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Various charges collected by the Society depends on a varied range of factors

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There is a wide range of charges which are to be collected under various provisions by the Society. They are applicable on the basis -
• Property taxes: - As per the norms of Local Authority, on the source of the ratable value of the flat/ shop per sq.ft and should be collected accordingly. There should not be any added collection of charges by the society if the property tax is collected by the Authorities independently in reverence of each flat/shop. • Water charges: - these charges are pertinent on the root of total number and size of the inlets provided to each flats. • Common Electricity billings: - It is same for all the consumers. • Contribution to Repairs and Maintenance of the building/ Buildings of the Society:- It may fluctuate from time to time as directed by the General body, which refers to minimum of 0.75% annually of the construction cost of each flat for meeting the operating expense of normal persistent repairs. • Expenses on Repairs and Maintenance of the lifts of the society including charges for running the lift: - It should be shared equally by all the members of the building where ever lift is provided, irrespective of their choice of use. • Contribution to Sinking Fund: - As under Bye-laws No.13 (c), at the rate determined at the meeting of the General Body, subject to the least of 0.25 percent annually of the construction cost of each flat, including the balanced price of the land. • Service Charges: - it is also equally shared by the number of flats/shops/unit. • Car Parking Charges: - It is fixed by General Body of the Society at its summit under the bye-laws No.84/85. • Interest on the Delayed payment of charges: - It should not be more than 21% fixed under Bye-laws No.72 from the defaulters. • Repayment of the Installment of the loan and interest: - Each installment should be paid with interest as set by the financing organization. • Non Occupancy Charges:- As per the bye-laws No. 43 (2)(iii)(c ), the members shall give non possession charges to the society at such pace as is decided by the summit of the General Body of the society. It should not be exceed the margin of 10% of service charges. • Insurance Charges:- The built-up part of each flat, provided that if there is added to in the insurance premium due to storing any specific goods in any flat, used for commercial purpose, the extra burden of insurance premium shall be shared by those who are responsible such increased premium in percentage to the built up region of their flats. • Lease Rent: - It solely depends on the built-up region of each flat. • Non Agricultural Tax: – It is also on the built-up region of each flat.
Source: NIMMA BENGALURU

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