How to calculate society maintenance charges as per bye laws? Housing Society Maintenance Charges

Queries:
How do you calculate society maintenance charges as per bye laws?
How to charge non occupancy charges?
How do I calculate maintenance charges for an apartment?
What is transfer premium when selling the flat?
How to calculate housing society maintenance charges as per bye law?
How to calculate repair and maintenance fund?
Where to find construction cost of building?
Cooperative housing society rules and regulation?
Society maintenance charges?
What is sinking fund in society?
What is hybrid method of Maintenance calculation?

1.Area Wise Contribution :
Following charges shall be calculated as per area of the flat. However in Bye-Law which area should be consider for Repair & Maintenance Fund and Sinking Fund is not mentioned, So we will suggest consider the built up area, like in Bye-Law suggested Building Insurance should be ( 67(a)(11) calculated on built up area of each flat.

Repair & Maintenance Fund - Bye Law – 13 (a) & 67 (a) (3)
Sinking Fund - Bye Law – 13 ( c ) & 67 (a) (5)
Property Tax - Bye Law – 67 (a) (1)
Building Insurance - Bye Law – 67 (a) (11)

Repair & Maintenance Fund - Bye-Law No 13(a)
Let us assume @ 800/ - Sq Ft then formula would be:
Construction Cost x .75% x Flat Area / 12 = Member Monthly Repair Fund
Ex: 800 x .75% x 524
------------------------ = 262
12

Sinking Fund Calculation - Bye-Law No. 13(c ):
Let us assume @ 800/ - Sq Ft then formula would be:
Construction Cost x .25% x Flat Area / 12 = Member Monthly Repair Fund
Ex: 800 x .25% x 524
---------------------------- = 87
12

2. Equal Contribution: Service Charges/Maintenance Charge: Bye Law – 65 (g), 66 & 67 – Service charges should be divided equally to all members irrespective of area. eg Watchman Salary, Sweeper Salary, Common Electricity Charges, Audit Fees etc..

3. Additional Charges
Non-Occupancy Charges: Non-Occupancy Charges as per Bye-Law No. 67(a) (10) & 43 (c) and government notification for Non-Occupancy Charges MH Govt. GR No 20081104172832001 of 1 Aug 2001.
Parking Charges: Bye Law – 67(a) (7), 83 & 84.

4. Interest on defaulted Charges: Bye-Law No. 71: A Member shall be required to pay simple interest at 21 percent per annum simple interest on outstanding

5.Water Charges - Bye-Law No. 67(a)(2))
First of all need to identify the monthly water charge & total no. of inlets, then calculate as follows:
Monthly per Inlet Charge = Monthly water charge/ no. of inlets
Ex: Monthly Expenses on the water is 5,000 and the total no. of inlets (all flats) is 90, then monthly per Inlet Charges = 5,000/90 = 55.55
(Let take it around figure Rs. 56 per inlet charge)
Let us assume 1 BHK has 3 inlets & 2 BHK has 4 inlets
So the water charge on 1 BHK will be Rs 168 and 2 BHK will be Rs 224

Interest on defaulted charges Bye - Law 71
   • How do you calculate interest on main...  
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Disclaimer: "This video reflects my own understanding of the respective topics. This video is for educational and informational purposes only and is not
intended to infringe on any copyrights.This content is based on many references source, Model Bye-Law, MCS ACT 1960 and absolutely as per my experience
and is probably is correct in my view but in general you should always verify by yourself or your legal advisor. If you believe that this video has
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