When we at The MMS speak about one among the most important profit making business the concept of running a petroleum pump can't be left behind. So we are visiting see the A 2 Z on a way to start and operate a petroleum pump India.
It will be a touch long but interesting to read. LETS START The procedure and formalities for opening a petroleum pump business in India is as follows:
Eligibility Criteria for Opening a petroleum Pump in India the Government of India has founded certain criteria that has got to be met before anyone can start the method of opening a petroleum pump in India:
The owner/owners of the petrol pump business should be citizens of India. just in case of an NRI applicant, he/she must have lived in India for quite 182 days.
The minimum regulation of the applicant needs to be 21 years and also the maximum ordinance should be no over 55 years. Birth certificate proof is required.
For a personal residing in rural areas, the minimum educational qualification required is 10+2 certification. And, for people residing in urban areas, the minimum educational qualification should be a university degree certification from a university that's recognised by UGC. For applicants who belong to CC1 category, a tenth certificate is required and for CC2 category, a ten +2 certification may be a must.
Applicants belonging to the liberty fighter category are exempt from the foundations. Minimum investment of Rs 15 lakh or more required to get dealership in rural areas. Minimum investment of Rs 2 crore or more to get dealership in urban areas. The chosen business location shouldn't make up excluded or blacklisted zones.
Land Requirement Just like with mobile towers, the land for petrol pump needs to be chosen as per the analysis of the petrol companies. These petrol companies usually issue advertisements about sanctioned land locations, so you would like to confirm your chosen area falls thereunder category before proceeding with the applying. you'll also have to make sure you meet the below land criteria.
The land must be either owned by you or leased for the amount prearranged by the oil dealership. You need to confirm all the legal documentation of the land is in situ for the verification process. The area of land required should be a minimum of between 800 sq meters to 2000 sq meters betting on the situation. Land chosen should be developed and leveled and simply accessible from the road.
Investment and charges To open a petroleum pump business, you want to have an honest investment capacity to start out with. There are two sorts of charges for opening petrol pumps in India. Rs 12 lakhs for ROs for rural areas and Rs 25 lakhs for ROs in urban areas, though the number may vary from company to company. Your funds are going to be acceptable within the below modes: National Savings CertificatesBondsShares of listed Companies in Demat FormMutual fundsSaving account fundsBank deposits. Cash, jewellery, accounting balance won't be considered for investment during this business.
Application for License The next step is to get a license for opening a petroleum pump. For this, Oil Marketing Companies (OMCs) give out advertisements either on their official website or newspapers to line up petrol pumps across different locations. Interested candidates have to:
Buy a form for Rs 100 (rural areas) and Rs 1000 (urban areas) online and duly refill the accurate details like personal ID, mark sheets, land details and upload the specified documents on the chosen oil company’s website. Obtaining Certificates
Once the licence is sanctioned, the subsequent step are going to be to get certain certificates and permissions before building the petrol pump infrastructure. Permission from the Municipal Corporation and Fire Safety Office NOC from the licensing and other concerned authorities Location Certificate
Obtain commercial loan for assets Needs One can get a loan for petrol pump from banks, NBFCs similarly as digital NBFCs. So। I hope you prefer my answer and appreciate my effort. Thnx
