1. What is Aurora Housing Scheme?
Aurora Housing Scheme is a never-ever opportunity for the faculty with eight and above years of experience to own a house free of cost in an exclusive gated community on the day of joining Aurora.
2. Where is the proposed Gated Community located and what are its salient features?
The proposed gated community is located 20 Kms from Hyderabad, having 50 acres of land allocated for teaching staff, 5 acres for non-teaching staff, and 5 acres for international school. The gated community is located in a serene, calm, and lush green environment and will be having facilities such as a business complex, multiplex, club house, gym, spa, swimming pool, yoga hall, sports complex, tutorial house, convention centre, 50 bedded hospital, park, walking track, etc.
3. Is there connectivity to the Gated Community through road, rail, and air?
Yes. The gated community is connected through road. The nearest railway station is at Ghatkesar which is at a distance of less than 5 kms. The nearest airport is Rajiv Gandhi International Airport, located at Shamshabad, Hyderabad, which is at a distance of less than 50 kms and can be reached in an hour through Nehru Outer Ring Road.
4. Who are eligible for Aurora Housing Scheme?
Faculty with eight and above years of experience in Engineering / Management / PG and willing to join or give their consent to join Aurora on or before 28-02-2017 are eligible for the scheme. The same applies to faculty who have worked with Aurora earlier for six years and above and are now willing to rejoin. All the existing faculty members who have put in six years and above experience in the group are also eligible for the scheme.
5. When are the faculty expected to join Aurora to become eligible for the scheme?
The faculty members who are willing to join Aurora under the Aurora Housing Scheme should join or give their consent to join on or before 28-02-2017.
6. What is the last date for applying for the faculty positions under Aurora Housing Scheme and will there be any extension?
The last date for applying is 31-01-2017 and there would be no extension of deadline.
7. Are the existing faculty working with Aurora eligible for the scheme?
Please refer to Question No. 2.
8. Are these benefits extended to faculty who want to rejoin Aurora under this scheme?
Yes. The faculty who have worked with Aurora for six and above years and wish to rejoin Aurora are eligible under housing scheme.
9. Is the scheme completely free of cost or will be there be any hidden costs?
There are no hidden costs in the scheme and the undivided land and the flat are allotted at complete free of cost.
10. What are the conditions for both wife and husband to join Aurora under this scheme?
If both the wife and husband wish to join Aurora under this scheme, they will be allotted a flat one level higher than their eligibility. That is, if wife and husband are willing to join as Senior Assistant Professors, then they will be allotted a flat at Associate Professor level and so on. However, only one flat is allotted to wife and husband together.
11. Will there be any commitment from the faculty if availing the scheme?
The faculty members who are joining Aurora under its housing scheme should commit to work under the organisation for at least 10 years from the date of allotment of flat.
12. Can the faculty join Aurora without availing this scheme? If yes, what additional benefits are they eligible for?
Yes. The faculty who join Aurora without availing the housing scheme benefit will be sanctioned a monitory benefit upon completion of every four years after joining the organisation. However, they need to join before 28-02-2017, or at least give their consent to join, on or before that day.
13. Will the house be allotted on the day of joining Aurora?
The faculty will be allotted a undivided land share at the time of joining and a flat will be allotted within two years from the date of joining or upon completion of construction of flat, whichever is earlier.
14. What are the conditions to be met by the faculty to own the flat?
The ownership of the flat will be transferred to the faculty after completion of 10 years of service in Aurora from the date of allotment.
15. If due to any reason the faculty member who availed the housing scheme benefit would like to leave the organisation breaking the bond period, what are the conditions applicable?
In such situation if a faculty has put in upto 4 years of service in Aurora, he/she should pay total cost of the flat to own it. If a faculty has put in more than 4 and upto 6 years of service, he/she should pay 75% of the total cost of the flat. If a faculty has put in more than 6 and upto 9 and half years of service, he/she should pay 50% of the total cost of the flat. If a faculty has put in more than 9 and half and less than 12 years of service, he/she should pay 25% of the total cost of the flat.
16. Can the faculty who are allotted a flat under Aurora Housing Scheme give it for rent to others?
No. It is mandatory for the faculty to reside in the flat allotted to them. Along with all the amenities in the gated community, Aurora will also be providing transportation facility to the faculty to and from their workplace. Their children will also be provided transportation to their school. Aurora will make the living of faculty in the gated community very comfortable with complete peace of mind.
17. After completing the required service, will the faculty have the right to sell the property?
Yes, provided the terms and conditions of the Aurora Housing Society are met. The property may be sold only to engineers or teachers.