as per standard approved design.

Q. Can I make changes to the floor plan or elevation?

Ans. The buyer would have to build as per the standard design and approved plans by DTCP and NOC provided by the developer. Uniform elevation and façade will be maintained. If any changes to floorplan are made by buyer, same shall have to be done without changing elevation.

Q. How soon will I get possession of my plot?

Ans. Immediately after completing payment formalities and registration of RERA agreement or Bank Loan and disbursement towards plot payment. This may also be immediate as per the buyer’s ability and development status or development works in the colony. It can take a few months as per the agreement between the developer and the buyer.

Q. Who will maintain the common area services?

Ans. Developer/MWA(Market Welfare Association) will maintain the services.

Q. Under which different commercial uses can I utilize the built up SCO?

Ans. The commercial plots can be used to develop Offices & Shops like Retail, Restaurants, Pubs, IT Offices, Shopping Marts, startups, company offices, entertainment etc. as per policy and norms of Government.

Q. Do I need to build all the floors as proposed by the developer? Can I build lesser floors and add more floors later?

Ans. You can build minimum of 25% for taking part Occupancy Certificate. However, it is advisable to construct all the floors as per the approved building plans to extract maximum benefit from the scheme and to also take completion certificate as per the approved plan, and co-share cost.

Q. How much is the extra area in the colony?

Ans. 35% of the area is plotted; rest of the area is open for parking facilities and green area, as per sanctioned plan.

Q. Are these plots freehold?

Ans. Yes! these plots are freehold.