One thought on “Non-Occupancy Charges in Society

  1. I have a different set of query. It is related to Sinking Fund and Reserves and Surplus Fund. We are an existing society in existence since last 42 years. We have substantial amount of money in the accounts mentioned above. Now we are deciding to go ahead with the Re-development of the existing building. When the new building will be ready at that time over and above the existing members we will have new members to whom the flats are sold by the builder. Now it will be difficult to segregate which amount belongs to only to old members. So I suggest that society should collect on pro-rate basis the amount from new members so that they become at par with the existing members. Just give an idea the current contribution by the existing members is Rs 150/- per square foot of flat carpet area. If a new member buys a flat having carpet area of 1000 sq.ft, he should contribute 150X 1000= 1, 50,000.Is this logic valid and practical. You may kindly advise.

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