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EDC/IDC of BPTP The Resort, sector 75

Postby yogarc@gmail.com » Wed Nov 02, 2011 8:49 am

Hi friends,

Has anyone from BPTP The RESORT project received letter for payment of increased EDC/IDC?

I have booked flat in Tower-R and did not receive any letter till today.

-Yogendra
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Re: EDC/IDC of BPTP Park Grandeura

Postby yomkippur » Sun Nov 06, 2011 9:59 pm

Any project of BPTP or other builkders, enhanced EDC / IDC artes have been demanded as in the case of Park Grandeura. Now this is not so simple as it looks. EDC has a defined rate per gorss acre. Ofcourse HUDA is empowered to enhance based on price rise index but - but provided HUDA have undertaken or are undertaking any devlopmental work which is clearly missing in Faridabad which is clearly a plotical deficiency- therefore the planned protest on 13 Nov 2011. The question is whether to pay or not to pay the enhanced EDC. Well if you have received the demand then the buyer has no choice but to pay - ofcourse the next best thing is to fight after paying. Because if you did not pay the builder will charge 18% interest rate.
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Re: EDC/IDC of BPTP The Resort, sector 75

Postby ajub » Mon Nov 07, 2011 8:07 am

I agree with yomkippur. I think the court proceedings will take their own. Now the HUDA may come in their next hearing with a record of minuscule efforts made on the development of Gr faridabad. and they will definitely report there acquisition of land for master road land and other small things and then these will evaluated that whether this is sufficient enough to enable HUDA to raise another EDC demand as per price index. All these things will take time.

I think to avoid heavy interest rates the buyer has no choice but to pay - ofcourse the next best thing is to fight after paying as yomkippur said.
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