charging of major repair fund in maintenance bill of a coperative housing society in maharashtra state

  Typically, MRF is created when specific urgent repair work is required.

 I recommend consulting with a legal expert or a lawyer specializing in cooperative housing society laws in Maharashtra to get specific guidance on this matter.

They can help you understand the legality of collecting MRF and insurance premiums regularly and advise on the appropriate course of action. 

Some possible questions to ask the legal expert:

 1. Is the collection of MRF and insurance premiums every quarter justified under Maharashtra cooperative housing society laws?

 2. Are there any specific provisions or bye-laws that allow for such collections?

3. Can the society accumulate funds for future repairs without a specific urgent need?

4. Are there any restrictions on how these funds can be utilized?

Many thanks sir for your valuable legal views 

Best regards 

 It is legally justified for a housing society to collect maintenance and repair funds periodically, as long as the society follows the Real Estate (Regulation and Development) Act (RERA) and other relevant laws.

The builder or developer must sign a maintenance agreement with the buyer that specifies the amount and frequency of maintenance fee payments.

The society should establish a maintenance fund at a general body meeting that is at least 0.75% of the construction cost of each flat per year. The fund should be used to cover the costs of normal repairs and other expenses. 

Any demands for maintenance billing must be approved by the Annual General Meeting (AGM) or Special General Meeting (SGM). If a demand is raised without approval, it can be challenged in court. 

Thanks a lot sir for your legal opinion.

Kind regards 

In our complex society already charge 0.75% repair fund. additionaly we  want to collect charge Major repair charges 2% of square feet? is it leagal? please guide

Rajesh SIngh

Chairman 

The byelaws provide for collection under Repairs and Maintenance Fund at a specific rate. If the Managing Committee finds that the amounts available in the Fund are not sufficient, they can make an estimate of the additional amount required and call a general meeting to approve the same. The general meeting can also decide whether the amounts are to be paid in a single instalment or in monthlly or quarterly instalments over a period of time.

Many thanks sir

Best regards