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Major Repair Expenses

The document discusses major repair expenses for a co-operative housing society. It states that a society can collect contributions to a major repair fund through a general body meeting, with the rate based on flat area. It also notes that the general body, not the managing committee, must decide how the fund is used for major property repairs. Additionally, appointing an architect, legal advisor, and following proper tendering processes are necessary prerequisites for properly executing major repairs to the society's property. The document stresses that all expenses related to major repairs should be accounted for under that heading to avoid future disputes.

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Shirish
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193 views1 page

Major Repair Expenses

The document discusses major repair expenses for a co-operative housing society. It states that a society can collect contributions to a major repair fund through a general body meeting, with the rate based on flat area. It also notes that the general body, not the managing committee, must decide how the fund is used for major property repairs. Additionally, appointing an architect, legal advisor, and following proper tendering processes are necessary prerequisites for properly executing major repairs to the society's property. The document stresses that all expenses related to major repairs should be accounted for under that heading to avoid future disputes.

Uploaded by

Shirish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

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Major Repair Expenses


A Co-operative Housing Society may collect contribution to major repair fund as per the
decision to be taken in General Body Meeting of Society. However, the rate of contribution
must necessarily be on the basis of the area of the flats.
The use of the major repair fund, as the name itself suggests, is to be done for undertaking
major repairs of the property of the Society. The decision about using the fund is therefore
to be taken by the General Body only and it cannot be left to the Managing Committee to
decide. Moreover, appointment of architect as project management consultant,
appointment of legal advisor for drafting the contract of assignment and tendering process
are necessary prerequisites for proper execution of the required and intended major repair
to the property of Society.
None of the expenses relating or attributable to the major repairs should be accounted under
other headings. If care is not taken for above noted accounting requirement it can take the
shape of bone of contention later on.

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