Many of our existing societies managing committee members get confused with what maintenance head should be charged, how to apply these charges etc. Here is the small description of each maintenance charges.
The bye-laws contribution to be collected from the members of the housing society towards outgoings and establishment of its funds, referred to in these bye-laws as 'charges' may be in relation to the following:
It is the annual amount paid by a land owner to the local government or the municipal corporation of his/her area. It is based on the area of the flat / shop / garage / bungalow.
It is on the basis of total number and size of inlets provided in each flat. May differ from society to society
Common Electricity Charges
Includes all the electrical expenses on account of compound lighting, borewell electricity expenses, passage lighting, lift electricity expenses etc. and should be divided equally amongst all the member irrespective of their flat size.
Contribution to Repairs and Maintenance Fund
At the rate fixed at the general body from time to time, subject to minimum of 0.75 percent per annum, of the construction cost of each flat for meeting expenses of normal recurring repairs.
Expenses on repairs and maintenance of the lifts of the Society, including charges for the running the lift
Expenses on repairs and maintenance of the lift, including charges for running the lift, salaries of Liftmen, Equally by all the members of the building in which lift is provided, irrespective of the fact whether they use the lift or not.
Contribution to the Sinking Fund
Provision for reconstruction of the building when the existing building is not safe for human habitation since it is difficult for the Cooperative Housing Society / RWA to generate such a huge fund in short period of time.
General Body can decide the Sinking Fund contribution, subject to minimum of 0.25% per annum of the construction cost of each flat incurred during the construction of the building of the Society and certified by Architect.
Also known as Common Maintenance Charges. It is collected to cover various expenses like Salries of Staff, Liftmen, Watchmen, Printing and Stationary, Audit Fees etc.
At the rate fixed by General Body of the Housing Society at its meeting under the Bye-law No. 83/84.
Interest on the defaulted charges
A member shall by required to pay simple interest at 21% per annum, or at such lover rate as may be fixed by the General Body, on the outstanding dues to the Society.
- Repayment of the installment of the Loan and Interest
Applicable if the flat occupied by non-family members. Non occupancy Charges Can not be charged more than 10% of the service charges excluding statutory taxes.
- Insurance Charges
- Lease Rent
- Non-Agricultural Tax
- Any Other Charges