What are the charges collected by the Society?

The apportion of the share of each member towards the charges of the society shall be on the following basis:-
1. Property taxes:- As fixed by Local Authority on the basis of the ratable value of the flat/ shop per sq.ft and should be collected according. If the property tax is collected by the Authorities individually in respect of each flat/shop no charges should be collected by the society.
2. Water charges:- On the basis of total number and size of the inlets provided in each flats.
3. Common Electricity charges:- Equally for all flats.
4. Contribution to Repairs and Maintenance of the building/ Buildings of the Society:- At the rate fixed at the General Body from time to time, subject to the minimum of 0.75%per annum of the construction cost of each flat for meeting expenses of normal recurring repairs.
5. Expenses on Repairs and Maintenance of the lifts of the society including charges for running the lift:- Equally by all the members of the building in which lift is provided, irrespective of the fact whether they use lift or not.
6. Contribution to Sinking Fund:- As provided under Bye-laws No.13 (c), at the rate decided at the meeting of the General Body, subject to the minimum of 0.25 percent per annum of the construction cost of each flat, including the proportionate cost of the land.
7. Service Charges:- Equally divided by the number of flats/shops/unit.
8. Car Parking Charges:- At the rate fixed by General Body of the Society at its meeting under the bye-laws No.84/85.
9. Interest on the Delayed payment of charges:- At the simple rate not exceeding 21% fixed under Bye-laws No.72 to be recovered from defaulter members.
10. Repayment of the Installment of the loan and interest:- the amount of each installment with interest as fixed by the financing agency.
11. Non Occupancy Charges:- As per the bye-laws No. 43 (2)(iii)(c ), the members shall pay non occupancy charges to the society at such rate as is decided by the meeting of the General Body of the society. non occupancy charges should not be more than 10% of service charges.
12. Insurance Charges:- The built-up area of each flat, provided that if there is increase in the insurance premium due to storing any specific goods in any flat, used for commercial purpose, the extra burden of insurance premium shall be shared by those who are responsible such increased premium in proportion to the built up area of their flats.
13. Lease Rent:- The built-up area of each flat.
14. Non Agricultural Tax: – The built-up area of each flat.





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One thought on “What are the charges collected by the Society?

  1. How to calculate the “minimum of 0.75%per annum of the construction cost of each flat ” part? Can you help to understand this part? If you prefer then you can replay to my mail id too. Thank you.

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