When we talk about properties in Gurgaon, lot of questions engross our minds, especially with the HUDA and the rules and guidelines. The high flying prices of properties in Gurgaon are becoming too much to bear, both for the property dealers and the buyers as well.
Keeping these facts in mind, the Haryana Urban Development Authority announced on last Wednesday that from now onwards the EDC charges for plotted development would be Rs. 58.76 lacs per acre and for normal group housing societies would be Rs. 176.28 lacs per acre.
The private developers in Gurgaon had demanded to reduce the EDC charges, which otherwise would have rendered their projects too expensive and the mechanism would work against the buyers. These new rates would be made applicable retrospectively from the year 2009 up till the year 2012 and the EDC would increase at the rate of 10% per year on a compound basis. It was further added that the builders do inform their buyers about the price hike and the new interest rates levied, but not about any form of refunds, due to which the large sum of money to be refunded to the builders and developers would never reach to the end users who actually pays and suffers.
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