Somnath , Gurgaon
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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.

Latest Answer: 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.

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