Payment of Increased EDC/IDC - SRS Residency

[divya]

Dear all,

Now , we know that the next hearing is on 1st November.

For most of us , those who have not received the possession , the last day of payment for increased EDC/IDC is 25th September.

Please discuss and decide on the next step.

Either we pay as per the calculation done by Mr Kulbhushan (200 psqft).

Or , we pay them entire sum as demanded ,which later gets adjusted in the balance payment.

Or, we do not pay them at all.

Would request the core team to please guide us on this issue. We in anyway are very thankful to them for their contribution.

The SRS members who have paid and those who have not paid( last date has passed), may share their views as well.

Regards
Divya

[sendtomanish]

Hi Divya,
You should first ask EDC breakup to SRS in writings clearly mention that you would not able to pay and no liability of interest unless you will get breakup of demanded 291 EDC psf.
We met and requested to SRS last Staurday,they promised to give today now deferred till Mon/Tue.
Personally I agree with Kulbhushan advice.Rest we can discuss on Sunday 11 Spet Town park meeting at 1.30 pm.

[divya]

Dear Manish

As and when you hear from SRS regarding the breakup of EDC, Kindly share.

As you said they promised to give this either today or tomorrow. Else, I will send another reminder by tomorrow EOD , so that we can quickly take our decision on the payment.

Regards
Divya

[divya]

Dear Manish

Do you have any update on the EDC breakup from SRS.

They have not even responded to the my email, so have to send the letter only as already suggested, as 25th sept is already approaching.

Regards
Divya

[jiba123]

Hi

I got the following reply from SRS

Suresh Arora suresharora@srsparivar.com to me
show details Sep 13 (1 day ago)

Sir, As there is no stay on demand of enhanced EDC by the Court. Directorate of Town and Country Planning has not granted us any extension for payment of EDC and interest is levied on delayed payment. Hence we are helpless and cannot extend the date for payment of enhanced EDC. You yourself shall be responsible for non-payment or delay in payment of EDC. So, please make the payment of demanded enhanced EDC in time Regards Suresh Arora

Regards
Jibananda

[sendtomanish]

Hi
Did you ask the breakup of enhanced EDC Rs 291 psf.I have sent below letter and waiting for reply.

======================================================================================
Mr. Rajesh Singla, Dated: XXX.09.2011

SRS Real Estate Ltd.,

SRS Multiplex, City Centre,

Sector-12, Faridabad (Haryana)



Ref.: Unit I.D. No.XXXXXXXXXXX - X (XXXX) Bedroom in ‘SRS Residency’ in Sector – 88 Faridabad.



Subject: DEMAND for Revised EDC



Dear Sir,



This is in reference to your letter number nil dated 09 Aug 2011 on the subjected matter. I would like to inform you that please send me the copy of Memo No. DGTCP/ACCTS/2011/803 in which DGTCP has asked for an increased EDC & IDC rates, share the calculation sheet(breakup of of Rs 291 psf) based on the developed project area and audited copy of EDC deposited by yourself so far to DTCP office.



Without receiving any copy of the above required documented as asked by me, I would not be able to make any payment against it or not be liable to pay any interest on pending amount till SRS provides the EDC calculation to my satisfaction.

Please take note of above and send your response within next 3 days.

Thanks,
XXXXXXXXXXXXXXXXXXXXXXXXXXXXX

[tarsona]

Hi,

I have flat in C6 in SRS residency. Though I have not received letter for payment of increaed EDC charges, but what all members are deciding about the payment of this amount.

Regards,
Tarun

[Ashish Arora]

We thank you for providing the speciman of the letter to be submitted to SRS Residency. We would like to know about the following points:
1. To whom this letter should be addressed.

2. Do you have any further update or anyone who have got the break down of the EDC Charges as demanded by SRS. According to the update of 8th of September, the next hearing is schedule for 1 November, then, why SRS replying on 13.09.2011 that there is no stay on demand of enhanced EDC by the Court. Directorate of Town and Country Planning has not granted us any extension for payment of EDC and interest is levied on delayed payment.

3. Is this not the responsiblity of SRS to update all their flat owners.

4. If at all it is necessary to pay by the deadline and they should mention / declare in their letter of demand that please pay the amount as per the demand raised and same may be adjusted if court reduce the EDC increased amount.

5. This kind of update is needed & expected from SRS to maintain the transperancy from their end and will definitely help them gain the trust level from all of us.

6. What all efforts are attempted by SRS to have a better way to access our flats. It is worse than any other area to reach SRS, specially on a rainy day.

7. Their efforts in this regards and information sharing with all the flat owner will increase their credibility and they will be the most benefited with this in a long run by setting an example for their upcoming projects.

[AAN111]

Good logic for not paying EDC till court decision for Park Grandeura:
Thread http://www.indiaspaces.com/blogquestion ... mtid=28265

Increased EDC
Posted by Sanjay Singh 14 Sep 2011
I am also sitting on same boat . Here is my thought and need other should give their view on these point

1) To pay increase EDC to builder we need take housing loan and next day onward interest on loan will start.
2)I feel we should wait till decision on increase EDC will come out from Court ? Consider a case if you paid Increase EDC to BPTP and thereafter if stay order comes then BPTP will hold money with them until unless full decision will come and we need to pay interest on housing loan bank.
3)If court decision come either to reduce EDC or not increase EDC then it will not easy to take money back from BPTP And if BPTP will return money then they will not pay any interest and during same time we need to pay interest to housing bank.
4)If BPTP will says that they adjust money in future demand again we need to pay interest during that time and most of case next demand it possession time , and no one know when possession will come .

I feel that we should hold to pay Increase EDC till court decision should come out . I understand that if decision not come in favor of flat owner then we need pay interest to BPTP for that time duration but we cannot believe BPTP they as our past experience. Any comment will be appreciated ?