EDC & IDC Reply - ( Dhingra Suburbian Floors Faridabad )
Posted by Rajni sharma 28 Feb 2012
Kindly check the calculation send by BPTP. 1) Enhanced EDC calculation We would like to inform you that the demand for Enhanced EDC has been raised in accordance with the Memo No. HUDA-CCF-ACTT-I-2011/17903 dated 25.05.2011 (enclosed for reference) issued by the Haryana Urban Development Authority (HUDA) wherein HUDA had revised the EDC rates from Rs. 18,19,000 lacs per gross acre to Rs. 39,75,821 per gross acre for the year 2005. We have received demand notices from the Director General Town and Country Planning, Haryana (DGTCP) demanding the EDC amount which have been made applicable retrospectively along with interest. Since the authorities were in the process of determining the revised EDC rates that was to be levied on the colonizers /developers, therefore the EDC rates charged were interim. The same was mentioned in the plot buyer agreement, clause 2.2. The computation of Enhanced EDC being charged from you is detailed below- S. No. Particulars Amount (Rs.) 1 Interim EDC Rate (per acre) - As per LOI/License for year 2005 1,819,000 2 Enhanced EDC Rate - For the Year 2009* 5,821,000 (A) Revised EDC for the year 2005 -computed as per Memo Dt. 25-05-2011* 3,975,821 (B) Interest on Enhanced EDC @ 12% p.a. for 28 months 603,910 (Period July, 2009 to October, 2011) (C) Interest on interim EDC @ 15% p.a. for 2 years 586,628 (D) Bank Guarantee and Other Charges 139,165 Total 5,305,524 Area efficiency - 42.53% = 2058 Sq. Yds. Enhanced EDC rate (per sq. yd.) 2,578 Less : Interim EDC already conveyed (per sq. yd.) 1,024 EDC rate to be charged (per sq. yd.) 1,554 On the basis of enhancement in EDC for plotted development, revised EDC is payable by each of the customer, a calculation of which is given above. Please refer the notification received from HUDA that is enclosed along with.
EDC & IDC Reply - ( Dhingra Suburbian Floors Faridabad )
Posted by Rajni sharma 01 Mar 2012
Pls find below reply send by BPTP on above points : KINDLY COMMENT? REPLY OF BPTP This is with reference to the trailing mail. We would request you to kindly acknowledge the following points: 1) We would like to update you that we are working on the query raised by you towards interest, area efficiency and bank guarantee in the calculation of enhanced EDC and we shall be able to revert you soon with an update on the same. 2) The obligation to make the payment of EDC charges to DTCP (Haryana) is of the developer and we will fulfill our obligations as per the terms of the various licenses granted by DTCP to us. As regards, the payment of EDC charges payable by the customers to us is concerned the same shall be governed by the flat/plot/floor/villa buyer agreements executed by the customers with us and has no co-relation with the payment made by the customers to us with the payment of EDC charges to be paid by us to the department. We have to fulfill the terms of the license w.r.t. payment of EDC charges despite of the fact that some of the customers did not pay the EDC or delays in making the payment of EDC charges. Further, in the event the EDC charges are not paid by us to DTCP, the bank guarantees submitted with DTCP, prior to the grant of license, can be invoked by the department and thus EDC charges payable by the developer can be recovered by the department. Thus, as we are obligated to comply with the terms of the licenses granted by DTCP, in a similar fashion our customers are obligated to comply with the terms of the agreement executed with us but compliance by a customer by making the payment of EDC charges cannot be a ground for a similar compliance on our part by making the said payment of EDC charges to DTCP. As the same are governed by different terms and conditions under two different contracts. We will ensure that the enhanced EDC charges being recovered from the customers are also deposited in a similar fashion with DTCP. 3) In regards to payment of stamp duty, we would like to clarify that the charges are payable along with the demand of other charges demanded vide letter dated 14th November 2011. We would request you to remit the dues at the earliest as all the delayed payments are subject to interest @ 18% per annum for the period of delay and holding charges @ Rs. 5/- per sq yard per month. Thank you for your patience and writing to us. Should you require any assistance please feel free to call at +91-124-385 (2787) or write in to us at Thanks and Regards Komal Jain Customer Services BPTP Crest
EDC & IDC Reply - ( Dhingra Suburbian Floors Faridabad )
Posted by Rajni sharma 29 Feb 2012
Kindly put some light on the above calculation send by BPTP. As why a). BPTP are charging the Bank gurantee charges, b). Interest on Interim EDC for 2 year from us as we had paid this money to BPTP long back. c). What is the base of area effective 42.53% = 2058 Sq Yds for calculating EDC.

Related Comments    Reply to comment    Post New Comments

Dhingra Suburbian Floors Faridabad

Posted By indiaspaces . on 28 Oct 2010
Members (76) | Comments (145)