Buying flat in SEZ area

Q: I am thinking to buy a flat in the SEZ area on the Gurgaon Faridabad Road (made by ASF Insignia), would like to know if there is drawback of buying flat in the SEZ area? I found out there will be no registration rather there will be lease for 30 years and lease will be renewed every 30 years. Is the property value comes lower in SEZ area compared to other areas? what will be the procedure to resale the flat? What will happen if the SEZ area is de-notified / removed after few years, do I have to pay registration that time? Answers and advice will be highly appreciated.

Somnath , Gurgaon

5th April 2015

Buying property in Gurgaon-Faridabad Road, Gurgaon

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Hi Somnath,
As per my knowledge, this project ASF Insignia is only for clients like IBM, Tata Consultancy Services ,ERICSSION . Total land is dedicated to commercial purpose. So here in this project there are two zones , Processing zone & Non- processing zone. As per SEZ rules & regulation you can't register the property in your name. You can have that property in lease for 30 years. After 30 years you can re - apply for lease. Out side people can avail this plan in there non- processing zone.If any project is in non- processing zone then out side people can use that.

Karthik, Gurgaon

6th April 2015

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Hi Somnath,

As per my opinion, Processing Zone at ASF Insignia has been particularly outlined and assigned to advance fare arranged financial movement by making a globally bench-marked environment for business exchanges and operations. The zone offers various monetary and money related motivations, for example, charge exceptions, unwinding in taxes and custom obligations under the SEZ plan directed by the Ministry of Commerce & Industry, Department of Commerce.

Naveen, Gurgaon

6th April 2015

@ Somnath,

In my point of view, Non Processing Zone at ASF Insignia has business centers, recreational and private residential places subsequently making ASF Insignia a really coordinated & independent township, advancing the 'walk to work' idea and ideally mixing a working environment and a way of life that commends the genuine soul of recreation & high living.

Manisha Soori, Gurgaon

7th April 2015

Hi Somnath,

In this transforming Processing Zone comprises of three super IT/ITES office structures - Kings Canyon, Grand Canyon and Black Canyon, out and out commercial measuring more or less 3.5 million sq ft. The zone likewise underpins the production of private grounds and fabricate to suit offices for expansive occupants and Plazas and Podiums settled along a group road, open to each of the inhabitants and offering a full scope of recreational and stimulation offices.

Sukhwinder Kher, Gurgaon

8th April 2015

Hi Somnath,

In this non- processing zone :- From the passage to ASF Insignia and along a road on the southern side, there highlights 3 level A business structures obliging retail, lodging, business spaces and recreational offices. Also, private and adjusted flat pieces on the Northwest side of the advancement, give agreeable and advantageous convenience to around 1500 officials and partners.

Sujit, Gurgaon

9th April 2015

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