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sunil amarlal hinduja

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Apr 20, 2019, 1:31:59 PM4/20/19
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From: "sunil amarlal hinduja"<hinduj...@rediffmail.com>
Sent: Sat, 20 Apr 2019 22:58:46
To: "fortune...@commonfloor.com"<fortune...@commonfloor.com>
Subject: Re: [Fortune Towers]No subject

20-04-2019
To,
The Executive Committee
Fortune Towers Owners Welfare Association
Fortune Towers, Madhapur, Hyderabad-81
Dear Sir(s),
Reg: Increase in Maintenance Subscription
Greetings! Any decision in a community has to be taken based on facts and figures, Consensus amongst members and respect for Majority Opinion.
Based on Facts and Figures I see no reason for increasing the Maintenance Subscription. The interest earned on Corpus Fund can definitely be utilised for Maintenance Expenses.
There is no consensus amongst the members because misrepresentation and lack of transparency from the EC. Even the statements sent by E-mail show different figures for Security Services and Housekeeping.
A simple exercise has unnecessarily been complicated by the E.C.
A simple confirmation from all the members could have been taken through their choice among three options by sending across one A4 size paper to them Viz.
a) To meet the Maintenance Expenses through the corpus Fund Interest and existing Maintenance Subscription-Yes or No
b) To raise the Maintenance Subscription from Rs. 1.50 to Rs.2.00 (Excluding the Electricity Charges)-Yes or No
c) To abide by whatever decision is taken by the Executive Committee  
The E.C. could have revealed the Majority opinion and Consensus and taken the decision easily.
 
 
 
 
 
 
Kindly understand that the Members who willingly and Whole heartedly supported the EC’s decision to contribute Rs.100 Per Sq.Foot towards Corpus Fund in a period of just four Quarters why are they showing reluctance now for a mere Rs.6=00 per year?
It is because their trust has been belied, facts twisted and misrepresented and lack of transparency on the part of E.C. has led to suspicion.
Kindly note that the Function of the Executive Committee is to serve the Members and Maintain and Manage the Community. The E.C. is not here to override the Members but to abide by their Cause which is off course based on facts and practicality.
This is where our E.C. appears to be Faltering……
Instead of working for the Community it is creating it’s own Agenda which unfortunately is not in the right spirit.
If the E.C would have just followed the above simple exercise perhaps things would have been very different.
Further, The approach and zeal of aiming to just increase the corpus fund without resorting to a balanced mix of expenditure has resulted in this confusion and Commotion.
For Example- a Capital Expenditure of Rs.20 Lakhs (Approximately) on Cameras led to a maintenance of only Rs 2.00 Lakhs (Approximately) per Annum. This not only increased the amenities and value of our community but kept the maintenance cost low leading to balanced spending.
Without Cameras we would have been perhaps spending additional ten lakhs every year on Salaries for Security Personnel.
The Very fact that a Corpus Fund is created is to constantly utilize it to balance the Maintenance Expenses which is unfortunately not being done in our Community.
We see no Automation in the two major Expenses of Our Community namely Security and Housekeeping to reduce the maintenance costs.
Has the E.C ever undertaken any exercise to find alternates to the above massive expenses being made through a single vendor?
 
 
Or to conduct any time and motion studies to determine the actual method of securing our community with least expenditure on Salaries?
Even a simple exercise of buying a Cycle for Patrolling by Security Personnel would have, in my opinion, saved us a lot of Money on Maintenance Charges by reducing the number of Personnel Required.
In a nutshell, Instead of doing constructive activities much valuable time,effort and resources are being wasted on things which are also leading to a great divide and rift amongst the Community.
I think its time the E.C. sat down keeping Personal Likes, Dislikes,aspirations, Prejudices etc. and prioritize and work in unison keeping only the interests of the Members Paramount and what is more important for the community.
As far as the Resources are concerned they will always follow Trust, Transparency and a zeal to serve.
Thanks and Regards
Sunil A Hinduja
 
Thought for the Day:
The Man Who Will Use his Skill and Constructive Imagination to see how much he can give for A Dollar instead of how little he can give for a Dollar,is Bound to Succeed
 
 
 
 
 


From: "Pooja Khaitan (255p...@gmail.com)" <fortune...@commonfloor.com>
Sent: Sat, 20 Apr 2019 21:16:13
To: <fortune...@commonfloor.com>
Subject: Re: [Fortune Towers]No subject
 
--- Reply above this line only ---
#16: Pooja Khaitan [ Owner of "Block-D, 1104 " ] Replied on 2019-04-20 at 21:15:04 in "Fortune Towers"
Completely agree with Nupur. 
 
Why do we need to be so selfish and hoard the amount only for resident owners? It’s a community we live in and let’s live as one, whether tenant, owner or resident. If the bank interest amount on our Corpus can be used to benefit the community as a whole then we should feel proud!!!
 
Thankfully we are all in good capacity to handle the increase but is it really necessary? Seeing the deterioration in housekeeping and security services as Arun ji pointed out, I definitely wouldn’t want an increase for them. Yes, if we upgrade ourselves to a better and more professional service provider, and are falling short of funds, an increase in charges is most welcome. No issues at all. 
 
The EC has done great work in the past and I’m sure shall continue doing so with the enthusiastic and dedicated members it has, but seeing the present scenario and the explanations given by Abhishek, I too feel we are being slightly hasty with the increase in charges. 
 
Let’s discuss this with an open mind in tomorrow’s meeting.
 
 

On Apr 20, 2019, at 8:38 PM, NUPUR ANCHLIA (n.anc...@gmail.com) <fortune...@commonfloor.com> wrote:

#15: NUPUR ANCHLIA [ Owner of "Block-B, 703 " ] Replied on 2019-04-20 at 20:38:03 in "Fortune Towers"
I don’t understand the logic of not touching the owner’s fund who are not the residents, on the ground that they are not here to participate. This situation is bound to be there at any point of time. Does that mean that we will let the funds remain intact for the rest of the period??? We can take an informed and conscious call about how and where to use these funds reasonably  within the broad acceptable parameters but cannot rule it out completely. 
 
Ultimately the owners will also be beneficiaries in the form of reduced maintenance charges.
 
Further, It isn’t a task to communicate with the residents and get their buy in/ objection, to address your concern on their participation. 
 
BTW, do we have any data on how many residents cum owners 

#14: NUPUR ANCHLIA [ Owner of "Block-B, 703 " ] Replied on 2019-04-20 at 20:37:04 in "Fortune Towers"
I don’t understand the logic of not touching the owner’s fund who are not the residents, on the ground that they are not here to participate. This situation is bound to be there at any point of time. Does that mean that we will let the funds remain intact for the rest of the period??? We can take an informed and conscious call about how and where to use these funds reasonably  within the broad acceptable parameters but cannot rule it out completely. 
 
Ultimately the owners will also be beneficiaries in the form of reduced maintenance charges.
 
Further, It isn’t a task to communicate with the residents and get their buy in/ objection, to address your concern on their participation. 
 
Thanks,
 
Nupur
 

#13: K.Sitapathi Raju [ Owner of "Block-A, 703 " ] Replied on 2019-04-20 at 19:38:03 in "Fortune Towers"
Thanks  sir for  supporting  the  comity. 
 
On Sat, 20 Apr 2019, 15:05 Dr.Usha Itticheria (usha...@gmail.com), <fortune...@commonfloor.com> wrote:

#12: Dr.Usha Itticheria [ Owner of "Block-A, 704 " ] Replied on 2019-04-20 at 15:04:03 in "Fortune Towers"

I have been following the correspondence on this subject and I feel that the Management committee is fully justified in recommending increase in the maintenance charges. I will be paying the new maintenance charges today. We would like the quality of service to be maintained.

Regards

Dr Usha Itticheria

A-704

 
 

#11: R.R.M.Krishnam Raju [ Owner of "Block-B, 1503 " ] Replied on 2019-04-20 at 12:11:04 in "Fortune Towers"
I agree with you sir.
 
Regards,
Krishnam Raju.
 
On Fri, 19 Apr, 2019, 9:37 PM P.bhaskar Rao (pel...@gmail.com), <fortune...@commonfloor.com> wrote:

#10: D.V.Sesha Reddy [ Owner of "Block-B, 1602 " ] Replied on 2019-04-20 at 11:35:04 in "Fortune Towers"
I agree with Sri. Bhaskar Rao and already paid increased maintenance charges along with 100 others.
Sent from my iPhone

On Apr 20, 2019, at 11:05, K.Sitapathi Raju (kosuricon...@gmail.com) <fortune...@commonfloor.com> wrote:

#9: A. Venkateswara Prasad [ Owner of "Block-A, 1503 " ] Replied on 2019-04-20 at 11:32:03 in "Fortune Towers"
I am agree with you.
 
Sent from my iPhone

On 19-Apr-2019, at 11:03 PM, Mrs.A.Sunita (deepa...@yahoo.com) <fortune...@commonfloor.com> wrote:

#8: K.Sitapathi Raju [ Owner of "Block-A, 703 " ] Replied on 2019-04-20 at 11:05:04 in "Fortune Towers"
I agree  with you. 
 
On Fri, 19 Apr 2019, 21:37 P.bhaskar Rao (pel...@gmail.com), <fortune...@commonfloor.com> wrote:

#7: M.M.Reddy [ Owner of "Block-D, 1402 " ] Replied on 2019-04-20 at 09:14:03 in "Fortune Towers"
The  present maintenance charges fixed by the builder long back  in 2010-11and   EC able to maintain the same without increase in last 8 years which is great.
Now, time to increase and maintain standards.
 
Best regards
Mahendra
 
 
 
 

#6: Kiran [ Owner of "Block-C, 201 " ] Replied on 2019-04-20 at 09:01:05 in "Fortune Towers"
Hello All, i am in agreement and in absolute support for the increase as well the incremental proposed thereafter. Reasons provided are clear and well understood.  
 
I am also delighted to see many others who have rallied-in with their agreement. 
 
Besto and have a super weekend!!
 
Kiran 
 
Sent from my mobile. Please ignore typos.

On Apr 19, 2019, at 23:07, P.bhaskar Rao (pel...@gmail.com) <fortune...@commonfloor.com> wrote:

#5: P.Venkat Rama Rao [ Owner of "Block-A, 202 " ] Replied on 2019-04-20 at 07:11:04 in "Fortune Towers"
I also fully agree with views expressed by sriBhaskerrao,
Sent from my iPhone

On 19-Apr-2019, at 10:02 PM, D R SIRISHA (raviver...@gmail.com) <fortune...@commonfloor.com> wrote:

#4: Mrs.A.Sunita [ Owner of "Block-C, 1202 " ] Replied on 2019-04-19 at 23:02:03 in "Fortune Towers"
Dear all, I agree with the increase of maitaince costs. Better the Maintaince the longer the life of apartments. Hence there should not be any compromise with regards to standard of maintenance. 
Thanks 
Deepak
C 1202
Sent from my iPhone

On 19-Apr-2019, at 10:41 PM, Vithalrao Lakkaraju (vitha...@yahoo.com) <fortune...@commonfloor.com> wrote:

#3: Vithalrao Lakkaraju [ Owner of "Block-A, 701 " ] Replied on 2019-04-19 at 22:40:04 in "Fortune Towers"
I fully endorse and agree with Sri P. Bhaskara Rao Garu’s views . 
--
Vithalrao Lakkaraju 
A-701, Fortune Towers,
Madhapur,
Hyderabad-500081
 
 
Sent from my iPad

On 19-Apr-2019, at 10:03 PM, D R SIRISHA (raviver...@gmail.com) <fortune...@commonfloor.com> wrote:

#2: D R SIRISHA [ Owner of "Block-A, 702 " ] Replied on 2019-04-19 at 22:01:06 in "Fortune Towers"
Sir I agree with you 100%. 
 
On Fri, 19 Apr 2019, 21:37 P.bhaskar Rao (pel...@gmail.com), <fortune...@commonfloor.com> wrote:

#1: P.bhaskar Rao [ Owner of "Block-A, 501 " ] Started a new discussion on 2019-04-19 at 21:36:03 in "Fortune Towers"
No subject

My Dear Friends/Co-owners  of  Fortune Towers,

 

1.      I am addressing this e mail in connection with the forthcoming Sunday’s AGM of the Owners of the flats of fortune towers. There is one very important item coming for discussion in this meeting. That is to increase monthly maintenance charges and common area electrical charges from Rs.2/- per sft per month now to Rs.2.50 per sft per month.

2.       In this connection I wish to present the following figures for the information of all the owners of the flats.

Sl.No

Item of expense

Price in 2012

(Rs)

Present price in 2019(Rs)

Percentage increase(%)

1

Salary of Security officer

16300

23596

45

2

Housekeeping supervisor

10000

13483

35

3

Salary of Sr.Electrician

15500

24867

60

4

Electricity Charges( Per KVA)

50

60

20

5

Electricity Charges( Per KWH)

5

6.30

26

6

Lift Maintenance per passenger

6666

8508

28

7

Diesel Rate per litre

50

72

44

 

3.      The above are only few items. You will agree that there is increase in cost in every walk of life over a period of seven years.  Even if only the inflation index is considered for the past seven years that is also at an average 5% per year, in fact it went up to over 10% during 2012 to 2015. Therefore the proposal to increase 25% in maintenance cost from Rs.2.00 to Rs.2.50 per sft per month is most reasonable. In fact I will go to an extent of suggesting that there must be increase every year at the rate equivalent to inflation index say 5%. That would not look too much bather some to all of us and will go unnoticed and would not look like huge increase when it is done at one point of time like now.  

4.       One important argument being put forward by some owners, including my two daughters who also live here and own each an apartment is that why not the  interest earned on Corpus fund deposits be used for the maintenance expenses if the present Rs.2.00 per sft per month is insufficient. That is an absurd argument due to following reasons:

a. The corpus fund belongs to the owners of the flats whereas the maintenance expenses are being incurred for the Residents. All owners are not Residents.  We have no right to use the non resident owner’s money just because they are not here to participate in this kind of deliberations.

b. There is huge increase in cost of capital items for the same argument I have put in the paras 2 and 3 above. For example if we replace the Generator this year it may cost Rs.50 Lakhs and if we need to replace it after another three years it may cost Rs.100 lakhs. Similarly if we have to paint the towers it may cost Rs.150 lakhs now and the same would be much more next year.  I can quote several examples like these items.   

Therefore the interest we earn on the FDs of Corpus fund must go to meet the increase in cost of capital items. The corpus fund is for safe keeping of the capital items which will retain the value of our complex and it belongs to all the Owners of the flats.

Therefore I suggest we agree for the proposed increase in maintenance.  Of course I agree that there must be cost reduction exercise seriously implemented to save cost. Ours is mutual association any saving will be beneficial to all.

 

Hoe you will find time to read this mail before this Sunday.

 

Best Regards

Bhaskara Rao Pelluru

A-501.


 

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