How much EDC collected from Neharpar Faridabad since 2006 for Plotted and GH

[brandoo]

Today I computed total EDC collected from Neharpar Faridabad (Sector 75-89) by TCP since 2006.
Figures are:
Plotted Development: Total License given till 2010: 12, total area 789.57 acres, total EDC 459 crores.
GH: 702 acres, total license: 56: total EDC 1351.83 Crores, total EDC: 1811.46 Crores (areas are taken at 58.21 Lakh and 192.42 lakh respectively for Plotted and GH).
If we compute EDC for 2011 and 2012, how much it would be.
Question arises:
What is the amount that government have spend on the development of the area.

NOTE: http://tcpharyana.gov.in/ (Source of Info)

[dheerajjain]

That is a very useful information and thanks for your efforts. Target EDC collection since 2010 is coming out to be Rs 2270 crores (Approx Rs 23 billion). If we add heavy interest that DTCP charges from colonizers, amount will easily cross Rs 3000 crores. Out of this, only around 700-800 crores are being spent by Govt. on providing EDC services. This once again brings to focus that there was no need by Haryana Govt. to raise EDC charges and demand enhanced EDC.

[brandoo]

Dheeraj Ji, Thank you for your kind acknowledgement.

Today I went back to excel sheet and included total projects in Neharpar Faridabad from 2005 to 2012.
Additional EDC for year 2005, 2011 and 2012 is: 450.74 Crores from 668.65 acres.
Total area: 2160.4 acres and EDC since 2005: 2262.204 Crores without penal interest and interest. If we consider interest rate of 15 % on EDC imposed on builders than this amount balloons to 3000 crores.
I have factored in EDC from various projects from Neharpar Faridabad i.e. Sector 75-89 and not old Faridabad.

Expenses by Haryana Govt. on development of Faridabad:
Metro: 1400 crores till 2014
Master roads for sector 75-89: 340 crores
Sewage: ???
Electricity: ???
Storm water: ???
Health Facilities in Neharpar Area: NIL
Education Facilities: NIL
Badarpur Flyover: 400 crores
Faridabad Gurgaon Road: 400 crores
Total cost of development: 2540 crores.

Hence we can say that Development of Entire Faridabad district is funded by the Neharpar Area (sector 75-89) which includes rail over bridge, bye pass road, Gurgaon-Faridabad road, even Badarpur flyover (400 corers). Here lies contradiction; sector 75-89 are left wanting for development no let me correct my self, basic facilities despite funding the development of Faridabad town in particular and Dist in general. What is it that is holding Haryana Govt in spending money that is paid by the home buyers of Neharpar Faridabad?
Why not government provide connectivity directly to NOIDA over yamuna. How much it will cost: 400 crores for 8 lane bridge+ 100 crores for road: total 500 crores.
If government spend entire amount on Faridabad's new sectors, it will act a catalyst and multiplier effect will be generated. More and more projects will come and more EDC and later on property tax.

Registration income: If we take 50 % max coverage (for GH it is 33-35% and for plotted it is more. In the Neharpar plotted development will account more 75-80 of total area. Will generate somewhere 1200-1600 crores for the HUDA.
Later on property tax will generate enough revenue to fund the development of backward areas.

[dheerajjain]

Hello Dear@shivsidh, Metro, toll controlled Badarpur flyover (no funding by Haryana Govt.), toll controlled Gurgaon Faridabad road don't come under expenses for Greater Faridabad sectors 75 to 89. HUDA by its own submission in honorable High Court at Chandigarh have indicated only 650 crores estimated expenses till now for development arising from EDC services.

[brandoo]

Dear Dheeraj Ji,
I am aware of the fact that Badarpur, Gurgaon-Faridabad road is not funded by the EDC but just assuming, even if it was funded by EDC money, still Haryana Govt will save money. Hypothetically I am assuming that even if government spend all the money for all the projects in Faridabad, it will save. At the moment, its not done.
My apology if I have conveyed other way round.

[dheerajjain]

Dear Shivsidh/All, it seems that EDC collected from Faridabad is getting diverted to Rohtak/Gurgaon which is illegal. How can cost of developmental works in Rohtak (CM's consistuency) far exceed EDC collections in that district? Today, there is a headline in Hindustan Times that Haryana CM is planning to buy out Gurgaon expressway, from where thousands of crores will come?

[brandoo]

Looks like gurgaon residents are going to have gall time with expressway without toll tax. I wish same for Faridabad but who cares. CM has Gurgaon to showcase as investment model to people, faridabad to exploit and get EDC and Divert these funds to Rohtak.

[dheerajjain]

Haryana is able to collect 192% of revenue mop-up target in 11th Plan. It is not surprising by way of huge tax in name of EDC it collects and still development is extremely slow. Central Govt. should also look at revenue utilization and constitut an inquiry.

http://www.thehindubusinessline.com/new ... 156665.ece

New Delhi, Dec 2:

Haryana has topped the chart of the States which have significantly exceeded revenue mobilisation target during the 11th Plan (2007-12).

According Planning Commission’s latest report on state finances, Haryana mopped up Rs 64,123 crore during the five-year policy period which was 192.1 per cent of the targeted resource mobilisation of Rs 33,374 crore in the 11th Plan.

The report indicates that majority of states have failed to meet the projected planned resources as collectively they could fetch only 92.5 per cent of target. Planning Commission has projected that all states would collectively garner Rs 14,12,029 crore in 11th Plan but they could manage Rs 13,06,296 crore, which was 92.5 per cent of the targeted projection.

It appears that states felt the heat of global slowdown and the states such as Gujarat, Maharashtra, Delhi, Punjab could not achieve the projected target. About eight states in the country including Haryana, Assam, Odisha, Karnataka, Goa, Bihar and Arunachal Pradesh could mop up more than their targets.

Gujarat and Punjab could garner only 95.6 per cent and 87.5 per cent of the projected targets respectively in 11th Plan. Uttarakhand could get only 52.5 per cent, which is lowest. Delhi was given a target to mobilise Rs 54,799 crore, but it could manage Rs 45,250 crore. Gujarat was to mop up Rs 1,06,918 crore but it could manage Rs 1,02,226 crore.

The other North Indian states including Punjab, Jammu & Kashmir and Himachal Pradesh managed to mobilise Rs 25,298 crore, Rs 21,593 crore and Rs 10,844 crore. The resource realisation by the three states was also lower than their targets.