Sinking Fund Contribution

Associate R (Querist) 02 December 2008 This query is : Resolved
As per Bye-laws of the Co-operative Housing Societies, the contribution towards sinking fund should be at least 1/4 percent per annum on the cost of the each flat excluding the cost of the land. Can anyone please explain the meaning of the cost of the flat or it' interpretation and how it should be calculated?

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Manish Singh (Expert) 08 December 2008
forstly, see whwther the by laws provide any method to evaluate cost of flats or not. if not then you will have to take the cost of flat as per sale deeds.
better consult this at the meeting of your society.