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Right to return on investment of residents over solar energy system
24-Jul-2023 (In Property Law)
Hello, our apartment complex plans 20kw solar energy system. We give Rs 4000/apt x 140 apartments for the installation. The association doesn't mention ROI for the residents, but they keep using ROI/savings to install the system. It reduces common area electricity charges, which is otherwise funded by monthly maintenance charges. As I give Rs 4000, isn't it my investment and I m a stakeholder and hence ROI for me? Do I have the right to reduction of monthly maintenance charges corresponding to the savings? Or can the association keep the money and the ROI and do whatever they want? Thank You.
You have to go through the bye law of your association and what it says about such installation. The money you are putting is your investment but the place they install belongs to the association and hence the matter has to be discussed threadbare with the association.
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Adv. G. Asok
Chennai | 200+ Answers
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Has your association obtained the consent of all the members for installation and operation of the solar energy system? If so, what are the terms and condition? The association cannot act unilaterally.
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Adv. Swaminathan Neelakantan
Coimbatore | 400+ Answers
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