HUDA waives retrospective interest on enhanced EDC

[govindsingh]

Hi,

It is a great news indeed. I just had one query on the amount which is being discussed above as interest.

I have a unit in Park Floors I. If I am not wrong BPTP has charged huge amount as interest in the enhanced EDC demand.
I have paid interest of Rs 170000 approx in a total demand of Rs 347000.
I am attaching a working in excel that I got from bptp. They gave a printout but I converted into excel.

What are your views on the amount and is this entire amount now reversed by HUDA because I saw in discussions people mentioning amount of 25k-30k as savings but what I have paid is huge.

Thanks
Govind Singh

[vinagr]

Dear Dheeraj, All
I too have held on to paying the enhanced EDC for last 6-7 months.
However I have written to RPS as to how much is my current outstanding to get an idea of the effect of the Interest waiver which I believe has been granted. I believe somebody was mentioning that there should be an effect of around INR 30 per sq ft because of this. Have you got any such revised letter from your builder yet?

[dheerajjain]

Hello @Govind Singh, that is a wonderful insight that you have provided by sharing excel sheet with calculations. So, I believe impact will be large (may be upto 50%) of upcoming notification by TCP. @WC members, please suggest, if someone bought a flat or plot in 2006, interest was being charged from that year onwards. Now, with revised notification, interest will be charged only from , May, 2011 making a huge impact.

[rajeevkishore]

I have received a demand letter recently from BPTP against my Plot.

Parts of the Demand letter :
"This is to inform you that, vide the above mentioned memo, earlier the EDC amount of Rs.1024/- per sq. yd.
was based on the interim rates of the year 2005, which now stands revised to Rs.39.76 lacs per acre
retrospectively w.e.f.2005. Thus, on account of the said increase, your EDC stands revised to Rs. 2578/- per
sq. yd. (Rs. 3083/- per square meter)."
"Plot Buyer
Agreement we request you to pay a sum of Rs. 235,815.00 towards setting up a Sewerage Treatment Plant
and an Electric Sub-Station."
"In view of the above, we hereby request to make the payment of a sum of Rs. 368,298.00 being the
differential amount of enhanced EDC along with other charges total amounting to Rs. 604,113.00 within 30
days from the date of this communication failing which interest @ 18% p.a. and Holding Charges @ Rs.5
per sq.yd per month shall be applicable."

Now in view of the latest development and HUDA order, what amount should i really pay to BPTP ?

Rajeev
9810073055.

[dheerajjain]

I believe it will be better to hold on enhanced EDC payments because soon, TCP is expected to come out with a notification announcing retrospective interest waive off. Thereafter, builders have to revise enhanced EDC demands and then, decision of payments can be taken. Also, refunds can be claimed once notification comes for people who have already paid enhanced EDC demands.

[rajeevkishore]

@Dheeraj Thanks for your prompt response.
I understand that the waiver by HUDA would be only on the interest part, which would be around 20% of the enhanced EDC demand !!

Would we be liable to pay the enhanced EDC amount - after deducting its interest part !?

Is there any court case in progress against this enhanced EDC demand ? Please update on its status, if possible.
Should I wait for this court's judgement on EDC, or should i pay now.

If i pay now, and if judgement comes against the builder, what are the chances of getting our (EDC) money back.

[RSHYAMGARG]

Congratulatios ! Now fight for reduction of Internal Development Charges being charged by builders on the higher side. If any body has collected the calculation under RTI, please post the same on this site.

[preet]

Thanks to all members!!!
Preet

[dheerajjain]

Yes, we are liable to pay enhanced EDC charges after deducting interest and provided builders are transparent in EDC collections. So, if Govt. has demanded Rs X, then builders should take from us Rs X only and not 2 times X. This part also has to be taken care by Govt. since builders are collecting these amounts on behalf of Govt. For enhanced EDC complete rollback, case filed by GFWA is ongoing in High Court. If verdict comes in our favor, then certainly Govt. has to return back enhanced EDC collections to builders and builders have to then pass this money back to individual buyers.

[ysingh11]

Dear Forum

I have a query...

I had paid 133750/ enhanced EDC charges to Omaxe for possession of Omaxe Heights flat in Oct 11. So in this present scenario, shall I go to Omaxe and ask for refund!

Kindly suggest the way out!

Regards

Yadavendra

[mikesab]

I am in the same boat as Mr Ysingh11. Can someone suggest a way out?

[pramodnet74]

I also paid the Rs.180000/- enhanced EDC charges to SRS Royal Hills. I asked SRS but they have not recieved any kind of notification for interest wave off.

Please advise me what to do

[dheerajjain]

Refunds can be claimed only after the notification comes from Department of Town and Country Planning. Notification is soon expected to come.

[ajub]

Thanks dheeraj for your mail.

Kindly inform us as soon as u get any any information about the issue of notification.

I too have paid my EDC because of climbing cumulative interest.

regards
amit

[naresh_dhawan75]

Can we get a soft copy of the notification so that it can be sent to KLJ ?

Thanks
Naresh