As per Bye laws, The Repairs and Maintenance Fund, at the; rate fixed at the general body from time to time, subject to the minimum of 0.75 per cent per annum Of the construction cost of each flat for meeting expenses of normal recurring repairs;
Now the query is that in our society, some buildings (wing A, B & C ) were constructed in 2011-12 and remaining buildings (wing D & E) were constructed in 2015-16.
The argument from residents of A, B, C wing is that the cost of construction of their flat is Rs. 800 / sq ft in 2011-12, so they should pay 0.75% of their flat size at the rate of 800 sq/ft, whereas they are forcing their argument that the wing D & E are new and cost of construction is Rs. 1,200 and repairs and maintenance cost for wing D, E should be based on Rs. 1200 / sq ft at 0.75% of their size of flat, which become very high and the gap of charge for Repairs & Maintenance of Wing A,B,C and Wing D,E is significant.
I am resident of D building, so I could see the cost is 1.5 times for me than a resident in wing A, B,C.
As per my opinion, the cost of construction should be the cost of construction of Flat at the current rate / cost and not at original rate / old rate. Because here we are asking for fund to maintain current cost of Repairs and maintenance.
Please clarify that what should be the cost of construction to be considered whether it’s original cost or current cost, when there is big time gap in construction of different building in a society.
I C Naik
IEALLY Cost should be periodically assessed by the Architect. This cost should be used for three purposes. To apply % to create Funds for Repairs and Sinking Fund. The apportionment of members’ contribution to Funds which are called in from members for meeting current repairs to flats and strengthening the structure of the property. Higher the cost higher will be contribution. This is not a matte of debate. MEMBERS’ VISION AND NOT NARROW MINDEDNESS WILL HELP.