How much interest can a society charge on maintenance arrears? मेंटेनन्स थकबाकीवर सोसायटी किती व्याज लावू शकते?
Short answer
Under bye-law 70, simple interest of up to 21% a year, or a lower rate fixed by the general body, can be charged on arrears from the due date. A member who does not pay the amount in the demand notice on time becomes a defaulter and the committee can start recovery (bye-law 69). Note: the 2026 amended rules are reported to lower this ceiling — see the 'Updates' section in the app.
Related bye-laws
Bye-law No. 70: Interest on arrears
Simple interest up to 21% per year, or a lower rate fixed by the general body, is charged on dues from the due date till payment. (Note: the 2026 amended Rules reportedly reduce this ceiling — see 'Updates'.)
Bye-law No. 69: Default and recovery
A member who does not pay within the period under Section 73CA is a defaulter. The Secretary reports defaults to the Committee, which initiates recovery under Section 101.
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