IMPORTANT CIRCULARS FOR ALLOTTEES

• Buyers must deduct TDS @ 1% for properties above ₹50 lakhs (Sec 194-1A).
• No TDS if cost ≤ ₹50 lakhs. Deduct TDS on each installment.
• Applies to full sale amount even if multiple buyers/sellers involved.
• PAN (IRWO: AAATI0400L) is mandatory for both parties.
• TDS to be deposited with Form 26QB within 30 days.
• TDS certificate (Form 16B) must be issued to seller.

Projects: Jaipur Ph.III, Kota, Sonipat Ph.II

1. IRWO Members
2. Blood Relations of Members (with co-ownership)
3. Employees from:
   • Central Govt/PSUs
   • Armed Forces
   • State Govt/PSUs
   • Nationalised Banks
4. Other Indian Nationals

As per IRWO Rules delay charges are payable by member in case of delay in payment of installment by more than 7 days from the due date. Rates of delay charges are indicated in the project brochure. Keeping in view the rate of interest charged by banks on housing loan, rate of delay charges was revised @ 9.50% p.a. from 1-4-2018 onward Members are aware that as per IRWO Rules, in case of delay in payment of two consecutive installments, DUs allotted to them are liable to be cancelled, after issue of notice for 60 days followed by 30 days. However, if a member makes a request for extension of date of deposit of installment, to enable them to arrange funds, then the date of deposit of installment is extended considering merit of the case. However, this is subject to payment of delay charges from the due date of deposit of installment upto the actual date of deposit It has now been decided if the allottee do not pay installment within 6 months from the due date of deposit of installments, whatsoever the reason may be, he will be liable to pay delay charges @ 9.50% p.a. alongwith penal charges @ 3% p.a. from the due date of deposit upto actual date of deposit. However, this will be without prejudice to cancel DU allotted to allottee on account of non-payment of installments. This comes in force with immediate effect.

Membership fee will be nonrefundable Rs.2000/- + GST as applicable to be paid online through the IRWO website.

For maintenance of the housing complex for the above period of one year, IRWO will collect, in addition to the maintenance fund (Para 23), amounts from the allottees at the rate of 2.0 per sq. feet of built-up area per month for one year before issuing the possession letter. If RWA is not formed within one year due to any reason, then IRWO will continue to charge the same amount (Rs 2.0 per sq.ft) for further periods of the year and so on from each allottee to maintain the colony till the colony is handed over to RWA.

The local rules and regulation, sale/transfer of the dwelling unit or plots may be permitted with specific approval of IRWO to members or to other than members without any time limit after possession.

In case of Transfer/Sale/Gift Deed following fee may be charged:-
i. Type I & II-Rs 20,000/- each by Transferer and Transferee.
ii. Type III- Rs 30,000/- each by Transferer and Transferee.
iii. Type-Iv –Rs 40,000/- each by Transferer and Transferee.

Members are aware that GST is made applicable on variuos goods and services which includes construction services also from 1/7/2017. As per GST Act GST is payable in the follwing type of services at the rates indicated against each, Please click herefor downloading details

Relevant Instructions
Format in which Information is to be sent to IRWO through email
Aallottees remitting dues by RTGS must ensure that the Sender to Receiver Information – item (vi) of IRWO's instructions is sent immediately to IRWO by post or preferably by email to support@rwo.net to enable us to link the remittance. The information may be sent both if the RTGS request is handed over personally in the Remitting bank and also if the transaction is effected through Internet Banking