They debited the maintenance from this fund and now they are asking for corpus fund plus interest on delayed payment
1 week ago
Purchased an apartment. The date of registration and handing over of the apartment took place in third week of June 23. However, the apartment owners association have debited my account towards maintanence from March 23. My emails to them are not answered. They said I have to deposit corpus fund of Rs. 10,000/-. They debited the maintenance from this fund and now they are asking for corpus fund plus interest on delayed payment.
A.Dear Client,
Corpus Fund is generally collected to meet specific purposes, such as major repairs, maintenance of the common areas, amenities, and infrastructure within the community, or unforeseen expenses. It provides financial stability to the housing societies and helps in upkeep and enhancement of the property. The Corpus Fund is formed by a Contribution Structure involving financial contributions from the owners/residents which is subject to the legal framework and agreements entered by the parties. You can reach out to the society to know the reasons for such deductions and solve it amicably. In case of unreasonable deductions and inaction by the Society, you can send a legal notice to them and demand to stop such undue debits. If required, you can consult an advocate to know about the agreements in place and take assistance.
Hope it helps.
Thank you.
Corpus Fund is generally collected to meet specific purposes, such as major repairs, maintenance of the common areas, amenities, and infrastructure within the community, or unforeseen expenses. It provides financial stability to the housing societies and helps in upkeep and enhancement of the property. The Corpus Fund is formed by a Contribution Structure involving financial contributions from the owners/residents which is subject to the legal framework and agreements entered by the parties. You can reach out to the society to know the reasons for such deductions and solve it amicably. In case of unreasonable deductions and inaction by the Society, you can send a legal notice to them and demand to stop such undue debits. If required, you can consult an advocate to know about the agreements in place and take assistance.
Hope it helps.
Thank you.
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A.Dear Client,
Until and unless a person becomes an owner of a flat through registration of a deed of conveyance and takes possession of the said flat from the Builder, a flat owner cannot be enrolled as a member of the Society. So, when the registration and handover of possession are held in the month of June, 2023, a Society cannot charge maintenance from the month of March, 23, when neither the registration is done nor you occupy the flat. Monthly maintenance is levied from the resident member from the month of possession of the flat by the owner/buyer. All kinds of charges including payment towards corpus fund leviable/chargeable from a member-owner of the flat from the date/month of possession of the flat post registration and not with the retrospective effect. When the Society is no responding to your grievance, you can escalate your grievance before the Registrar or Dy. Registrar of the Cooperative Societies concerned for a resolution in the matter, failing which you may escalate a complaint before the Consumer Forum seeking appropriate relief against the arbitrary and unjustified claim of the Society.
Until and unless a person becomes an owner of a flat through registration of a deed of conveyance and takes possession of the said flat from the Builder, a flat owner cannot be enrolled as a member of the Society. So, when the registration and handover of possession are held in the month of June, 2023, a Society cannot charge maintenance from the month of March, 23, when neither the registration is done nor you occupy the flat. Monthly maintenance is levied from the resident member from the month of possession of the flat by the owner/buyer. All kinds of charges including payment towards corpus fund leviable/chargeable from a member-owner of the flat from the date/month of possession of the flat post registration and not with the retrospective effect. When the Society is no responding to your grievance, you can escalate your grievance before the Registrar or Dy. Registrar of the Cooperative Societies concerned for a resolution in the matter, failing which you may escalate a complaint before the Consumer Forum seeking appropriate relief against the arbitrary and unjustified claim of the Society.
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