Demand for payment of enhanced External Development charges (EDC) for RPS Savana

[sendtomanish]

Unity is only power and GFWA members strength lies in unity only. we hope other builder will follow credit note pattern.

[rohitdatta]

Hi,

Today i got a revised demand of enhancced EDC @ Rs 121.30, amounting to rs 1,58,054 for 1303 sq ft flat. to be paid by 24th June 2012.

This time RPS has mentioned that unpaid EDC shall be treated as unpaid sale price of unit, to recover this company has its right to cancel the allotment.

So this is the new tactice builder is paying to get this EDC.

on other side there is no visible improvement in getting possession by December 2012.

so what's others stand on this revised demand sent by RPS? Pls clarify

regards
Rohit Datta
9920997517

[ratanbirkalra]

Notice for rescheduled payment of enhanced EDC @ Rs 121.30/ per sq ft is now being practically all RPS SAVANA investors? Last date for Payt is 24 Jun' 12.
Can we have common stand of paying/ not paying.
Regards

[mohd.ashu@gmail.com]

Hi,

I have also recd demand letter for EDC @121.30 Rs, asking to pay latest by 24-june-2012, What is common opinion of SAVANA Residents...

[sameer23]

RPS is charging at the rate of Rs 110.25 after the HUDA revised EDC rates decision.

[joshi]

Hi Sameer,

How come its 110.25 for you ? since all of us got a letter of @121.30 ?
it there a difference somewhere ? , when did you buy the property ?
Sorry for asking so many Qs ...

rgrds,
lovkesh

[anuj_bansal]

I think 121 is for people who have not paid the EDC while 110 is for those who had paid before the due date and will now get the refund. Remember RPS is charging interest @18% for late payment.

[dheerajjain]

From high level view, Rs 110/sq ft is looking a fair amount for enhanced EDC.

[lalitaarora78]

I also got a letter for enhanced EDC charges @ Rs. 121.30/- but what about the possession. i have already written to them that we are the sufferers as despite owing a house since last 5 years we have to live in rented property. further, we have to bear the interest on the money borrowed from bank without claiming any deduction u/s 24 of income tax act for interest on housing loan. Further, for new investors, RPS is bearing interest on loan but we have to bear it ourselves.

Can't we unite and go to the consumer court for our rights? At least we will be able to recover some interest for their delayed project.

Thanks,
lalita.arora@gmail.com

[anuj_bansal]

RPS has done the following calculations for EDC.

Cant comment on their conversion of EDC rate by HUDA in psft, but one issue I find is that they are charging interest from 2011-2012 and also the late payment interest. Why should we pay both of them. The interest charged by HUDA should be paid by RPS since they are charging late payment from us.

Any views?

Regards
Anuj

[dheerajjain]

Hi Anuj/All, calculations done by RPS are correct. With regards to Rs 5.3 psft interest charge, that is also correct. Please note that HUDA waived retrospective interest from 10.01.2009 to 25.05.2011 (date of notification). But, RPS issued letter in August/September. So, Rs 5.3 psft is that interest which is payable by customer. In my personal opinion, you should go ahead and pay enhanced EDC charges to RPS. You should keep your records clean. That also helps if you intend to file a case in Consumer Court with regards to much delayed possession and other issues.

[ratanbirkalra]

Sh Dhheeraj jain's argument of making payt of enhanced EDC, considering reasonability of interest and correctness of rate charged, makes sense unless others have different reasoning/logic/ belief.

Please express your opinion.
Regards
Ratan Bir Kalra

[aquaregia]

Dear Friends,

First of all let me clear that I have a property in BPTP Park Floors and not in RPS Savana. I am posting here since the topic of EDC and EEDC and other builders related problems are common to all the property holders in Neharpar area.

Currently my main concern is the PAYMENT OF INTEREST ON EDC or EEDC. Following Govt. orders are relevant:

a) HUDA order numbered 17903 Dtd 25/05/2011 regarding Increase in EDC

b) PF-37/5/32/2009-2TCP; Dated April 12th, 2012 regarding POLICY FOR RECOVERY OF EDC AND INTEREST DUES FROM COLONISERS IN CASE OF DEFAULT IN PAYMENT OF SCHEDULED INSTALLMENTS & RELIEF IN TERMS OF APPROVALS/ PERMISSIONS AFTER SECURING ADDITIONAL BANK GUARANTEE ETC.

c) Memo No.Misc-374/Vol-II/5/32/09-2TCP Dated: Chandigarh, the 4/5/2010

There may be more documents but I am referring to these only. Following points are worth consideration.

1). EDC amount and Enhanced EDC (EEDC) amounts were to be paid by builders to Haryana Govt.

2) Builders either failed to deposit this amount with Govt. or made a partial deposit.

3) It seems Govt. on its part allowed the builders to make payment in installments with some interest.

4) Builders are now recovering this interest amount from property buyers in Neharpar Area. I have heard news about some builder even recovering Bank Guarantee amount from buyers.

Now it is clear from these orders that the interest on EDC/EEDC amounts are to be paid by the builders on account of its failure to deposit the amount with Govt. No where in these orders it is mentioned that this interest amount is to be recovered from buyers. Even going by logic the conclusion, that property buyers are not reponsible to pay interest on such amounts which builders failed to deposit with govt. but collected from buyers, holds good.

I would like to share the views of all the members on this matter and to decide the future course of action in this regard.

Warm Regards,

Vikas Bansal
(vikkibans@gmail.com)

[aquaregia]

Dear Friends,

I am continuing from my previous post.

Now HUDA is charging from 2011 instead of 2009. This interest is on the EDC and EEDC amounts that were to be deposited by builders with HUDA (refer to my earlier post in this regard) Consequently, this waiver of interest amount is a relief to builders and is in NO WAY APPLICABLE TO BUYERS, since in my view BUYERS ARE NOT SUPPOSED TO PAY THE INTEREST AMOUNT IN FIRST PLACE.

Warm Regards,

Vikas Bansal

[ddamitav]

I agree with Dhiraj except the late payment charged by RPS apart from the Interest.

We need to talk to RPS to waive this!!