What is floor PLC in real estate?

So What Exactly is PLC? Preferential Location Charges, as the name suggests, is an additional charge that you as a home buyer pay for a better location or a preferred floor within the same apartment complex.

What is prime location charges?

Preferential Location Charge or PLC, as it is commonly referred, is basically an added cost that a buyer needs to pay in order to secure a unit that has an add-on advantage over the others in terms of location.

What is IDC in real estate?

There are some charges that have to be compulsorily paid by all the homebuyers. These include external development charges (EDC) and infrastructure development charges (IDC). All those buying houses in any housing project have to bear these charges, usually based on the size of their apartment.

What is Floor escalation charges?

When the developer changes the specification of the unit or increases and improves the amenities provided with prior intimation to the buyers. In case the construction cost increases during the course of construction the developer can charge an escalation cost provided the clause is mentioned in the agreement.

What is OC proof?

An OC certifies that the construction of the building has complied with the approved plans. It is issued by local municipal authorities or the building proposal department once the building has been completed and is ready to be occupied.

What is PLC amount?

Preferential location charges (PLC) have become a standard component of the total cost of a housing unit. These are additional charges that are levied over and above the basic sale price (BSP) of a housing unit and thus put extra burden on a homebuyer’s pocket.

WHAT IS PLC in building?

Why do builders charge floor rise?

In the absence of any regulation, builders and developers charge floor rise, PLC and parking space charges at any given rate, resulting in an unexpected spike in the final cost of the project. Higher floors have a higher floor rise price.