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Residential Land in Gurgaon
January 31 2012 , 07:44 AM   #1
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Residential Land in Gurgaon

Hi,

I'm new to this forum & not t all an expert in property. I have a question on buying Residential Land in Gurgaon & will appreciate if someone can answer. Here's the question:


I have heard that after buying Residential land in Gurgaon, you can not keep it un-constructed. I mean if I buy a Residential Land in Gurgaon, I need to construct it right away. Can someone pls let me know if there's such a regulation/property law imposed by the govt.


Thanks
January 31 2012 , 08:26 PM   #2
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Quote:
Originally Posted by SunnyC
Hi,

I'm new to this forum & not t all an expert in property. I have a question on buying Residential Land in Gurgaon & will appreciate if someone can answer. Here's the question:


I have heard that after buying Residential land in Gurgaon, you can not keep it un-constructed. I mean if I buy a Residential Land in Gurgaon, I need to construct it right away. Can someone pls let me know if there's such a regulation/property law imposed by the govt.


Thanks
Nor sure about private builders plots but in HUDA it usually 2+13 year from the date of offer of possession.

For example if the plot possession was offered in 2005 then you should construct by 2007 without any penalty but after that 13 more years allowed on payment of penalty which is about Rs. 20 the 35 per sq. meter per year.

roby
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