Q:
Hi,
I am getting new Flat possession with in 2-3 months which is already delayed one year by Builder. In Final payment they are asking following:
Maintenance charges (for 2 years) ,
Sinking fund (payable at the time of possession & finally handover to society)
and Club membership (Payable on completion)
My township has 10 towers and only 5 towers is launched and under construction. GYM, Swimming pool, sport complex like amenities are not started and as per them it will be grounded after complete township I believe 10 years later from now.
So what are the charges actually payable because these is not beneficial for me in couple of future years.
Hi Rahul, I think this charge is mentioned in your sale agreement paper and I think you have to pay according to the payment plan. .Also, you can consult a reputed lawyer to know about the legal aspects of the order and what is mentioned in your property agreement.
Hello Aditya, Thanks for replying. My concern is, do I really need to pay this charges at the time of possession or at the time when they provide me those amenities?
12th October 2015
Usually the minimum contribution of sinking fund is 0.25% depending on the area of the apartment. The amount can be increased as well as decreased if the general body deems fit so. Also note that the value of the land is not included in sinking fund, because at a later date only the constriction cost has to be borne by the society.
Thanks Victor for writing, In my case sinking fund is Rs 30000/- which is 1.4%. They also mentioned in the sale agreement paper about maintenance charges. Rs 30000/- for 2 years only and Club membership which is not started yet. So still I need to pay those amounts and most important when?
12th October 2015
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