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ANJAN (Sr. Accountant)     03 August 2023

Corpus fund can be compulsory for new members

We are in redevelopment process. Our question is when builder gives the Corpus fund for Maintainance then in new building new members will also benefited from same ? or Society have rights to use for existing members only ?



Quick Summary
This discussion explores whether new members joining a society during redevelopment must contribute to the corpus fund. It questions if the fund, often provided by developers for redevelopment, can be exclusively used for existing members or if new purchasers are also entitled to benefit and must pay. The general consensus is that corpus funds belong to the society and new members are typically required to pay it, with the society deciding on its allocation for maintenance or renovations.

 2 Replies

T. Kalaiselvan, Advocate (Advocate)     03 August 2023

Corpus funds belong to the society which should be used for the major tasks including renovation etc by society whenever it is required to. 

The new members are also required to pay corpus funds as applicable. 

ANJAN (Sr. Accountant)     03 August 2023

Thx for reply. We Society wants to use this Corpus for existing members maintainance for next 4 -5 years. Not for new flat purchaser is it possible ? because it gives by developers to existing society against its redevelopment. why society will give this benefit to new purchaser ? is it ok ?


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