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ATS Kocoon, ATS, Sector 109, Gurgaon

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ATS Kocoon, ATS, Sector 109, Gurgaon

Last updated: May 27 2019
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  • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

    Is there any compulsion or time limit to do Registry after you get possession of a flat in Punjab. I have made all the payment to the builder and have taken possession but DONT WANT to do registry as might have to sell this flat in future..Can i stay in this flat without doing the registry...Have also taken loan from bank and dont know wether bank or builder will ask me to do registry when i hv got the possession...Currently i dont want to do the registry but might be staying my flat until i get a prospective buyer..Is it fine..ANy time limit???Plsssssss help me answer this question?
    Last edited March 21 2012, 12:51 PM.

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    • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

      Subvention Plan

      Originally posted by matrix_55 View Post
      New scheme - No EMI till 18 Months?

      Saw this web promo: ATS Kocoon : ATS Gurgaon : Kocoon Gurgaon
      This is the subvention plan discussed earlier in this forum. Check posts over 2 weeks old. Its basically No EMI, No interest for 18 months. You have to pay 90% first and 10% at posession.

      Comment


      • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

        Originally posted by skhosla View Post
        This is the subvention plan discussed earlier in this forum. Check posts over 2 weeks old. Its basically No EMI, No interest for 18 months. You have to pay 90% first and 10% at posession.
        18 mnths is less time and I don't see any major benefit for buyer. One has to start paying EMI for 90% flat cost after 18 mnths, where there could be still 18-24 mnths left for posession.

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        • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

          Including parking in BSP

          I heard that ATS is working to include INR 6,00000/- towards car parking in BSP for existing and new customers citing some supreme court judgement. This will result in increase in BSP of the apartment.

          The following affects this is expected to have on investors:
          1) If the prices are included in BSP then car parking which does not carry any service tax(to the best of available information) will attract service tax 3.09 i.e. INR 18540 extra.
          2) Thus price of INR 6 lacs which is to be paid at the time of possession will be paid alongwith different millstone that means INR 6 lacs will be paid early instead at last. I understand ATS is changing the percentage ratio so that the cash outflow shall remain the same ( extent of change limited to few thousand rupees) as per original plan.


          In my opinion, if the outflow remains the same then point no 2 will not have any major affect on investor but excess amount of INR 18540, as point no 1, is still unnecessary payment on account of service tax will be levied to investor. This is not as per the understanding with builder and all communication from builder till date is with parking extra only.

          I would request ATS investors/experts to confirm the authenticity of this news and their opinion/other effects due to this change.

          Comment


          • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

            Originally posted by Kashmiri View Post
            I heard that ATS is working to include INR 6,00000/- towards car parking in BSP for existing and new customers citing some supreme court judgement. This will result in increase in BSP of the apartment.

            The following affects this is expected to have on investors:
            1) If the prices are included in BSP then car parking which does not carry any service tax(to the best of available information) will attract service tax 3.09 i.e. INR 18540 extra.
            2) Thus price of INR 6 lacs which is to be paid at the time of possession will be paid alongwith different millstone that means INR 6 lacs will be paid early instead at last. I understand ATS is changing the percentage ratio so that the cash outflow shall remain the same ( extent of change limited to few thousand rupees) as per original plan.


            In my opinion, if the outflow remains the same then point no 2 will not have any major affect on investor but excess amount of INR 18540, as point no 1, is still unnecessary payment on account of service tax will be levied to investor. This is not as per the understanding with builder and all communication from builder till date is with parking extra only.

            I would request ATS investors/experts to confirm the authenticity of this news and their opinion/other effects due to this change.
            News seems to be true. Just yesterday I was reading this news article in ET at Can you sell your car parking slot? Find out your legal rights - The Economic Times

            "This is because of the 2010 Supreme Court ruling, according to which flat buyers need not pay extra money to buy parking spaces, both open and closed, from property developers."

            I vaguely recall ATS guys telling me that I have to pay service tax etc. on car parking when I was given given the BBA. Not sure how they would adjust the payment plan though. The ruling is 2 years old and should impact every builder but haven't seen any other post around this issue. Any more comments/news is welcome.
            Last edited March 27 2012, 08:16 PM.

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            • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

              I am not sure of any Supreme Court Judgement but have seen few other builders following this practice now. We should confirm with builder for service tax of this amount but I see few benefits also with this practice.

              1. Payment will be distributed in 10-15 installments
              2. The same amount will be part of loan sanctioned from bank.

              Originally posted by Kashmiri View Post
              I heard that ATS is working to include INR 6,00000/- towards car parking in BSP for existing and new customers citing some supreme court judgement. This will result in increase in BSP of the apartment.

              The following affects this is expected to have on investors:
              1) If the prices are included in BSP then car parking which does not carry any service tax(to the best of available information) will attract service tax 3.09 i.e. INR 18540 extra.
              2) Thus price of INR 6 lacs which is to be paid at the time of possession will be paid alongwith different millstone that means INR 6 lacs will be paid early instead at last. I understand ATS is changing the percentage ratio so that the cash outflow shall remain the same ( extent of change limited to few thousand rupees) as per original plan.


              In my opinion, if the outflow remains the same then point no 2 will not have any major affect on investor but excess amount of INR 18540, as point no 1, is still unnecessary payment on account of service tax will be levied to investor. This is not as per the understanding with builder and all communication from builder till date is with parking extra only.

              I would request ATS investors/experts to confirm the authenticity of this news and their opinion/other effects due to this change.

              Comment


              • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                FYI.. Received an email from ATS for opening of their Gurgaon Branch Office.

                ATS Infrastructure Ltd.
                First Floor - Vatika City Point

                MG Road
                Gurgaon – 122002

                Comment


                • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                  Originally posted by Kashmiri View Post
                  I heard that ATS is working to include INR 6,00000/- towards car parking in BSP for existing and new customers citing some supreme court judgement. This will result in increase in BSP of the apartment.

                  The following affects this is expected to have on investors:
                  1) If the prices are included in BSP then car parking which does not carry any service tax(to the best of available information) will attract service tax 3.09 i.e. INR 18540 extra.
                  2) Thus price of INR 6 lacs which is to be paid at the time of possession will be paid alongwith different millstone that means INR 6 lacs will be paid early instead at last. I understand ATS is changing the percentage ratio so that the cash outflow shall remain the same ( extent of change limited to few thousand rupees) as per original plan.


                  In my opinion, if the outflow remains the same then point no 2 will not have any major affect on investor but excess amount of INR 18540, as point no 1, is still unnecessary payment on account of service tax will be levied to investor. This is not as per the understanding with builder and all communication from builder till date is with parking extra only.

                  I would request ATS investors/experts to confirm the authenticity of this news and their opinion/other effects due to this change.
                  Thanks Kashmiri. I am not sure if service tax is applicable on parking charges. If service tax is not applicable then it is a matter of concern as one has to pay service tax on parking charges as it gets added in BSP. Guys please advise:
                  1) If service tax is applicable on parking charges in your existing purchase with other builders along with some creditable evidence to take up further.
                  2) Also will this be applicable to Chintels customer also?
                  Regards

                  Comment


                  • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                    Originally posted by harpreet_sa View Post
                    Thanks Kashmiri. I am not sure if service tax is applicable on parking charges. If service tax is not applicable then it is a matter of concern as one has to pay service tax on parking charges as it gets added in BSP. Guys please advise:
                    1) If service tax is applicable on parking charges in your existing purchase with other builders along with some creditable evidence to take up further.
                    2) Also will this be applicable to Chintels customer also?
                    Regards
                    What I know is that different builders have their own understanding and interpretation on service tax applicability on parking area.

                    I understand Unitech is levying this with a condition on getting clarity they would return it back to investors.
                    Logix is not charging any service tax on parking..
                    Vatika is levying service tax on parking.

                    Mr Amit Bhalla can comment whether Chintels is charging service tax on parking or not for Paradiso project.

                    I think Chintels quota of ATS will also have BSP increased on account of inclusion of parking charges. As such they can not have different terms for same project. Experts can share their point of view.

                    Comment


                    • Re : ATS Kocoon, ATS, Sector 109, Gurgaon

                      Originally posted by Kashmiri View Post


                      whether Chintels is charging service tax on parking or not for Paradiso project.


                      Chintels is not charging service tax so far. It is not in the price sheet they had provided.

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