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Real Estate Forum on Development Charges

Real Estate Property Discussion Forum and Guide to Real Estate Queries

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Q: Please advise me on the current legal position relating to recovery of Development Charges from Purchaser. If it an be recovered at what rate and on what area
Latest Answer: WHO WANT TO SELL 2 BHK IN RUNWAL GREENS?
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Q: Hi,
I am planning to buy flat and that apartment was ready/possession in 2012 and builder still has one flat vacant yet and he is asking for development charges on that flat ?
Will development charges applicable in this case ?

Thanks,
Bharat
Latest Answer: Good Evening Bharat...If you are buying a ready to occupy flat, in case the builder has developed the project to 100% & obtained the occupancy certificate for the same before selling it to you. So it indicates that it’s a product being sold. There is no service component involved in this and hence you don’t have to pay any service charges or development charges for it.
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Q: The government of Maharashtra has asked municipal corporations in the state to work on cutting the number of approvals needed for a project in the realty sector to about 70, from the present level of 200.
Latest Answer: But now Maharashtra Govt. has decided to reduce the number of approvals from 200 to 70. It had earlier decided to reduce the number of clearances for an industrial unit to 37, from 76. This is on similar lines.
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Q: Builder has asked 15 % of the flat cost as development charges which comes to rs 19 lacks which is exhorbitant. Is there's always say Rs 100 or Rs. 150/- per sq ft which is read to be charged

Latest Answer: Dear Sir, Hi, My Name is Rahul Soni. I am an employee of ICICI Bank. I am working in a Home Loan Department. So, If you are interested in home loan please call me. We will going to look after your home loan case right up till the end. For more detail call me on my mobile no. that is 7045630802. Key Features : * Attractive floating and fixed interest rates loans * Higher Loan Eligibility * Longer tenure and lower EMI * Loan sanction possible before selecting the property * Doorstep service * Simplified documentation Thank You
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Q: I bought a plot, on agreement its mentioned that price per sq. yard including EDC.
Now its possession time, builder asks for 1,30000 INR as development charges. He says its not EDC, the charges are for the roads, sewer and lights we made/worked inside the society.

Doesn't EDC include all these charges, do I need to pay these charges, are these separate from EDC?

Latest Answer: Thanks everyone for answering this. As per my agreement , EDC is included. OK, I won't be paying the asked charges and will talk to the builder in detail.
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