Apartment Association is collecting 1.35Crore for Painting
Our apartment Association, registered under The Karnataka Societies Registration Act of 1960, is urging residents to make a one-time payment of Rs. 24,000 for painting charges, aiming to collect Rs. 1,34,40,000/- from the 560 flats in the complex. I am seeking clarification on the legality of the following aspects: Can the association demand Rs.24,000 for painting if not all residents approve? Is it legal to collect Rs. 1,34,40,000 for the project if the association's bank account is Treasury?
Association needs approval from a majority of residents as per laws for such a major expense, not just urging and Collecting such a large sum into a treasury account is generally considered legal and secure, promoting transparency, For further contact us on helpline number.
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