Property
Querist :
Anonymous
(Querist) 16 September 2011
This query is : Resolved
Hello,
Does anyone knows about the arzoo creations..i heard that it is development plan of building from central govt.at different-different places...and they are providing a flats to needy people who do not have their own house...against that central govt.charge half price of the flat..and they gives possession after 10 years...
can some one please guide me regarding that is it true??
prabhakar singh
(Expert) 16 September 2011
Here's how the scheme works:
Every adult Indian citizen who himself/herself or any member of his/her family, (Family includes Spouse, Parents and lineal descendants.) does not own a residential dwelling in to name, within the designated region (the region declared by the Samiti where scheme is implemented), shall be considered eligible for membership under this scheme. Membership shall be terminated if the abovementioned is found to be forged.
The Samiti will decide broad categories of memberships depending upon the response to the call for memberships. Each category shall be formed into a Co-operative Housing Society or any other association as per the provisions of the law in force in the designated region.
The society or association will appoint an Architect, strictly on merit.
The proposal for acquisition of land will be submitted to Competent Authorities. The land fir the projects under this scheme if purchased from the Government of the designated region to avoid price escalations in the open market. The expenditure for acquiring of the land is incurred by the association or society.
On completion of all legal formalities the land is acquired in the name of the society.
After acquisition of land the society shall approach financial institutions by way of mortgaging the acquired land or in the form of home loan (slab wise). The society will have to comply with all legal formalities before availing the financial assistance. The processes will be executed by the society appointed legal advisor.
Thereafter the society shall appoint professionals for engineering, legal, finance and audit etc.
The society then enters into the Development Agreement with the appointed developer through its appointed legal advisor.
The development plan is then submitted by the society to competent authorities.
On approval of the plans payment (slab wise) to the developer shall be made.
On completion of construction the application for the occupation certificate is filed by the society. No possession will be granted without this procedure.
Possession is the given to the members.
The project has to be completed within a maximum period of 18 months from the date of sanctioning of the Development Plan.
