NEW APARTMENT MAINTENANCE EXPENSE

Querist : Anonymous (Querist) 13 April 2010 This query is : Resolved
I am from gujarat i bought new flat in apartment where there is 9 others flat holder is there we want to form society to manage building maintenance funds (1) please let us know which procedure required to form society (2)what is advantage to form society to manage this kind of multiowner funds? is it safer than any other way to manage funds?

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Raj Kumar Makkad (Expert) 14 April 2010
Society formation is the best way for the management of the common issues, maintenance etc. You frame bye-laws and get the same registered.

Funds can be deposited in the bank account and proper accounting should be made of all the expenses and income at the level of society.

Querist : Anonymous (Querist) 14 April 2010
Thanks Mr.rajkumar for reply coud u please let me know that to which authority we should contact or society formation