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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

    Do all builders follow this approach reg common area selling...do they charge EDC/IDC on actual built up area which they deposit/pay to govt.....as per my understanding answer is BIG NO.

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

      I agree Kashmiri, Since this was not told to investors before, ATS should absorb these charges of Rs 18540.

      Looks like many other builders are following the same practice of including parking to BSP. As Karan mentioned, there are few positives also with this approach but buyers should know about this before.

      Originally posted by Kashmiri View Post
      Hi Vinay,

      Thanks for the update.

      I am of the opinion that if ATS includes parking charges to save them in view of SC judgement then in that case investor has to pay @3.09% on account of service tax. However this(service tax) charges is not applicable on parking charges as per present condition of INR 6 Lac for parking charges.

      I was just wondering why poor investor need to pay these charges and as rightly pointed out by Bewoluf this should be absorbed by ATS.

      It is also highlighted that ATS has already given allotment letter and BBA etc. based on parking charges INR 6 Lac extra and investor are losing on account of this change.

      Any views, please.

      Regards

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

        Originally posted by vinaybhatia View Post
        I agree Kashmiri, Since this was not told to investors before, ATS should absorb these charges of Rs 18540.

        Looks like many other builders are following the same practice of including parking to BSP. As Karan mentioned, there are few positives also with this approach but buyers should know about this before.
        Yes, I also agree and I shall ask the builder and request others to do the same.

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

          Originally posted by harpreet_sa View Post
          Yes, I also agree and I shall ask the builder and request others to do the same.
          I call this as fraud. If A and B are agreed as separate amounts, ATS cannot combine and make it as A+B. Fraud 101. Can be challenged in court of law.

          Let us know if they agree to eating the service tax impact. I doubt it.

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

            No you cannot challenge it. service tax is always borne by the person availing the service. the only situation where the builder can be asked to absorb it is where the biilder agrees to bear imcrease in taxes, which no builder does

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

              Originally posted by lexusnexus View Post
              No you cannot challenge it. service tax is always borne by the person availing the service. the only situation where the builder can be asked to absorb it is where the biilder agrees to bear imcrease in taxes, which no builder does
              I think you are missing the point. The amounts cannot be combined at will by ATS unless specifically stated that BSP includes parking.

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

                Hi Harpreet,

                Let me know the outcome of your discussion with ATS.. even my first payment is falling due in the coming week and I will take up this matter with them as well..


                Originally posted by harpreet_sa View Post
                Yes, I also agree and I shall ask the builder and request others to do the same.

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

                  ATS has increased the BSP for all and included the 6L as part of it. They have specifically called out that 2 parkings will be reserved for the owner.
                  Anyone received the updated letter?

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

                    Originally posted by vinaybhatia View Post
                    Few other notes that were exchanged during this call.

                    1. ATS Triump launch is now planned in June. No confirmation on launch price yet.
                    2. ATS is planning another project in Sec 109 that may be launched by end of the year.
                    Ye the new one in 109 is again on Chintels land so potentially could be another JV. It will be a little on the rear of the sector.

                    Chintel is also planning another residential project in sec 108 in 39 acres after the success it witnessed in Paradiso.

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

                      Originally posted by skhosla View Post
                      ATS has increased the BSP for all and included the 6L as part of it. They have specifically called out that 2 parkings will be reserved for the owner.
                      Anyone received the updated letter?
                      Well just wondering, if they increase the BSP then the amount of payment will be derived from increased BSP on completion of each milestone, thus resulting in more outflow. Effectively means the 6 lac which was scheduled to be paid in the last would be paid alongwith earlier milestones, which is not in benefit of investors.

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