It is a proven fact that housing units in real estate projects with good connectivity, very wide roads and better facilities and amenities sell better than those in real estate projects without them. This would be clearly true even if the former project were costlier than the latter. This is why external development work becomes a must for those who are active in real estate building constructions.
According to the Real Estate (Regulation and Development) Act, 2016, external development work includes incorporating in a project “road and road system landscaping, a water supply, a sewage and drainage system, electricity supply transformers and a solid waste-management system”, apart from any other work executed in the fringe of a project for its good benefit. Under the estimated cost of any project, external development work charges are also included in that.
Generally, external development work covers almost all the facilities provided by a developer in his project, and a buyer does not have to pay any additional amount to avail and enjoy these amenities and facilities. However, for availing and enjoying those certain amenities provided in a housing society, you might have to pay extra charges periodically.
There many charges when you buy a property, EDC means External Development Charges .It’s a Onetime charge. These charges are raised on owners for development of different infrastructure required in to the particular property. External Development or services include the following:
EDC or External Development Charges are the extra charges which are collected from builders or developers by the state government, for the development of roads, water supply, electrical works, sewerage, drains, necessary provisions of treatments and disposal of sewage, sullage (household wastewater) and storm water, solid waste management and disposal, schools, colleges, hospitals, stadium/sports complex, grid sub-stations, fire stations etc. and any other work to be executed in the periphery of or outside colony/area for the benefit of the colony/area.