Where we can use corpus fund?
Que.What is the exact usage of a corpus fund? Where we can use it?
Corpus fund means payment received or receivable by the society from the
developer in lieu of surrendering its development rights of plot by way of
registered document or contributed by Members for any purpose as decided in
general meeting. It can be a fund received from the Promoter Builder or received in
case of Redevelopment. In case of Redevelopment, it is generally with the purpose
of meeting additional burden of increased rates of maintenance or society
charges. It is a long term fund and has to be invested and the interest has to be
utilized. The society has to decide its utilization as per the needs, in the general
Maintenance charges calculation for long time due
Que. In our society maintenance charges are collected monthly. 3-4 members have not paid their maintenance charges since 4 years. How should we calculate interest - by due days, due months or due years? Is there any formula for the same? Interest on ...
Construction in MIDC AREA
Que.Our society is situated at MIDC leases land. Currently, the builder has formed a condominium of Apartment. Now society members are in process of forming CHS. Recently due to metro project FSI has been increased in our area. Who will get ownership ...
In what type of bank can we deposit the Sinking Fund ?
Que. In what type of bank can we deposit the Sinking Fund ? Sinking Fund can be deposited in Cooperative Bank or Nationalised Bank. However, decisions can be taken on the basis of security of the deposit, income tax applicable, and deductions ...
Can refugee area door or terrace fire fighting exit door and keep the key of the lock in emergency door key in a glass box?
Que. Can we close refugee area door/terrace fire fighting exit door and keep the key of the lock in emergency door key in a glass box? Is it allowed? Refugee area is one of the construction, occupancy and protection features that are necessary to ...
Illegal construction in there flat
Que. If some members are doing illegals construction or extending dry balcony then what should the chairman do? If that person is the society secretary then against whom should the action be taken and what should be done? If some members are doing ...