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T.P. Varghese (Service)     15 June 2011

Obligation of builder/promoter while handing over

I wanted to know the obligations of builders for providing the proper accounts for the deposit received by him from the flat purchasers towards maintenance, society formation etc. If the builders is not providing proper accounts towards the above money collected by him to the society at the time of handing over of the society, what action can the society take ? Is the society liable to the members for taking proper accounts for the above deposit  from the builder? From which date the builder can collect the maintenance from flat owners ie. from date of handing over of the pocession or from the date of O.C. granted to the building? Please advice. 



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