The Opportunity
Keeping in view the interest of people to get affordable housing in Delhi, the society had decided to purchase the land in the P II Zone.
Project
For the project we intend to enrol members for the construction of approximately 250 residential units. This will not only ease the burden of land cost but also that of common areas and utilities.
Availability of Membership
Membership is open. Allotment & approval of membership is purely on first come first served basis. Members who pay full land cost will be given preference.
Member
How to become a Member
Membership is open. Allotment & approval of membership is purely on first come first served basis. Members who pay full land cost will be given preference. Apply for membership on a prescribed form along with Rs.100 as share money and Rs.2400 as annual subscription charges.
Pay the land share money as per size of the apartment chosen along with membership application form.
All payments are to be made through a Cheque / DD in favour of “Jeevan Vihar Welfare Society”.
Membership will be granted after due verification and confirmation of information as provided in the application form.
Surrender of Membership
On receipt of written application from the original member following amount shall be refunded.
Refund: Regarding Land Cost, construction cost etc., full amount shall be refunded to the member when any new member replaces him/her, then only he/she would get his/her money back.
Transfer: The member can transfer his/her membership without paying any charges.
Sale: NOC will be required before selling.
Payment Schedule
Payment towards the land cost will need to be deposited immediately along with the application. Once construction commences a Construction Linked Payment Plan (CLPP) will be designed and all members shall adhere strictly to the said plan.
Cost Escalation
The land cost is fixed as on date. There will be no escalation on the land cost parameter. With regard to construction cost, we have taken into consideration our architects’ estimations, based on possible prices of construction material in the year 2016/17. However, any major escalation in the basic cost of materials will be factored into the costing and shall be shared by all members proportionate to the category of flat chosen by them.
Development Cost
Any development cost that may be levied by the Govt. shall be charged extra and borne by the members in a uniform manner.
Maintenance Cost
Actual maintenance cost shall be arrived at once the possession process is complete.
Projected plan for execution of the Project
The society has already drawn up a plan for time bound execution of the project. The total time frame for the completion is pegged at 5-6 years, of which the initial two years would be utilized for development of land procured and thereafter the construction of the flats, etc., is pegged at 3-4 years. However this period shall commence from the date of possession of land and not from the date of registration of Society.
Estimated completion and offer of possession
Going by current indications we have reasons to expect construction to commence by 2016/17. This being a new project area with completely open lands, we estimate a completion time of 36-48 months from the start of the project.
Bye-laws of the Society
The bye-laws of the Society have been approved by the Registrar