EDC Issue

[a5shah]

Hi All,

As you are aware we had a annual meeting of GFWA on last Sunday and there we got a copy of DTCP notification issued to Shiv Sai for waiver of enhanced EDC and revised amount which they now owe to them.

We all having been trying hard to get the EDC calculation, which they have not provided till date, but with this notification it would mean refund of earlier collected amount or reduction to demand of EDC from people who have not paid yet. What is our action plan to take this issue with Shiv Sai.

Very recently Puri Constructions group had a meeting with the investor and the directors confirmed that they would not be able to handover possession till such time the entire EDC amount due from Puri to DTCP is paid. I don’t know how far this information is correct, but if it is true then Shiv Sai still owes a good amount of money to DTCP for EDC and they can delay the OC which mean delay in possession. What would be our approach?

Lastly today it is 26th April and as per commitment from Mr.Sandeep Gupat and Vikram Dhawan they would be able to offer possession by 30th April, which seems impossible.

All the above issues are concerning all of us and I think we need to re-group as we did in past to decide our course of action and then invite Shiv Sai management for a meeting.

Let me know what all your thoughts are.

Best Regards,
Arun

[a5shah]

Just one correction it is not waiver of enhanced EDC but interest on enhanced EDC has been waived off

[dpjindal]

Dear,
In the attached letter point No. 3 says excess amount due to reduction i the amount of Enhanced EDC as per the revised schedule in arrodance with the revised insturctions.
I have the detail of EDC calculations provided by Shiv Sai for Sai Park Apartments which is as follows:
old EDC Additional EDC per Acre Permisible Area Per Acre Additional Charge Per Sqr/Ft
104.44 lac 87.99 lacs 76230 Sqr ft. 109.24

old EDC Charged total EDC per sqr.ft
137.01 246.24

Now it is not clear, how much refund we will get.

Just one correction it is not waiver of enhanced EDC but interest on enhanced EDC has been waived off