Interest calculation on arrears housing society

Querist : Anonymous (Querist) 23 February 2022 This query is : Resolved
If a member has following overdues for example

Arrears as on 1 Apr 21 - Rs 1,80,000 ... Balance on principal - Rs 1,50,000 ... interest on arrears - Rs 30000
Maintenance bill per month ... Rs 7500 and the member is paying Rs 10000 every month regularly after 1 Apr 21

How is the interest on arrears to be calculated every month after 1 Apr 21

Follow Query

Report Abuse

kavksatyanarayana (Expert) 23 February 2022
Is it a question paper to the experts?

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Ask Query
Unanswered Queries

Member Strength 9,53,455 and growing..

Stay updated with latest Posts!

Download LCI APP

Our Network Sites

Trouble Logging in? Try following the given steps -
1. Visit your inbox to find a confirmation mail from LAWyersClubIndia.
2. Click on the confirmation link and confirm your signup

New users who have not received email verification mail click here to verify