EDC/IDC

[giridharSRS]

Hi Friends,

We rcvd the demand of DC (EDC+IDC) @ Rs.422/- (Earliear @ Rs176/-) & EEC @ Rs.75/- in addition to the DC.
Our's allotment is in P8, while other pockets is been charged @ Rs373/- of SRS Pearl Independent Floor.

Just wanted to confirm you any of you from P8 has been rcvd the same rate of demand.

I braught the EDC rate from Directorate CTP, Chandigarh, the rates are in Lac Per Acre, so dont know exactly on what basis we can the exact EDC to pay.

One more thing, one of my collegue has purchased in RPS, Savan (High Rise) as Re-Sell, there EDC is been revised from Rs.131/- to Rs.107/- and he rcvd a Credit not against Enhanced EDC amount.

So, dont know exactly for EDC, what is the basis of different areas/sectors???????

[dheerajjain]

Dear Gridhar

EDC charges depend on various parameters very important one is licence year. EDC charges does NOT depend on sector in Greater Faridabad. Later is the licence year, more will be EDC charges. So, RPS Savana which got licence in 2006 will have considerabely less EDC charges than that with project receiving a licence in 2010 (gets increased 10% compoundedly). So, first please check with SRS, your tower is covered under which licence?

[giridharSRS]

Hi Dheeraj,

I appreciate your response.
Though I will try to get these information related to license n all from SRS, since you are telling that it got increased by 10% compoundedly, so can we able to compare the rate of RPS @ Rs.107 to the SRS @ Rs.422.

Our booking is of July 2009, BB Agreemnet is of Sep2010. So without the approved licence, how can they proceed to BB agreement what they signed us in Sep10.

Wt I rcvd from DTCP the EDC rate:
Old=35.45Lac Per Acre, New=77.47Lac Per Acre.

thanks,

[PROMOD MAL]

Dear Dheeraj ji n all GFWA Members

Pls Suggest me what i will do regarding the enhanced EDC FROM Rs.176 to Rs.373/- per square feet
my unit p3-31b in Pearl independent floor of SRS
On before 5th July 2012
LIC is not ready to pay this amount

thanx

promod malviya

[dheerajjain]

Hello Gridhar

RPS rate of total EDC is Rs 236/- approx. Rs 110 you are talking is only enhanced EDC amount. Compund this amount by 10% 4 times (as Mr. Satija informed that your tower is 2010 licence) and the rate increases to Rs 345 per sq ft. Add interest of 15% for 1 year (about Rs 50) as builder is raising demand after 1 year of issue of notification and add IDC amount (about Rs 18). Rate of total EDC comes to be aouut Rs 412 per sq ft which is close to what your builder is demanding. Amount looks large but that is exploitation by DTCP/HUDA/Haryana Govt. who have done no development and yet doubled EDC amount. That is the reason why GFWA has writ filed in High Court of Chandigarh to get enhanced EDC rolled back which is totally unjustified.

[dheerajjain]

Sorry, there was miscalculation. Interest of 15% will be applicable only to enhanced EDC amount since you have already paid original EDC amount of Rs 176. Also, you can demand interest from SRS on original EDC amount since you may have paid this amount in 2009 and builder can only deposit that amount in 2010 when licence was granted. So, interest parts may cancel out. So, approxiamate right demand of EDC/IDC should be Rs 345 + IDC charges. (around Rs 365 per sq ft)

[giridharSRS]

Hi Dheeraj,

Thanks for the clarifications, So can you please sugess how to convince SRS for EDC@Rs.365/SqFt in place of Rs.422/-

You conclude equal EDC of our pocket-P8 to rest P1-P7. I think the licence Year/No. for P1-P8 should have same, accordingly the EDC charges should be equal. Even you expressed earlier in other topic.
What I said by Mr. Ashok-SRS, that licence for P8 is different from P1-P7...!!!

Can you plz suggess, what we should of the current demand Dtd:5thJuly...

May I have your e-mail ID, I will send you a letter/price break from one of my friend of RPS, wt I mentioned above...

thanks,

[dheerajjain]

There are 2 licences granted as informed by SRS buyer in other thread (2009 and 2010). It is possible that your tower is in 2010 licence. But, being in 2010 licence gives you argument that you deposied EDC in 2009 but builder deposited in 2010. Hence, interest of 1 year becomes due on builder which will reduce your EDC of over Rs 400 to make it closer to other towers in your society. RPS calculations are already shared by RPS buyers some weeks back and available on forum