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Maintenance Charges Calculation Housing Society-1

Co-op society maintenance charges calculation

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Nitin Pednekar
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779 views3 pages

Maintenance Charges Calculation Housing Society-1

Co-op society maintenance charges calculation

Uploaded by

Nitin Pednekar
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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MONTHLY MAINTENANCE CALCULATION AS PER BYE-LAW

While calculating maintenance charge a set of rules need to apply as per Co-Op Hsg Society
MSC Act 1960 & As per Bye Laws No 65 to 71 where mentioned details as following.
1. Area wise Contribution
a) Repair & Maintenance Fund Bye Law – 13 (a) & 67 (a) (3)
b) Sinking Fund Bye Law – 13 ( c ) & 67 (a) (5)
c) Property Tax Bye Law – 67 (a) (1)
d) Building Insurance Bye Law – 67 (a) (11)

2. Equal Contribution
Service Charges/Maintenance Charge Bye Law – 65 (g), 66 & 67(vi)

Service Charges: Salaries of the office staff | Society Office Expenses | Printing,
Stationery and Postage | Travelling Allowance and conveyance charges | Education Fund |
Subscription & Entrance Fee of the Housing Federation | Accounting & Audit Fees |
Meeting Expenses | Legal Charges | Common Electricity Charges | Repair Maintenance of
lifts | Any other charges approved by the General Body
3. Additional Charges
a) Non-Occupancy Charges Bye Law – 67(a) (10) & 43 (c)
b) Parking Charges Bye Law – 67(a) (7)

4. Interest on defaulted charges


Interest on dues Bye Law – 67(a) (8) & 71
Max 21% annually can charge.

5. Water Charges Bye Laws – 67(a) (2)

Above five are the main components which need to understand before making Bill/
Invoices for flats, so hereby given detail explanation for calculation:
Point No. 1: Area wise Contribution:
Repair & Maintenance Charges: First need to determine the construction cost of your
locality, 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: Let us take same scenario as above only % would be .25, then formula will be
for sinking fund as following

Construction Cost x .25% x Flat Area / 12 = Member Monthly Sinking Fund


Ex: 800 * .25% * 524
= 87
12

Point No – 2: Equal Contribution (Service Charge / Maintenance Charge)


Equal contribution calculation is very easy you need to calculate all service charges as
mentioned above and divide to no. of members.
No of Flat: 30

Sr No Service Charges Monthly Amount


1 Security Charges 10000
2 Housekeeping Charges 3000
3 Office Expenses 300
4 Electricity Bill 7500
5 Drainage Cleaning 500
6 Other General Expenses 1200
7 Audit Fees 250
8 Accounting Services 1500
9 Education Fund 300
10 Fire Fighting Services 800
11 Miscellaneous Expenses 500
12 Garden Expenses 0
13 Pest Control 0
Total 25,850
Service Charges Per Flat Per Month 862
(25,850/30) :

Point No – 3: Additional Charges:


1. 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.
2. Parking Charges as per Bye Law – 67(a) (7), 83 & 84.

Point No – 4: Interest on defaulted charges:


A Member shall be required to pay simple interest at twenty one percent per annum, or, at such
Lower rate as may be fixed by the General Body, on the outstanding dues to the Society,
From the Date the amount was due as prescribed under Bye-law no. 70(a), till full and
Final payment by the Member.

Point No – 5: Water Charges Calculation Bye Laws – 67(a) (2)

It is very difficult to calculate where flats area different like 1 BHK, 2BHK & 3 BHK. If flats
area is equal so can charge equal on every flat but in case of different need to charge inlet
& their size basis. Here example given below how to calculate water charges:
First of all, need to identify monthly water charge & total no of inlets, then calculate as following
Monthly per Inlet Charge = monthly water charge/ no. of inlets

Ex: Monthly Expenses on water is 5,000 and total no. of inlets (all flats) 90, monthly per
Inlet Charges = 5,000/90
= 55.55 (Let take it round figure Rs. 56 per inlet charges)
Let us assume 1 BHK has 3 inlets & 2 BHK has 4 inlets
So, water charge on 1 BHK will be Rs 168 and 2 BHK will be Rs 224

Now here is sample maintenance bill format for your understanding


XYZ CO-OPERATIVE HOUSING SOCIETY LTD.
Plot No - 3, Sec - 5, Panvel, Navi Mumbai - 102016
Invoice for Mar 2020

Flat No. : D-303 Name: Mr. Vikas S Patel

Bill Date: 01-03-2020 Bill No. : 102

Period: For Mar 2020 Due Date: 20-03-2020

Sr No Particular Amount

1 Service Charge (Equal to all members) 862

2 Repair & Maintenance Fund (.75% of Const. cost) 262

3 Sinking Fund (.25% of Const. cost) 87

4 Non-Occupancy Charges (10% of Service Charges) 86

5 Parking Charges 100

6 Water Charge (56 x 3) 168

Total: 1,565

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