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Mumbai Housing Society Queries: Can Committees Offer Early Maintenance Payment Discounts And Charge Interest On Late Dues?

Mumbai Housing Society Queries: Can Committees Offer Early Maintenance Payment Discounts And Charge Interest On Late Dues?
Photo: Free Press Journal · view original

Q. Can a society committee reward members by offering a discount (let’s say, 0.5%, as approved during the annual general meeting) on early payment of maintenance charges? Can it simultaneously levy interest as per the bylaws if payment is not received by the due date? Gaurav Gandhi, Ghatkopar A....

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