How do we calculate SINKING FUND & REPAIR FUND for each member of a Housing Society in Mumbai?
We have 2 kinds of flats in our building …
1) 1st kind of Flat — Carpet area 500 sq.feet & 650 sq.feet built-up area.
2) 2nd kind of Flat — Carpet area 650 sq.feet & 800 sq. feet built-up area.
Please let us know how to calculate the Sinking Fund and Repair Fund PER MONTH for each member of the Society. Would greatly appreciate your help.
I C Naik
Registered bye Laws of every housing Society provides method of determining member’s contribution to the Society Funds. You have free access to inspect the registered Bye Laws of the Society in the Office with prior appointment.