Hi,
Model Bye-laws for Housing Society prescribes that the repair and maintenance fund to be changed on Area basis, 0.75% of the construction cost. This fund can be utilized for meeting the expeses of normal recrring maintenance, repairs & renewals of the society buildings/property.
My questions is -
Should the AMC contracts for amenities like Solar System, Vermiculture, STP, Intercomm be accounted as Repair & Maintenance (recurring maintenace cost)?
I believe that such AMC costs should be equaly shared by all the members as it covers the common aminities.
Looking for experts opinion on this.
Regards
PRK
