In our last post we have talked about the responsibilities that the management committee of a housing society need to undertake. Today, we will discuss about some of the powers this committee possess. However, be assured that even the powers too stem from the responsibilities and duty towards the society itself. So let’s have a look.
- Regarding and scrutinizing the acceptance of deposit and raising of loans.
- To examine and recommend the rates of contribution towards the funds like repair and maintenance and sinking fund.
- Additionally to consider and handle everything related to the repair maintenance fund and sinking fund- their creation, investment and utilization.
- To elect and authorize a member of the committee with the power to attested deed of conveyance, share certificates and any other documents that need a seal of authority from the society.
- Issuing letters of allotment of the flat to the owners who have purchased units in the society.
- To consider and fix the rates of penalty to be applicable in case of any breaches to the bye-laws.
- To issue show cause notice in case of any breaches to the bye-laws identified.
As you see, there are number of powers and responsibilities that are enjoyed and also partaken by the management committee of a housing society. At CHSONE, while we appreciate and admit that totally substituting human power and intelligence is impossible, we aim to simply the work of managing a society by streamlining and automating the work-flow.