Cost of Dwelling Unit
The cost of dwelling units offered by AFOWO varies for different schemes in different cities depending upon the area, location and other factors. After the completion of Demand Survey, AFOWO announces a project with its technical details as well as the cost per square feet. In regards to the cost of the dwelling units, it may be noted that:
1. Cost of Dwelling Unit in a scheme, when announced, is tentative and includes all costs incurred for the execution of the scheme, such as cost of land, financing cost, cost of construction of dwelling units, community hall, parks, path-ways, water tanks, electrical substation, water pumping arrangements, lifts etc.
2. The tentative cost also includes establishment charges, legal fees, incidental and unforeseen contingency charges, contribution to Reserve Fund, Maintenance fund, Depreciation Reserve Fund, taxes etc.
3. The charges to be paid to the government including the External Development Charges (EDC) and Infrastructural Development Charges (IDC), are charged as per actual.
4. Other charges like Prime Location Charges (PLC), Club Membership, Power Backup etc are mentioned while announcing a new project or scheme.
5. The cost of operation and maintenance of common facilities/services, including lifts, pumps, transformers, etc. shall be apportioned in ratio of the super area of the dwelling unit.
6. The Basic Sales Price (BSP) of the dwelling unit, all charges enumerated above, and other charges, if any, shall be clearly mentioned in the Builder Buyer Agreement (BBA).
7. Since AFOWO works on ‘No Profit No Loss’ basis, the entire cost including escalations, if any, will be distributed amongst the dwelling units.
8. AFOWO may call for payment of part cost of land in advance. Those who make such payment will get priority over others in booking of dwelling unit.