THE CONCEPT
Everyone has a dream to own a Holiday Home away from the hustle bustle of the city amidst nature. Wehooo is an innovative platform to fulfill this dream with a revolutionary and disruptive concept of holiday home co-ownership. Wehooo is inspired by the trending concept of co-ownership and sharing. With Wehooo you will co-own your fully furnished holiday home at a fraction of its cost with all the benefits and advantages of complete ownership.
- Co-ownership of your holiday home with a small investment starting @ Rs. 1 Lacs
- Flexibility to use your share of stay (10 Nights)
- Fully furnished holiday home with all modern amenities
- No hassles of management, maintenance and house keeping
- Rental income possible
- Stay close to nature and nurture your hobbies
Wehooo holiday home projects are selected on stringent policies as follows:
- Ready to move in properties
- All legal approvals in place
- Reputation of Developer
- Close to nature – Hills – Greenery
- Well connected to Road/Rail
- Developed infrastructure
- Recreation facilities like club, swimming pool and other ammenities
- Pleasant and non-polluted weather
- Close to market and medical facilities
- Value for money
The typical investment in a weekend home starts at Rs. 30 Lacs and goes up Rs. 200 Lacs, depending on the location of project and type of holiday home. With Wehooo you can co-own your holiday home with investment as low as 1 lac for Studio and goes up to Rs. 20 Lacs for luxury villas.
THE OWNERSHIP STRUCTURE / INCLUSIONS / BENEFITS
Well, that’s the biggest USP of Wehooo. Each holiday home is co-owned by a maximum 36 people and the investment and ancillary expenses are shared by 36 co-owners. This is the reason the co-ownership of Wehooo holiday homes starts at Rs. 1 Lacs only.
Each holiday home will be owned by a Private Limited Company (PLC) with a registered sale deed. And all 36 co-owners will own equal shares of this PLC, thus giving you complete right of your property proportionate to your share holdings.
Your Wehooo holiday home is completely furnished with interiors, white goods and electronic goods.
You become an equal shareholder of PLC which owns your holiday homes. Your investment includes
- Co-ownership of holiday home
- All taxes including stamp duty, registration
- Legal fees for acquiring the property
- Booking engine and convenience services
- Society maintenance charges for 3 years
- Interior and Furnishing of your holiday home
- Cost of legal and other charges for formation of PLC which owns the holiday home
- Company compliance of PLC for 3 years.
- Management of maintenance of your holiday home for 3 years.
- Housekeeping, Electricity, Utility Charges for first 3 years.
- Wehooo premier club membership
- Coordination & execution of co-ownership, furnishing , house keeping , company formation, legal documentation, compliances , taxation , audit etc.
You have to pay the following charges:
- Repair and maintenance of holiday home, furniture, pest control and other services. These will be equally shared by all 36 shareholders.
- Repair and maintenance cost called by the society. These will be equally shared by all 36 shareholders.
ENJOYING THE PROPERTY
Each of 36 co-owners can enjoy their holiday home for 10 Nights in a year for their lifetime. This is done in line with the study which found that people normally go on 5 to 6 short holidays in a year totalling 10 to 15 days.
If you want to enjoy more days you have an option to invest in multiple Wehooo units. For example if you invest in 2 Wehooo units you will get 20 days in one year for lifetime.
You can use your holiday home of any 10 Nights of the year. There is no restriction of using on specific days, dates or weeks.
The minimum usage per stay is 1night and maximum usage is 10 per stay.
Wehooo has the booking platform on its website. The booking of any specific date will open 90 days in advance and the booking platform will show the real time availability of your holiday home. You can log in with your user id and book your stay online through Wehooo website.
In case your own holiday home is occupied by other co-owners, you can enjoy your stay at a similar holiday home which is available in the same project.
Once you make your 100 % payment, we will complete the co-ownership process of your holiday home which will take 45 days. You can use your holiday home after 45 days.
After 3 years co- owners have 2 options :
- Option A – PLC can give the contract to Wehooo or it’s authorized representative to manage the PLC and holiday home with mutually agreed commercial terms and period.
- Option B – Co-owners can manage the PLC and holiday home on their own or outsource the same to an agency of their preference.
WEHOOO SERVICES / GIFTING / RENTING
- Co-Ownership of holiday home in a simple but legal process
- Interior and furnishing of holiday home
- Maintenance and management of your holiday home
- Management and compliances of PLC
- Management of booking/cancelation/renting/gifting process
- Housekeeping services
- Support and assistance during your stay
- Recreational facilities
- Food and beverage assistance
- Renting of holiday home
Yes of course! Subject to the rules and policies of booking and use being followed.
Yes you certainly can rent your share of stay by using the Wehooo booking engine and get the rent. Wehooo will charge the fees for this service.
There is no fixed rental returns by Wehooo but Wehooo will facilitate rental bookings of your holiday home on specified days submitted to Wehooo from your share of days on best effort basis. You will be able to see all the rental transactions of your holiday home online.
Rent payouts will be on quarterly basis.
EXIT OPTIONS
There are following option available if you want to sell your share of holiday home.
- The other co-owners, their friends or relatives can buy your share
- Rental company / operator can buy your share
- We will help you to sell your share
- You can sell through your contacts
When you sell your individual share, it will attract short term capital gain tax if it is sold within three years. If sold after three years, long term capital gain tax is payable on the gain as per current Income Tax Act provisions. Any changes to the same will prevail in the future.
HOLIDAY HOME OPTIONS /MAINTAINANCE / LOAN OPTIONS
We have following options available for you in Wehooo and it depends on the Wehooo community you choose :
- Studio Apartment – 2 Adults + 1 Kids ( Below 12 Years)
- 1 BHK Apartment – 4 Adults + 2 Kids ( Below 12 Years)
- 2 BHK Apartment – 6 adults + 2 Kids ( Below 12 Years)
- 2 BHK Villa – 6 Adults + 2 Kids ( Below 12 Years)
- 3 BHK Apartment – 8 Adults + 4 Kids ( Below 12 Years
- 3 BHK Villa – 8 Adults + 4 Kids ( Below 12 Years)
The common amenities of Wehooo community will be maintained by housing society in which the property is situated, your holiday home will be maintained and managed by Wehooo or its authorized representative for 3 years.
Society maintenance charges for the first three years are included in the pricing. After 3 years the co-owners will have to pool in the society maintenance charges which may be around Rs. 100/- to Rs. 1000/- per month (for your share) depending on type of your holiday home
You can get personal loan to invest in your holiday home.
All maintenance, repairing and other cost will be equally shared by all co-owners.
Yes you need to follow rule and regulation as shareholders of the PLC which will be published on Wehooo website.
YES!!! Non-resident Indians can co-own and enjoy all benefits of co-ownership with Wehooo.
MISCELANEOUS
Wehooo is not a Time Share concept. In Time a Share concept you become a member for specific period of years and you get 7 days holidays during your membership period. With Wehooo you become a co-owner of your holiday home and get 10 Nights / 20 Nights holiday for life time.
Following table will give you the comparison between ownership of holiday home, Time Share concept and Wehooo holiday home
- Status Symbol / Pride of owning a holiday home
- Aspiration to own holiday home
- Spend quality time with family
- Tired of city life, need peace of mind, body and soul
- Nurture hobbies (Farming, Gardening, Trekking etc)
- Connect with nature
• Investment
• Retirement home
