pay-maintenance-bill-with-paytm

Online Payment on Mysocietyclub is easy with Paytm now

Great News for Cooperative Housing Society Members! Mysocietyclub now has UPI (paytm) available for collecting Maintenance bills and any dues payable by society members to the Housing Society. By using this the payment is directly made to the respective bank account Why Paytm? India’s No.1 wallet and payment app for mobile prepaid recharge, postpaid & Read more about Online Payment on Mysocietyclub is easy with Paytm now[…]

Recovery Process of Housing Society over dues

Housing Society collects the monthly maintenance expenses to ensure that they can manage the housing society works smoothly and to take care of their various common expenses like security, lift maintenance, house-keeping etc. All the members of housing society are expected to pay their maintenance bill on time as and when the same is raised Read more about Recovery Process of Housing Society over dues[…]

Education Funds

Education Funds in Housing Society

The basic objective of the Cooperative Housing Society is to create an environment of democracy, cooperation, equity and solidarity. However, the lack of awareness / knowledge of various rules, regulation, bye-laws and applicable society laws leads to many issues with the housing society. Realising the importance of such an important requirement, our legislator has made Read more about Education Funds in Housing Society[…]

building without managing sinking fund, with sinking fund

Sinking Fund Calculation and Utilization

Sinking Fund is not a new word in Co-operative Housing Society. Most of the members/managing committee members to make a suggestion to use such sinking fund for society related activities or debate its utilization/calculation without understanding its legal implication. So lets’ understand how the word “Sinking Fund” is defined; As per Wikipedia “A sinking fund is a Read more about Sinking Fund Calculation and Utilization[…]

Whether all the members are supposed to pay charges for using & maintaining lift?

There has been a lot of confusion regarding the payment of the maintenance and repair charges, regarding the use of the lift in Housing Co-op. Society. It would be important to mention here that some of the Societies are still following the old bye-laws, whilst most of the Societies have adopted the Model Bye-Laws. In Read more about Whether all the members are supposed to pay charges for using & maintaining lift?[…]

Members, Housing Society Interest Rates, Advance Payment. A Few queries solved !

If individual members enter into partnership deed in a shop can society recover non-occupancy charges ? If a shop keeper enters into a partnership deed for carrying out any business in the shop which is in the individual’s name, the individual will have to transfer the shop in the firm’s name; after proper procedure of Read more about Members, Housing Society Interest Rates, Advance Payment. A Few queries solved ![…]

Non Occupancy Charges can not be more than 10%

After the consideration of the Committee’s Report, the state Government issued an Order dated 1.8.2001 in Public Interest under Section 79 A of the said Act, there by directing the Societies not to charge non-occupancy charges beyond 10% of the service charges (excluding Municipal Taxes) The levy of non-occupation charges has been a controversial issue Read more about Non Occupancy Charges can not be more than 10%[…]