Demand Letter received for increased EDC Charges for BPTP Princess Park

[siddharth67]

Hi All,

Lets decide here how we can make BPTP to listen to us because just going there in mass may not help us. We should have some concrete home work ready to make it happen. In my view our concentration should be on:
1. Problems:
• Delivery dates of the project;
• Delay compensation plan form BPTP
• Increased EDC payment dates
• Interest charged in Demand notes along with EDC



2. Our Readiness
• First 2 points can be discussed and documented
• For the last 2 points, we need to get RTI raised with HUDA in the next 2 days if on Thursday we have to get them
• This RTI can also be raised on behalf of GFWA-Princess Park/ GFWA
• Through this RTI we need to get following information:
i. Is it true that rate revision is done from January 2006
ii. Is it true that they are charged on to the builders from that date onwards
iii. How much is charged from BPTP Princess park
iv. Is it true that interest from Jan 2006 is also charged from the builders and if yes, then how much is applicable form BPTP Princess Park
v. By what date these dues are asked to be cleared


This will benefit us in asking BPTP how they have calculated the amount charged to each of us. And in case they still do not respond, then a case against BPTP can be raised with CCI . This will compel them to answer us and the necessary correction in their demand notes.

But it is also necessary to write to them in the format provided earlier informing them about the writ and requesting them to hold on.
It’s a request to the persons who are in Faridabad during the working days to do this. It won’t cost much for the RTI filing. I think it costs around Rs.100 for it. Its high time and lets fight it out. All those who have taken up the fight have gained. We have examples from Omaxe, Triveni, DLF. Lets plan. If for getting RTI information takes a little more time, better we wait for it. We should not let the builder prepare themselves against our this action / plan

[sonalpallavi]

I found a memo HUDA.CCF.ACCTT-I-2011/17903 at http://www.shivsai.com/data/_uploaded/f ... Letter.pdf , not sure if it is an authentic and correct one.
According to it, the revised rate is 174.63 lacs per gross acre for low cost affordable housing with 600 density, in its letter for enhanced EDC , BPTP has mentioned the revised rate as Rs. 174.94 per acre.
The letter from BPTP says it is wef 27.01.2006, from the letter it seems the above rate is wef 2009 and from 2005-2008, the rates will be 10% less compounded basis.
I have also attached another memo, that I picked from huda site.(tcpharyana.gov.in/EDC%20of%20vrious%20UES.pdf )

EDC%20of%20vrious%20UES.pdf

[dhingra.monu]

Good Sonal....This is very important evidence we got . Based on this we should ask for revised Enhanced EDC Demand letter and also can ask to postpone the due date.

[yadav_ajay]

Hi @ siddharth67,

Good work by you.

But for RTI case, I would like to clarify that as per RTI act, any association or company can't file RTI.

So you are requested to pls file the RTI to DTP-Faridabad and Chandigarh to get clarification on your queries.

regards

[sonalpallavi]

Hi @siddharth67
Regarding the last point about the Interest, it is actually not the interest charged on EDC.This is the interest amount BPTP has charged on late payments of the various demand requests.
As most of you would have verified by now that there are numerous mistakes in the Interest calculations and the same has been accepted by BPTP also, as a fourth point on the agenda, we can ask them not to charge Interest Amount until they correct the dates and calculated amounts in their system.

Apart from this, can we have volunteers for being the primary and secondary point of contact, whom everyone making it to the meeting on 22nd Sep can reach out to.

[Pankaj Rawat]

Dear All,

Please find below interesting facts put together by Mr. Suman Manna related to EDC calculations which justifies as per information available in BPTP website for Princess Park Project

---------------------------------------------------------------------------------------------------------------------------------------

From: Suman Manna <sumanmanna@gmail.com>
To: Pankaj Rawat <pankaj_raw@yahoo.com>
Cc: "SManna@technip.com" <smanna@technip.com>; Reshmi Manna <resh31@gmail.com>
Sent: Monday, September 19, 2011 9:52 PM
Subject: Re: Fw: [BPTPforum] BPTP Princess Park

Dear Pankaj,
As discussed, please find below my observations on BPTP’s letter dated 13th Sep 2011 asking for enhanced EDC and their “Interesting” interest calculation.



1 In the letter it is mentioned a memo from HUDA dated May 25th, 2011. As per the builder-buyer agreement the said premises should be in possession to the buyer by that time. The extension of delivery schedule is entirely due to unprecedented delay on account of the builder only, hence any increase in statutory charge imposed by authority should be borne by builder itself.

2 As per the said letter the builder agrees to have the memo in their possession since its issuance in May 25th, 2011. Instead of sharing this information of substantial hike with fellow buyer, the held back for three and half month and allow only 15 days to arrange the sum which can only be related like a call for ransom.

3 From the write-up on Princess Park in the builder’s website, we found following interesting figures:

a. The entire area of BPTP Princess park is 17.97 acre.

b. The total salable area of Princess Park Project is 1.63 million square ft.

Now, as per their letter, we found that present EDC charge is Rs. 1,74,94,000 per acre.

Hence total EDC charge applicable for entire area of Princess Park = 1,74,94,000 x 17.97,

I.e, Rs. 31,43,67,180/-.

If we consider that this amount should be borne entirely by buyers, then EDC charge per square ft is Rs. 31,43,67,180 / 16,30,000 = Rs. 192.86 per sq ft.

In their letter BPTP claimed that we already have paid Rs. 114 per square ft.

Hence additional charge of EDC per square ft shall be Rs. 192.86-Rs 114 = Rs. 78.86 per square ft.

In my case, the flat area of 1835 square ft should have EDC implication of Rs. 78.86 * 1835 = Rs. 1,44,714.16/-

The builder has claimed Rs. 2,88,095 plus service tax as enhanced EDC, almost double.



4 The calculation of interest on account of delay has also got several loopholes. During early stage of the project builder used to issue us a provisional receipt against deposit of payment and final receipt were sent by courier. When we matched those and to our utter astonishment we found that final receipt of some payments have been issued as long as one month after the issuance of provisional receipt. Remember, builder never accepted any post dated cheque and in this letter the builder has calculated interest based on the issuance of those final receipts, which were issued not based on our payment date, but their whims.

5 In my case, I have booked this property through a broker, way back in November 2005. We make payment of initial deposit of Rs. 4 Lac on 7th Nov 2005, for which we dot naturally have any demand letter, in the interest calculation we found that they intentionally put a part of the demand made by them to the pseudo demand letter dated 7th Nov 2005 and calculated a good interest on the delay.

6 The Total calculation is a bit strenuous exercise, but it reveals how a little jugglery on dates can be done to show an interest component of Rs. 22, 311.47 where the actual figure based on the actual dates land me a figure of Rs. 9545/-

Conclusion:

Based on the above and on the recent performance of the builder , it makes me think that the builders are trying hard to get rid of at least good part of the buyer so that they can directly sell those premises at a very higher rate which is on the card once they gave away the possession of 2 bedroom sets.

We should also keep in mind of latest example where the big players like DLF had to burn its fingers on account of malpractices in business.

Best Regards,
yours faithfully
Suman Manna
98731 59 881

[sunilkbansal]

Thanks Suman for great information.
I do not won any apartment in BPTP project, I have one in Omaxe Heights

I think based on the information posted by Suman, why not GFWA push for making revised EDC payment to builder at time of possession and that too without any penalty. If HUDA is charging any penalty that has to be born by the builder itself, this may put indirect pressure on builder to complete construction at the earliest.
Builder also always says that any extra payment or delayed penalty will be adjusted at time of possession and that too without any interest.

I think this point of making revised EDC payment at time of possession can made when meeting with DC on 21st September. If DC Dr. Praveen Kumar also agrees to this point or at least find some merit in this point this will definitely put pressure on builder.

[Pankaj Rawat]

Dear All,

Request you to kindly shootout a mail to BPTP as done below asking for clear explanation from BPTP on the unjustified charges levied on the BPTP Princess Park Home Buyers.

I look forward for your kind participation on 22-Sep at 2:00 pm at BPTP Gurgaon office. Details address is mentioned below.

BPTP Limited
BPTP Crest, Plot # 15,
Udyog Vihar Phase-IV,
Gurgaon -122 015, Haryana,

Please circulate this mail to all your contacts who have purchased flat in BPTP Princess Park.

Thanks & Regards
Pankaj Rawat


----- Forwarded Message -----
From: saurabh jain <saurabh0802@gmail.com>
To: Customercare <customercare@bptp.com>; Audrey Verma <audrey.verma@bptp.com>; Neha1 Malhotra <neha1.malhotra@bptp.com>; Reena Gulati <reena.gulati@bptp.com>; Anindita Choudhury <anindita.choudhury@bptp.com>
Cc: aanchal jain <aanchal215@gmail.com>; Pankaj Rawat <pankaj_raw@yahoo.com>; tcphry@gmail.com; huda@hry.nic.in; core@myfaridabad.in; sonalpallavi@gmail.com; chander.sikka@escortscorporate.com
Sent: Tuesday, September 20, 2011 12:03 PM
Subject: Re: BPTP Letter for Payment of Enhanced EDC - Flat No. L - 1603, Princess Park


Dear Customer Care Officer,

In continuation to my below mentioned Email, in respect of the Demand of Enhanced EDC Charges, I would like to submit as under.

1. That I am trying to at the Customer Care Nos since I have received the Demand of Enhanced EDC, but
no one is taking the Call. The Lady at reception, always connect, thereafter no response from the Customer Care Office. The Call kept on hold for long.

2.Further, kindly refer to your Letter dated September 12, 2011 demanding Enhanced EDC at the rate of Rs. 271 per Sq. Ft. However, on the basis of facts disclosed on the BPTP Website relating to the Area of the Princess Park, we have also made the Calculation of EDC on per Sq. Ft Basis and the same comes out to Rs. 192.86 per Sq. Ft. The basis of Calculation is given below :

a. The entire area of BPTP Princess park is 17.97 acre.
b. The total salable area of Princess Park Project is 1.63 million square ft.
Now, as per their letter, we found that present EDC charge is Rs. 1,74,94,000 per acre.
Hence total EDC charge applicable for entire area of Princess Park = 1,74,94,000 x 17.97,
I.e, Rs. 31,43,67,180/-.
If we consider that this amount should be borne entirely by buyers, then EDC charge per square ft is Rs. 31,43,67,180 / 16,30,000 = Rs. 192.86 per sq ft.
In their letter BPTP claimed that we already have paid Rs. 114 per square ft.
Hence additional charge of EDC per square ft shall be Rs. 192.86-Rs 114 = Rs. 78.86 per square ft.
However, on the other hand you have asked for such an exhorbitant amount, without any disclosure of Calculation, which is totaly unfair and unthical. A copy of the Screen Shot from your Website is attached. Kindly clarify, the above calculation, otherwise, such an unfair amount is not payable without any justification.

3. Further, in your Demand Letter, you have also asked for Service Tax on the EDC after giving an Abatement of only 51%. Please note, as per the Circular, the abatement rate is 75% and not 51% also, the Service Tax is not to be paid on Statutory Dues. Further, neither any other Builder in the Neharpar Area has raised EDC Demand after levying Service Tax. Hence, Service Tax is not to be paid on the EDC Charges as demanded by you.

4.Further, in the letter, a reference to the memo from HUDA dated May 25th, 2011, is given. As per the builder-buyer agreement the said premises should be in possession to the buyer by that time. The extension of delivery schedule is entirely due to unprecedented delay on account of the builder only, hence any increase in statutory charge imposed by authority should be borne by builder itself.
5. Further, as per the said letter the builder agrees to have the memo in their possession since its issuance in May 25th, 2011. Instead of sharing this information of substantial hike with fellow buyer, BPTP held back the same for three and half month and suddenly raised the demand now with a Letter dated September 12, 2011 which was received by me on September 17, 2011 and allowing only 15 days to arrange the sum which can only be related like a call for ransom.
6. Please take a note that, BPTP is abusing its Dominant Position in the Nehar par Area of Faridabad, by indulging in such malpractices, unfair means, to the Disadvanteges of the Customer. If you will continue to follow such Anti Competitive and Abusing Practices, we will be forced to lodge a complaint with the Competition Commission of India.

WITHOUT PREJUDICE, to my Legal Rights for claiming compensation from you for delayed Possession, I call upon you to give me written clarification on the above mentioned Points of Email as well as below mentioned Points of my Email dated 19-09-2011. The demand of Enhanced EDC is only payable when BPTP gives transparent Calculation for the same with supporting Documents, subject to the Outcome of the Decision of the Hon'ble High Court, Punjab & Haryana, Chandigarh.

WAITING FOR YOUR REPLY.

Best Regards,
Yours faithfully,

Saurabh Jain
On Mon, Sep 19, 2011 at 2:49 PM, saurabh jain <saurabh0802@gmail.com> wrote:


Subject: Enhancement of External Development Charges (EDC) in Faridabad, by Government of Haryana vide Memo No. HUDA.CCF.ACCTT-I-2011/17903 dated May 25, 2011.
Reference: Flat No. L-1603 allotted to us in Project Princess Park at Sector-86, Faridabad, Faridabad. Customer Code - 124946.
Dear Sir/Madam,
Kindly refer to your letter dated 12th September 2011, received by me on September 16, 2011 raising a demand of Rs. 276,575.80 on my Flat No. L-1603, Princess Park, Sector 86, Faridabad for payment of increased External Development Charges (EDC), which shall be further deposited by you with the Directorate of Town and Country Planning terms of the notification issued by the HUDA dated 25.05.2011.
In this regard, please be informed that 'Greater Faridabad Welfare Association'(Regd.), a welfare association actively working for Sectors 75 to 89, Faridabad for the development of the said area, in which BPTP’s Princess Park flat’s owners are also Members, has filed a Writ Petition bearing No. CWP No. 14886 of 2011 before the Punjab & Haryana High Court, Chandigarh for quashing the above notification of the DTCP/ HUDA vide in which the External Development Charges (EDC) were increased from retrospective.
We would like to further inform you that the said matter was listed for first hearing on 16.08.2011 and after hearing the Petitioner, the Hon'ble High Court was pleased to issue notice to the State Authorities and directed the State Authorities to file their reply and accordingly fixed-up the matter for 06.09.2011 for further hearing. A certified copy of the order shall be provided to you as soon as we get the same from Greater Faridabad Welfare Association (Regd.) for your ready reference.
In this regard, please be informed that 06.09.2011 upon hearing the petitioners plea that since there is no stay from the Court in the matter, the possession / registration of flats of the members of the petitioner association is getting delayed due to non-payment of increased EDC amount, the Ld. Judge gave strict verbal instructions to the State Government in the presence of their Counsel to ensure that no such coercive action be taken against such flat owners for non-payment of increased EDC amount.
In view of the above, since the payment of enhanced EDC is sub-judiced before the Punjab & Haryana High Court, Chandigarh, we request you to kindly extend the date of deposit of the said enhanced EDC amount till further direction from the Court and proceed further to offer possession and registration of flats.
In this regard, please provide us the following details/clarifications, so that we can pay the EDC amount, subject to the outcome of the Case filed in the Hon’ble Punjab & Haryana High Court, Chandigarh.
1.Detailed audited calculations for EDC charges and amount that your Company has already deposited to DTCP.
2.Please also furnish letter from Director, Town and Country Planning which asks BPTP to deposit increased EDC and due date mentioned on the same.
3. Please provide us the detailed EDC Calculation of reaching to the rate of 271/- per sq. feet.
4. Further, you have also levied a Service Tax on the Demand of EDC and gave an abatement of 51%. In this regard, please also note that as per theService Tax Law on Construction Services, the Abatement percentage is 75% not 51 %. The same also been explained by Ms. Audrey Verma in her Email. A copy of the Mail is enclosed. Further, the Service Tax can not be levied on EDC Charges, as the same is Statutory Payment and there is no kind of Service Involved in this. So, the only amount which can be paid to BPTP subject to the outcome of the decision of the Hon'ble High Court, Punjab & Haryana is of EDC, without levying Service Tax. Copy of Email attached.
5. When will you Offer the Possession of my Flat and how the compensation will be paid to me for the delayed Possession, as the Due date of the Possession was October 1, 2010.
Please provide your reply on the above by 20th September 2011; else I will consider that the above proposal for not demanding the enhanced EDC without Interest and Service Tax are acceptable to you.

Regards

Saurabh Jain
9899155867.

[sonalpallavi]

Please refer the news clipping http://www.financialexpress.com/news/se ... e/827346/0
Here it is clearly mentioned that if the EDC/IDC collected by builder is wholly/partially paid to government, service tax will not be levied on that. But service tax will be applicable on EDC/IDC amount retained by the builders.

"Charges for preferential location or external or internal development (EDC/IDC) have been made liable to service tax with effect from July 1, 2010. Thus, service tax is leviable on any amount recovered on account of preferential location or external or internal development. In this regard, through circular No. 334/1/2010, it has been clarified by the department that any amount charged by a real estate developer on account of external or internal development to the extent it is subsequently paid to the state government or local bodies would not be leviable to service tax.
Given the above, in case the external/ internal development charges are partly/ wholly paid to the government, service tax need not be paid on such amount. However, on the amount EDC/ IDC retained by the company, service tax will be applicable at the rate of 10.3%. "

As per the calculations shown by Suman, BPTP is charging us almost double for EDC/IDC. And it is showing abatement of 51% in the demand letter for EDC. Does this mean that it is paying half of the amount to HUDA due to which the abatement is 51% and keeping the rest to itself ?

[nl_tuteja]

Dear All,

I highlighted the same matter through my posts on 12th & 15th Aug 2011. Extracts of my posts are:

There have been clarifications from the Joint Secretary (Tax Research Unit-II) on 26/2/2010 regarding various matters including service tax on Construction of Residential Complex. According to the clarifications, EDC/IDC Charges paid to the State Government are exempt from Service Tax. Apart from the above, Charges for Parking Space are also exempt from Service Tax. It is worth noting, if builder is paying Service Tax on any part of EDC/IDC collected from us, the same will prove the gap between the EDC/IDC Charges demanded by the State Government & Collected by the builder

Relevant Portion of the clarifications are reproduced for ready ref:

"Government of India, Ministry of Finance, Department of revenue,Tax Research Unit
Gautam Bhattacharya, Joint Secretary (Tax Research Unit-II), Telephone No. 011-23093027 Fax No. 011-23093037
e-mail. g.bhattacharya@nic.in
D.O.F. No.334/1/2010-TRU, New Delhi, dated 26th February 2010

Dear Madam/Sir,
Subject: Changes proposed in service tax law and procedure in Union Budget 2010-11 – regarding
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Annexure- A
[to JS (TRU-II) D.O.]
Scope and the background of the new services included in the List of Taxable
.........................................................................................................................................8.2 Since these charges are in the nature of service provided by the builder to the buyer of the property over and above the construction service, such charges are being brought under the new service. Charges for providing parking space have been specifically excluded from the scope of this service. Development charges, to the extent they are paid to State Government or local bodies, will be would be excluded from the taxable value levy. Further, any service provided by Resident Welfare Associations or Cooperative Group Housing Societies consisting of residents/owners as their members would not be taxable under this service."

In case, builders are charging Service Tax on EDC/IDC, the same is a proof against builders that they are collecting either higher amount of EDC/IDC Charges from us or they have received no demand from Authorities but recoveries our hard earned money. We should ask builders to clarify:

1. EDC/IDC Demand Letter received from Authorities
2. Basis for collecting the charges from customers
3. Amounts deposited with the Authorities (the same can be also verified from their Service Tax Returns).


Regards,
Nand Tuteja

[sonalpallavi]

I have jotted few things as per my understanding that needs to be taken to BPTP. Request you all to add to it .

Problems that need to be addressed by BPTP:
• Possession dates of the flats
Whenever inquired on this BPTP has been giving the same answer - "We have applied for the occupancy certificate, so possession is now dependent on when we get that. This might take 6 months , this might take 1 year, we don't know."
Can they apply the occupancy certificate for individual towers or they have to apply on completion of that project? Does anyone know about it?
In case they can apply for individual towers,we need the answers for following:
a) till now for which towers it has been applied?
b) when it had been applied
c) Can they share the copies of the application?
(or do we need to get this information through RTI??? )

• Penalty to be paid due to late completion of project
Whenever inquired on this, BPTP says that this will be decided at the time of possession.
As per the buyers agreement "if, the Seller/Confirming Party fails to offer possession of the said Flat within a period of 42 months from the date of sanction of the building plans of the said Complex, it shall be liable to pay to the Purchaser compensation calculated @ Rs. 5/- (Rupees Five only) per sq. ft. for every month of delay thereafter until the actual date fixed by the Seller/Confirming Party for handing over of possession."
We need the answers for following:
a) Why isn't this paid to us on monthly/quarterly basis?
b) If this will be paid to us at the time of possession, will it be paid along with the interest also for the entire period of delay?
There is no mention of interest on penalty in the agreement (or I am missing that??)

• Enhanced EDC amount and Service Tax charged on the amount
The EDC amount demanded is almost double of what BPTP needs to pay to authority.We need the following from BPTP:
a) Copy of EDC/IDC Demand Letter received from Authorities
b) The Calculation BPTP is following to arrive at the amount of 271/- per sq feet
c) Copy of receipts of Amounts deposited with the Authorities

• Interest charged on delayed payments
BPTP has done major errors in calculation of interest.In spite of the several emails and letters being sent to them to correct the interest amount ,they are not doing the same.Instead they are mentioning that we need to pay that and the same will be adjusted at the time of possession.
We need answers for the following:
a) Since BPTP agrees that the interest calculation is not correct, and it will take time to rectify it, why are they not holding the interest demand until they correct it?
b) If they are asking us to pay it now and later they'll adjust it, will they pay interest on the excess amount that they are asking us to pay now?

[shubhohere]

Seems this company is showing market dominance... they also know that owners of this project are not united..




@ Nand Tuneja,

Your posting is important...

According to the clarifications, EDC/IDC Charges paid to the State Government are exempt from Service Tax. Apart from the above, Charges for Parking Space are also exempt from Service Tax. It is worth noting, if builder is paying Service Tax on any part of EDC/IDC collected from us, the same will prove the gap between the EDC/IDC Charges demanded by the State Government & Collected by the builder

Relevant Portion of the clarifications are reproduced for ready ref:

"Government of India, Ministry of Finance, Department of revenue,Tax Research Unit
Gautam Bhattacharya, Joint Secretary (Tax Research Unit-II), Telephone No. 011-23093027 Fax No. 011-23093037
e-mail. g.bhattacharya@nic.in
D.O.F. No.334/1/2010-TRU, New Delhi, dated 26th February 2010

[Pankaj Rawat]

Dear All,

First of all, I would like to thank all the Princess Park home buyers (Satheesh VK, Suryakant Rastogi, Gurmeet Singh, Neelam Sundhir, Ashish Gupta, Deepak Saini, Deepak Arora, Byju VN, HL Sharma, Satyapal Singh, Suman Manna, Kavita Rai & Sandeep Batra) for taking their time for this meeting.

Since we all were present together and were adamant to be heard and responded in a group inspite of various tactics by BPTP to be heard seperately, we were managed to have a meeting with Harkesh Jolly GM Customer Support. Sandeep also managed to get hold of MD Kabul Chawla while he was leaving the office.
The team was put to wait for prolonged 2:00-9:00pm. But it paid for. We managed to get the break-up calculations from BPTP on EDC increased for Princess Park.

Attached is the break-up provided by BPTP. Kindly review and authenticate the calculations. Also attached is the approved sanction plan as per DTCP.

We have also scheduled a meeting with Harkesh Jolly on 27-Sep (Tuesday) 2:00pm to discuss the following open points
1. Service Tax on the EDC
2. Posession Dates for various towers
3. Penalty for delayed possession
4. Site layout changed without intimating to customers
5. Quality of construction
6. Status of Club House & Swimming Pool.
7. Other related issues.

Request all BPTP Princess Park Home Buyers to come forward and attend this meeting. It is our money and we need to have proper accountability of its use.
Until and unless we go together and pressurise them, we won't be able to resolve our issues.

Also, please forward this mail to all the BPTP Princess Park Home Buyers you are in contact with and enroll your name in the excel sheet provided in the below link.
https://docs.google.com/spreadsheet/ccc ... n_GB#gid=0

Please continue visiting http://www.myfaridabad.in to update on the latest development/activities planned and actively participate in the discussion in this forum.

Looking forward for your kind presence in the meeting with BPTP GM Customer Support on 27-Sep-11 at 2:00pm.
FYI, 27-Sep is the last date for EDC payment. Request your views on the same.

Thanks & Regards
Pankaj Rawat

[amitkumar]

Hi Pankaj

So just to clarify, does that mean that the increased EDC/IDC demands we are getting from builders are genuine ?

[kbg_79]

I want to mention some things regarding Huda Memo here:

As per Memo, Project has total area of 17.97 acres. Total revised EDC asked @159.04 lacs per acre. Out of it EDC@86.31 LACS per acre has already been claimed by Huda and balance EDC @72.73 LACS per acre has been asked as enhanced EDC.

FAR of the project : 17.97*4840*9*1.75 = 1369853.1 sqft

Total EDC payable by Project : 17.97 * 159.04 = 2857.9488 lacs

EDC/sqft = 208.6/sqft (FAR of ur unit which will be roughly 20% lesses than super area or U can reach to EDC/psqft of your project by dividing total EDC payable by the gross super area of all units in your project

EDC/sqft will be lesser as Mostly all Builders are calculating EDC/sqft on FAR basis and charging it based on super area.

Interest has been asked for deferred amount by Huda from 10.1.2009..

Suppose someone has paid initial EDC of Rs 150/- the deferred amount will be Rs 59/sqft ..and interest @18% will be around 33/- psqft

Total EDC (FAR based) will be around 208.6 + 33 = 242/sqft

I doubt over the calculation given by Builder. Moreover buyers are not responsible for Interest paid by Builder because of EDC paid in installments. Buyers already paid their dues to Builder in lumpsum.


Kulbhushan