Petrol pump operations are regarded as among the more profitable industries in India. However, most individuals in the country are unaware of the procedure for obtaining a fuel pump. We have discussed the entire procedure in this blog.
According to recent estimates, India has approximately 65,000 fuel stations. In conjunction with such fuel pumps, three public sector oil companies, Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum Corp Ltd (HPCL), and Indian Oil Corp (IOC), had announced plans to establish new fuel stations in India.
The new plans and avenues have opened up several new opportunities to establish fuel stations in India. Many individuals in the country are unaware of how to open a petrol pump due to a lack of appropriate knowledge.
Eligibility Criteria
- The individual should be an Indian national or a Non-Resident Indian (NRI) who has lived in India for a minimum of 180 days prior to registering for a fuel station or retail outlet.
- The individual’s age must be between 21 and 55 years old (with few exceptions for relatives of freedom fighters).
- As evidence of birthdates, the application must include a copy of his or her tenth-grade report card.
- The application for the SC/ST/OBC class needs to possess a 10th passing mark sheet, whereas the candidate for the general section must have a 12th pass certificate.
- If the individual wishes to operate a gas station in a city, he or she has to be a graduate.
- In the cases of freedom fighters, the minimum qualifying standards do not apply.
Investment Requirement
To open a petrol pump, the application must prove the capability to commit a least Rs.25 lakhs for standard fuel stations and Rs.12 lakhs for remote petrol stations. Investments finances can take these various modalities:
- Savings accounts, deposits with banks/registered companies/ postal plans,
- National Savings Certificates, and other similar instruments
- Bonds
- Securities of publicly traded businesses in Demat form
- Mutual Funds
It should be noted that cash, jewelry, and other items for which possession cannot be verified will not be regarded. Furthermore, the account’s current balance will not be evaluated. For stocks, mutual funds, and securities, only 60% of the worth will be assessed. Acquire the property appraisal certification from a Professional CA.
Online Application Process
Here is a detailed step-by-step description of making an online application for any individual who is eligible and wishes to apply for a Petrol pump in India.
- Go to Petrol Pump Dealer Chayan’s main site.
- On the site, click “Register Now” and fill out a form to make a profile.
- Sign in with your private username and password and go to the homepage and click on “Available Advertisement.”
- Choose the title and location of your chosen organization.
- Choose a local location and click “Apply Now.”
- From the drop-down menu, choose “Individual” or “Partnership.”
- Fill out all of the relevant information, submit a picture and sign, and then hit “Submit.”
- Applicants will then be automatically forwarded to the payment webpage, which necessitates that you pay 10,000 to complete the procedure.