Apart from the basic per square feet price of a flat, there are several other costs associated with purchasing a flat. IDC is one of the charges that need to be compulsorily paid by every homebuyer.
IDC Full Form in Real EstateIDC stands for infrastructure development charges. Do not confuse it with internal development charges. As per the RERA Act, 2016, IDC includes the cost of developing major infrastructure projects like bridges, highways, and transport systems in the city in which the property is located.
Generally, these charges range between Rs. 50 and Rs. 300 per square feet of a flat. These are statutory charges that are levied by the respective state govt. and they can differ from one state to another. They also vary depending on the type of the project and location (zone) within the city. For example: in Gurgaon, under the residential category, the IDCs are different for low-potential zones (Rs. 70 per square meter), medium-potential zones (Rs. 250 per square meter), high-potential zones (Rs. 350 per square meter), hyper-potential zones (Rs. 500 per square meter).
Under the commercial category, these charges range from Rs. 190 per square meter for low-potential zones and Rs. 1000 per square meter for hyper-potential zones.
Similarly, there are different rates for industries, institutions, and group housing segments in the different zones. The developer collects these charges from the house buyers as per the size of the flats that they purchase and pay them to the authorities.
Now you know what is IDC in real estate.
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I hope I cleared all your doubts rearding the IDC full form in real estate.
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Authors Of The Question
What is IDC in real estate?
Neelu
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2 Year
2022-06-01T18:34:25+00:00 2022-06-01T19:13:10+00:00Comment
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