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Clarification onamount to be paid on flat being merged to a society?
27-Feb-2023 (In Property Law)
Hello, I had purchased a flat in pune. While booking of the said flat builder didnt ask me to pay a courpus fund and mentation any where in documentation part. However he charged the courpus fund from another flat owner. Now builder wants to merge us in to society, but society is accepting us.they are demanding a certain amount from each flat for taking a share on their current and fixed assets. from our building some flat owner is not ready to pay because of they already paid a courpus fund to builder. In my case should i need to pay that amount to society?
Firstly you send a notice to builder and society with your concern and wait for their reply. If their answer is not satisfactory then you approach the court. Yes after the society formation in new building you are liable for certain payment to society. So if in their answer they ask for some thing illegal amount then you approach to society registrar office
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Adv. Vijendra Rai
Mumbai | 100+ Answers
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Should tenants pay corpus fund?
The tenant must pay the corpus. Dear Client, an owner of self acquired property can sell his property to anyone and the legal heirs do not have any claim on it. If your grandfather has left you the self-acquired property...
What is the rule of corpus fund?
The corpus fund calculation is based on the square foot. The amount may be more than Rs 1 lakh. The corpus fund will be transferred to the Sinking Fund after the formation of a housing society for major repairs, structural additions, reconstructions, or redevelopments. This is what the English word corpus fund means. 17-Jan-2022
What are the benefits of a corpus fund?
A corpus fund provides an organization with a reliable and stable source of funding over time. The funds income can be generated even in times of financial uncertainty or market volatility because the principal is not touched. 03-May-2023
Who pays Corpus fund in redevelopment?
The fund is used to pay for major repairs or renovations. Residents Welfare Association collected the corpus funds from homeowners. The association does not have to pay GST. The buyer of a property which has been remodeled and redeveloped is still required to pay the corpus fund.
Hello,
Corpus fund generated and kept for the existence and working of the organization. Normally a corpus fund is a permanent fund kept for the basic expenditures needed for the administration and survival of the organization. It will be more apropriate to guide you after going through your agreement with builder and communication with the society.
Kindly contact me
Regards
Corpus fund generated and kept for the existence and working of the organization. Normally a corpus fund is a permanent fund kept for the basic expenditures needed for the administration and survival of the organization. It will be more apropriate to guide you after going through your agreement with builder and communication with the society.
Kindly contact me
Regards
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Adv. Amruta Mehendale
Pune | 25+ Answers
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