Formula & Calculation Methodology
Sinking Fund = (Carpet Area * Rate * 0.25%) / 12 | Repair Fund = (Carpet Area * Rate * 0.75%) / 12.
Step-by-Step Worked Example
1,150 sq ft flat @ ₹3,000/sq ft construction cost
- Flat Cost: ₹34,50,000
- Sinking Fund (0.25%): ₹719/month
- Repair Fund (0.75%): ₹2,156/month
- Common Lift/Security/Water: ₹1,800/month
Result: Fair Monthly Maintenance: ₹4,675 / month
Frequently Asked Questions
Can a housing society charge extra maintenance from tenants?
Under model bye-laws, societies can only charge a Non-Occupancy Charge capped at a maximum of 10% of the service charges.
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