Welcome To GOWO

GENERAL RULES FOR HOUSING PROJECTS

	GOWO endeavours to provide affordable housing to retired and retiring Govt. Officials, to enable them to settle down after retirement. To achieve this objective GOWO has signed a comprehensive MOU with IAHS Pvt. Ltd. which in turn ties up with various builders and developers. GOWO does not construct any properties on its own.

	PROCEDURE FOR APPLICATION:

	i.	Members desirous of applying for a specific project are requested to go through the details of on the project on the website. These are updated from time to time.
	ii.	Application form can be downloaded from the website and after details are filled in, the completed application form is to be couriered/ delivered to the registered office or liaison office, along with the registration amount.
	iii.	The Registration Amount, in all cases is part of the overall cost of the specific property, is to be paid in favour of IAHS Pvt. Ltd. GOWO payable at New Delhi through At par cheque/ Demand Draft / Pay Order only.

	RECEIPT OF PAYMENTS:

	i.	Once the cheque/ draft of registration amount is credited into the account a receipt for the same will be issued and sent to the mailing address of the applicant.
	ii.	Applicants are requested to update any change of contacts – viz. mobile number, land line, email address, postal address as and when it takes place.

	WITHDRAWAL FROM A SCHEME/PROJECT: Any member is free to withdraw from any project at any time. Rules by GOWO management committee / project team as applicable shall apply, on a case to case basis. However, it shall be understood by the members that GOWO is a not-for-profit organization and that all funds are earmarked and used for specific projects. Despite genuine efforts by GOWO to refund as soon as possible, it may happen in certain case that due to constraints the refunds may get a little delayed. Members are kindly requested to bear with such delays. Refund can be made only after their property is sold to the next member.

	POSSESSION & OWNERSHIP: Members will be given a notice of two months to take over the allotted unit, provided he/she has completed all formalities, paid all the dues, executed all the Deeds and obtained a Clearance Certificate from GOWO.

	TRANSFER/ DISPOSAL OF PROPERTY : `In Himachal Pradesh the properties are on lease hold basis, convertible to free hold buyer/ member has to apply for conversion from lease hold to free hold. GOWO assists in that clearance. Members are free to re-sell / transfer their properties to others, provided legal and financial clearances from GOWO are obtained in writing, prior to the sale of the property.`

	CANCELLATION : of Flat Due to non Payment of Installments. Kindly note that when members make payments to builders directly or through banks, there is no way GOWO comes to know. We only come to know when there is a problem. Recently it has come to our notice that one of the builders gave legal notice to 1 GOWO member and cancelled the flat without keeping us informed. The member also did not keep us informed in time and we were not able to help him and his flat got cancelled. Members are advised to make timely payments and respond to Builder calls, emails & letters.

	COMPOUNDED INTEREST PAYMENTS DUE TO DELAYED PAYMENTS. `All Members are advised to make timely payment of installments to the builder by due date. Any delay in payment of installment invites penal interest at the rate of upto 24 % per annum for the delayed period. Penal interest charged by builder if not cleared in time will get compounded and accumulated to be paid at the time of possession.`

	STEERING COMMITTEES FOR EVERY SOCIETY. A lot of our members have made very pertinent suggestions which will need to be looked at before and after possession. Steering committees for every society will comprise about 10 members will be made from members themselves. 5 of which will be senior serving officers and 5 locally available retired officers. This group can determine the issues of common interest that need to be taken up with the builder or need to be tackled from other resources. This group would need to get established atleast 6 months before due date of possession. They can then coordinate the problems of the members with the builders. GOWO will give all possible help & assistance in this regard.

	PROBLEMS ON POSSESSION. `It is best that all members check for interest accruals at the earliest and clear it with the next installment itself. Many builders will give a sympathatic ear to your issues if members are giving them a cheque of next installment in time or before time. By neglecting / ignoring repeated calls for installments and delaying payments, the issue is sure to crop up at the time of possession. Possession will not be given by the builder unless the interest amounts are cleared.`

TERMINATION OF ALLOCATION / ALLOTMENT : If the payment is overdue, interest will be charged up to 24% and management reserves the right to terminate registration and cancel allotment / allocation of the unit without any notice. If any payment / installment is delayed beyond 3 months.

DISPUTES: All suits and legal proceedings of any kind against the organisation shall be instituted in the appropriate court in Delhi notwithstanding the location of the property, which may be the subject matter of dispute.

GENERAL SCHEDULE OF PAYMENT: Members will be required to pay installments on self-financing basis. Adjustments in payments and schedules may become necessary, commensurate with the progress of construction. Members will be intimated of the changes as they occur. The payments will be on call. Which is to say that GOWO will update and inform the members through letters and emails it is always endeavoured to complete the construction and handing over within 36 months. Specific payment schedule will revolve around the BBA signed between Builder & Buyer & payments will be made as per call from Builder.

MODE OF PAYMENT: All payments will be made by at par cheque/ Bank Drafts/ Cheque only.

MUTUAL EXCHANGE OF DWELLING UNITS: Mutual exchange of type of DUs, during the currency of the scheme, or specific floor/ flat, after the draw has been conducted, may be permitted within the same scheme, or schemes managed by GOWO. This will be taken as case to case basis.

AMENDMENTS TO THE RULES OF THE ORGANISATION: The General Body is empowered to amend, alter or delete any of the Rules, as well as the Memorandum of Association. General Rules as applicable and decided by the management committee may be modified from time to time in the interest of the societies and members at large. Members are requested to understand the limitations & restrictions of GOWO that deals with the intricacies, complexities and legalities of construction/collaboration/Joint Venture which are always aimed at the benefit of the members.

ACCEPTANCE OF APPLICATION: GOWO has the right of final acceptance of an application, its registration, booking and allotment of the dwelling unit and garages/stilts.

ARBITRATION: GOWO is NOT JUST providing a service. It is attempting to take on a huge social cause and address a shortfall that exists for the masses. GOWO in no way can be held responsible for any claims of damages which may arise due to any reason whatsoever, including any commission or ommission, by GOWO or its employees. However, All suits and legal proceedings of any kind against GOWO shall be instituted only in the appropriate courts in Delhi, notwithstanding the location of the property. All the arbitration proceedings/hearings shall be held in Delhi only.

MISREPRESENTATION OR SUPPRESSION OF FACTS: If an applicant has given false information or suppressed certain material facts, or has transferred the rights of the dwelling unit in any manner whatsoever, his/ her application will be rejected, and the registration/booking of dwelling unit will be cancelled without making any reference to the applicant. He/ she will also be debarred from participating in future schemes. In such cases, allottees will pay penalty as prescribed under the heading “Cancellation Charges”

Cancellation Charges on Withdrawal from Any scheme: To withdraw after paying initial Rs 1,00,000. A cancellation charge of Rs 5000/- will be payable on cancellation - after paying 10% installment. At the stage of Builder Buer Agreement, Once the money has been paid to the builder/ contractor the cancellation charges will be upto a maximum of 10% of the cost of property and the refund will be made to the member cancelling his property, only after the money is received in full from the new allotee or a member in the waiting list. Sometimes it becomes necessary to even cancel the registration of a non paying member - in order to ensure that the construction goes on schedule and the society and other members don’t suffer.

DEPARTMENTAL LOANS/ LOANS FROM BANKS:

GOWO will give full support to get all loan approvals for projects and members from any agency of their choice. However, the admissibility of loan is dependent on the repaying capacity of the borrowers and the co-borrowers opted by the beneficiary. The period of loan varies from 5 to 20 years. Repayment will, generally not extend beyond retirement.

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Co-borrowers: Earning members of a family like wife, son, daughter, father and mother can join as co- borrowers for increasing the amount of loan.

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Loan is generally disbursed only after applicant has invested his own share of usually 10%-25% in full.

All Details given in the website are tentative & subject to change and may Have minor errors& mistakes despite all due degilance and care being taken by us.The final offer of flat and details will be as per the builder buyer agreements (BBA) with the builder.

You come across a mistake kindly bring it to our notice

DUTIES & RESPONSIBILITIES OF GOWO: For Government Officials and their families only:

i	AFFORDABLE HOUSING : Getting a house at a cheaper rate than the market for Govt. Officials’ and their families specially for retired and retiring Officials.
ii	TRANSPARENCY: GOWO believes in total transparency in terms of cost to all members this will be done by providing maximum information in Newspaper advertisements / Brochures / websites as well as e - news letters. Should any member need any further clarification GOWO will be happy to provide the same thru emails or phone.
iii	REGULAR UPDATES TO MEMBERS: Giving regular updates to members about progress of construction will be provided to help all especially our out station members.
iv	FEED BACK FROM MEMBERS: To maintain contact with members, obtain regular feedback from them and continuously improving its working.
v	BANK LOAN: Providing assistance to members in getting bank loan by getting documentation.
vi	REFUND IN CASE OF CANCELLATION: Refund of money with minimum deductions to members who cancel their bookings, provided they have been paying their installments on time.
vii	TAKING OVER THE HOUSES: To assist members to settle down and form RWA. Till then to take up common grievances with the builders on behalf of the members.
viii	RENT AFTER POSSESSION: Helping members- especially outstation members, in renting out their house after possession, if desired by them.
ix	ASSISTANCE IN SELLING THEIR HOUSE: After possession offering assistance to members to sell their house if they wish. This will specially help members who are outstation and need help in local area.
x	INTERIORS: Organizing additional wood / modular kitchen / civil works on demand which individual members find it difficult to do on their own.
xi	ANY OTHER ASSISTANCE: Any other assistance on a case to case basis – if requested for by the members.

DUTIES & RESPONSIBILITIES OF IAHS : I understand that IAHS is an investment/ trading/marketing company engaged in bulk buying from developer and selling in retail to the public. I understand and accept that IAHS responsibilities are limited to the following:-


i	AFFORDABLE HOUSING ::Getting a house on a cheaper rate than the market.
ii	BANK LOAN: Assistance to members in getting bank loan by getting documentation from builder/ developer.
iii	REFUND IN CASE OF CANCELLATION: Refund of money with minimum deductions to members who cancel their bookings, provided they have been paying their installments to the developer/builder and IAHS on time.

BUILDER’S RESPONSIBILITIES: I have understood that following are the responsibilities of the builder/ developer:


i	APPROVALS: To obtain all approvals from concerned departments and respective Govt. Agencies.
ii	LEGAL OBLIGATIONS: Fulfill all legal requirements for the smooth construction of the projects.
iii	HOME LOAN: Providing proper assistance and help in getting Home Loan.
iv	SIGNING OF BBA: Signing of Builder Buyer Agreement with the member.
v	PEACEFUL POSSESSION: Provide peaceful possession of flats as per agreement to individual buyers.
vi	QUALITY CHECK: Coordinating quality checks at project sites.
vii	COMPLETION CERTIFICATE: Arranging of completion certificate from competent government authority.
viii	REGULAR UPDATES: Builder will provide regular updates as to the status of construction.
ix	TIMELY POSSESSION: Timely completion and possession as per MOU with IAHS and BBA with individuals.

For complaints and suggestion please email on:

gowo.society@gmail.com