Overview
External development charges meaning is a fee, which is imposed on property developers by local authorities for the development of infrastructure, such as roads, water supply, sewage, parks, etc. Later these charges are passed on to the homebuyer. These charges are mandated by the Real Estate Act, 2016.
What are the Components under External Development Charges?
Civic facilities covered under EDC include the following:
Water Supply
External Development Charges ensue sufficient water supply to homes. This includes installation of pumps, storage tanks, and pipelines to provide consistent water supply to all residents.Drainage
Efficient drainage and sewage maintains hygienic conditions and prevents waterlogging. EDC cover the installation of sewage treatment plants, drainage pipes and other infrastructure to manage wastewater effectively.Roads
Construction of roads ensures smooth transportation within the residential area. In addition, these roads connect different parts of the project and provide essential access for emergency services, maintenance staff and residents.Electricity
Electricity also comes under external development charges. This involves setting up transformers, power substation, and electrical distribution networks to ensure a stable electric supply throughout the residential project.Landscaping
The development of parks and greenery are key to improving the environmental quality ad aesthetic appeal of the project. With EDC charges playgrounds, gardens and recreational areas are constructed.Waste Disposal
Waste disposal maintains the cleanliness of the residential projects. EDC funds the setting of waste treatment systems, recycling facilities and waste collection points to ensure that garbage is disposed properly.What is the Importance of External Development Charges?
Infrastructure Quality
External development charges ensure that adequate public services and infrastructure are provided in new developments, improving quality of people’s lives.Regulatory Compliance
Having compliance with the regulations of external development charges allows the necessary clearances and approvals for development projects. Non-compliance can lead to delays and legal issues.How EDC Charges are Calculated?
The calculation of EDC charges depend on the specifics of the development project and local regulations. External development charge calculator is used for this calculation. Basically, these charges are calculated, based on the following:Enhance your surroundings with the transformative impact of carefully chosen colors. Let Architronix bring your vision to life through our expert Color Consultation services.