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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

    how is this project doing? is it sold out?

    Comment


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

      ATS delaying response on EDC balance refund and playing naive

      Comment


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

        Here is my research:

        EDC and IDC is calculated basis on the rates applicable at the time of issuing license to the society

        For ATS Kocoon License was issued in 2011 ( saw in the ATS agreement)

        My calculation is based on whatever information I gathered form Google ( Please Note this is not my source, I calculated based on the information I gathered from other groups)

        The rate of 176.28 Lac / acre is applicable for the projects which obtained license in the calendar year 2009 and the rate is applicable for 3 years with 10% compounded increase every year. The following rates apply for the every calendar year

        Year Applicable EDC
        2009 – 176.28 Lacs
        2010 - 193.91 Lacs
        2011 - 213.30 Lacs

        ATS KOCOON obtained the license in 2011, hence the rate of EDC applicable is for calendar year 2011.
        At the rate of 213.30 Lacs per gross acre, the total amount for the 10.45 acres to be paid to government comes to ~ Rs 2228.98 Lacs as EDC to be paid by builder.
        1 acre = 43560 sq feet

        Hence EDC component per square feet of the apartment area for this project would be = Rs 2228.98 Lacs /[ (10.45 * 43560 ) sq ft * 1.75] (Total cost of EDC / (Total Square feet* FAS))= Rs279.81/sqft


        Note: I have taken maximum permissible FAS, which is 1.75
        IDC Calculations

        As per 28/1/2008 notification on IDC, the residential group housing zone would come under Hyper potential zone (Gurgaon Manesar Master Plan 2005-06) and attract Rs 625/ square meter.

        Considering 10.45 acres of “ATS Kocoon”, total square meters come to 42,291.15 sq mtr (47.218 acres x 4047 sq mtrs per acre).
        The total IDC would be Rs 625/sq mtr X 42,291.15 sq mtr = Rs 264.32 Lacs

        IDC would be Rs 33.18/ sqft (264.32 lacs /
        [ (10.45 * 43560 ) sq ft * 1.75]

        Considering the above calculations. The EDC / IDC must be max Rs 313/sqft


        BUT:
        The above calculation is for the sanctioned building plans and for the legal FAR, however as the builder charges the EDC/IDC on the super area, the above would come down futher down by Rs 90 since the loading is usually between 25-30%.

        The effective EDC/IDC for the 2011 would be around Rs 220-240 depending on the loading.

        ( I am not sure how much of this information is correct/ But I realized since we are calculating EDC/IDC in terms of per sq feet. It does not matter how many acres builder own).

        I also realized that EDC and IDC amount is payable to the government so similar location should have similar EDC and IDC per sq feet.. At least makes more sense to me this way. I compared EDC and IDC component for Raheja and Puri with ATS. I am not sure of the license year of both the projects (Raheja and Puri). Raheja which is right next to ATS is charging 250 per sq feet and Puri is charging 335 per sq feet. Rs 375 per sq feet from ATS seems too high to me?

        I called the ATS sales office but they were not aware of any refunds being given by other builders. Their knowledge about EDC and IDC seems limited to me . I think we should followup with the head for any clarifications. I am sure ATS is a good builder and our money is safe , however we have the rights to know the calculation. Let me know your thoughts?
        Last edited June 18 2015, 06:05 PM.

        Comment


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

          Originally posted by cherrie85 View Post
          Here is my research:

          EDC and IDC is calculated basis on the rates applicable at the time of issuing license to the society

          For ATS Kocoon License was issued in 2011 ( saw in the ATS agreement)

          My calculation is based on whatever information I gathered form Google ( Please Note this is not my source, I calculated based on the information I gathered from other groups)

          The rate of 176.28 Lac / acre is applicable for the projects which obtained license in the calendar year 2009 and the rate is applicable for 3 years with 10% compounded increase every year. The following rates apply for the every calendar year

          Year Applicable EDC
          2009 – 176.28 Lacs
          2010 - 193.91 Lacs
          2011 - 213.30 Lacs

          ATS KOCOON obtained the license in 2011, hence the rate of EDC applicable is for calendar year 2011.
          At the rate of 213.30 Lacs per gross acre, the total amount for the 10.45 acres to be paid to government comes to ~ Rs 2228.98 Lacs as EDC to be paid by builder.
          1 acre = 43560 sq feet

          Hence EDC component per square feet of the apartment area for this project would be = Rs 2228.98 Lacs /[ (10.45 * 43560 ) sq ft * 1.75] (Total cost of EDC / (Total Square feet* FAS))= Rs279.81/sqft


          Note: I have taken maximum permissible FAS, which is 1.75
          IDC Calculations

          As per 28/1/2008 notification on IDC, the residential group housing zone would come under Hyper potential zone (Gurgaon Manesar Master Plan 2005-06) and attract Rs 625/ square meter.

          Considering 10.45 acres of “ATS Kocoon”, total square meters come to 42,291.15 sq mtr (47.218 acres x 4047 sq mtrs per acre).
          The total IDC would be Rs 625/sq mtr X 42,291.15 sq mtr = Rs 264.32 Lacs

          IDC would be Rs 33.18/ sqft (264.32 lacs /
          [ (10.45 * 43560 ) sq ft * 1.75]

          Considering the above calculations. The EDC / IDC must be max Rs 313/sqft


          BUT:
          The above calculation is for the sanctioned building plans and for the legal FAR, however as the builder charges the EDC/IDC on the super area, the above would come down futher down by Rs 90 since the loading is usually between 25-30%.

          The effective EDC/IDC for the 2011 would be around Rs 220-240 depending on the loading.

          ( I am not sure how much of this information is correct/ But I realized since we are calculating EDC/IDC in terms of per sq feet. It does not matter how many acres builder own).

          I also realized that EDC and IDC amount is payable to the government so similar location should have similar EDC and IDC per sq feet.. At least makes more sense to me this way. I compared EDC and IDC component for Raheja and Puri with ATS. I am not sure of the license year of both the projects (Raheja and Puri). Raheja which is right next to ATS is charging 250 per sq feet and Puri is charging 335 per sq feet. Rs 375 per sq feet from ATS seems too high to me?

          I called the ATS sales office but they were not aware of any refunds being given by other builders. Their knowledge about EDC and IDC seems limited to me . I think we should followup with the head for any clarifications. I am sure ATS is a good builder and our money is safe , however we have the rights to know the calculation. Let me know your thoughts?
          Hello Cherie85,
          Good stuff.. do you have a view on the official notification that has been issued for the reduction of the EDC?

          Thanks,
          Vishal

          Comment


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

            Originally posted by kuriousv View Post
            Hello Cherie85,
            Good stuff.. do you have a view on the official notification that has been issued for the reduction of the EDC?

            Thanks,
            Vishal
            http://tcpharyana.gov.in/Public%20No...%20Gurgaon.pdf

            Comment


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

              No, I have no view on this. I had called the ATS office a week back, they refused to share the information on EDC and IDC. I was traveling and hence did not get time. I will be following up with the Senior Manager for clarifications somewhere this week. You guys should also follow up on this issue. We should take this seriously.

              Comment


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

                I visited ATS KACOON yesterday, the pace of work has slowed down considerably,, they are making my unit as show apartment. Tile work n everything looks goodClick image for larger version

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

                  Very nice pics.


                  Originally posted by aviator777 View Post
                  I visited ATS KACOON yesterday, the pace of work has slowed down considerably,, they are making my unit as show apartment. Tile work n everything looks good

                  Comment


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

                    Hi,

                    Nice pics!
                    Sometime in the middle of June 2015, I had mailed a marketing manager at Chintels to enquire about the likely completion date of ATS Kocoon. His reply, to my pleasant surprise, was mid-2016 (although he used the word “tentatively”). Do you think that a target completion date of mid-2016 is aggressive given the state of progress that you witnessed in your latest visit to the site?

                    Comment


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

                      Seeing the current pace of work & completion expect completion in another 1.5-2 yrs.

                      Originally posted by ndeb2015 View Post
                      Hi,

                      Nice pics!
                      Sometime in the middle of June 2015, I had mailed a marketing manager at Chintels to enquire about the likely completion date of ATS Kocoon. His reply, to my pleasant surprise, was mid-2016 (although he used the word “tentatively”). Do you think that a target completion date of mid-2016 is aggressive given the state of progress that you witnessed in your latest visit to the site?

                      Comment

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