Members desirous of applying for a specific project are requested to go through the details on the project on the website. Which are updated from time to time.
Application form can be downloaded from the website and after details are filled in, the completed application form is to be couriered to the registered office or liaison office, along with the registration amount.
The Registration Amount, in all cases is part of the overall cost of the specific property, is to be paid in favour of GOWO payable at New Delhi through Demand Draft / Pay Order only.
RECEIPT OF PAYMENTS TO GOWO:
Once the cheque/ draft of registration amount is credited into the account of GOWO, a receipt for the same will be issued and sent to the mailing address of the applicant.
Applicants are requested to update any change of contacts – viz. mobile number, land line, email address, postal address as and when it takes place.
ALLOTMENT:
Allotment will be made as per the final seniority list which will be updated after adjustments for withdrawals & cancellations. Allotment will be made in the presence of atleast 4 members of the management committee of GOWO. Specific requests for certain floors due to health reasons of certain members will be looked at compassionately by GOGO and other members are requested to understand and respect these decisions taken with a view to helping these constrained members/ families.
Applicants can apply for specific floors/ corner plots etc. as applicable to any scheme. Additional charges if any for specific requests, shall be intimated to members and shall apply.
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.
POSSESSION: 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.
OWNERSHIP: Joint applicant permitted at the time of execution of Transfer Deed in favour of a beneficiary, he/she will have the option to register the dwelling unit in his/her own name, or jointly register it with one or two relations out of the under mentioned:
TRANSFER/ DISPOSAL OF PROPERTY : Only in Himachal Pradesh the properties are on 99 leasehold basis, convertible to free hold within 5 years for which the member has to apply for conversion from lease hold to free old. GOWO assists in that clearance from CM HP office. In every other location properties are free hold. 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.
TERMINATION OF ALLOCATION / ALLOTMENT: In case of default in schedule of payment beyond 60 days, management reserves the right to terminate registration and cancel allotment /allocation of the unit without any notice.
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: Beneficiaries will be required to pay installments on self-financing basis. Adjustments in payments and schedules may become necessary, commensurate with the progress of construction. Beneficiaries will be intimated of the changes as they occur. The payments will be on call. Which is to say that GOWO will update the schedules on the website and inform the members through letters and all other means. All payments received by GOWO will be construction linked, however it is necessary for GOWO to attach a timeline both for the convenience of GOWO (to plan the construction commensurate to inflow of funds & for the members to plan his out flows).
FOR APARTMENTS/ BUNGALOWS : It is always endeavoured to complete the construction and handing over within 18 months. Specific payment schedule will revolve around the general & indicative payment schedule which will be is as follows:
Registration Amount
As applicable for a particular scheme. Usually 50000.00, Registration amount is adjustable against total cost.
1st Installment
15 % of total cost within 3 months registration
2nd Installment
10 % of total cost within 5 months of registration
3rd Installment
10 % of total cost within 6 months of registration
4th Installment
10 % of total cost within 8 months of registration
5th Installment
10 % of total cost within 9 months of registration
6th Installment
10 % of total cost within 10 months of registration
7th Installment
10 % of total cost within 12 months of registration
8th Installment
10 % of total cost within 14 months of registration
9th Installment
10 % of total cost within 16 months of registration
10th Installment
5 % of bal cost on possession - about 18 months
FOR PLOTS : In schemes where there are plots it is endeavoured by GOWO to deliver the plots within 1 year of application.
Registration Amount
As applicable for a particular scheme. Usually 50000.00, Registration amount is adjustable against total cost.
1st Installment
20 % of total cost within 2 months of registration
2nd Installment
30 % of total cost within 4 months of registration
3rd Installment
20 % of total cost on allotment - 6 months of registration
4th Installment
20 % of total cost within 8 months of registration
5th Installment
5 % of bal cost on possession - about 12 months
MODE OF PAYMENT: All payments will be made by Bank Drafts only drawn in favour of GOWO account. Payments in cash will not be accepted.
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.
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 land purchase and construction.
ACCEPTANCE OF APPLICATION: The 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 huge 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 the 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 : GOWO will deduct an amount of Rs 2000 / - per withdrawal and cancellation charges for members who wish to withdraw after paying initial Rs 50,000. A cancellation charge of Rs 5000/- will be payable on cancellation - after paying 10% installment. Usually GOWO doesn’t charge any penal interest for the schemes where GOWO itself does construction - on delayed payments. But 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.
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.
Loan is generally disbursed only after applicant has invested his own share in full.
