Dear Sir,
In reference to your exercise of charging both 1% and 5% as applicable on the said relevant apartments; the same is correct and may be continued.
In reference to your subcontractor previously charging 12% and now 18% is also correct.
However please note, that now since more than 50% of the flats are being sold as non-affordable apartments, in reference to the previous contractor billing of 12%, you would now need to discharge the shortfall of 6% (i.e. 18-12) under RCM, latest by when the project would be completed.
Please advise in case of any further clarifications.
Thanks & Regards,
CA Aditya Dhanuka.