Sinking & repair fund सिंकिंग व दुरुस्ती निधी • सिंकिंग व मरम्मत निधि
3 related bye-laws. Tap any one to read its summary.
Bye-law No. 13: Repairs, Major Repairs, Sinking and Education Funds
Repairs & Maintenance Fund: rate fixed by the general body, minimum 0.75% per year of the construction cost of each flat. Major Repairs Fund: as required, pro-rata on area. Sinking Fund: minimum 0.25% per year of construction cost (excluding land), as certified by the architect. Education & Training Fund: Rs. 10 per flat per month or as decided.
Bye-law No. 14: Utilisation of funds
Reserve and Repairs Funds are used for repairs, maintenance and renewals. The Sinking Fund is used, on a general body resolution, for reconstruction, structural changes or heavy repairs certified by the architect. All funds are used only with prior approval of the general body.
Bye-law No. 66: How charges are apportioned
Property tax: as fixed by the local authority. Water: by number and size of inlets. Repairs: minimum 0.75% of construction cost per year. Lift: equally among all members of the building whether they use it or not. Service charges: equally per flat. Parking: rate fixed by general body. Insurance, lease rent, NA tax: by built-up area. Education fund: Rs. 10 per month. Election fund: equally.