#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.
#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.
#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.
#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
#9: A. Venkateswara Prasad [ Owner of "Block-A, 1503 " ] Replied on 2019-04-20 at 11:32:03 in "Fortune Towers"
#8: K.Sitapathi Raju [ Owner of "Block-A, 703 " ] Replied on 2019-04-20 at 11:05:04 in "Fortune Towers"
#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.
#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,
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#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
#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
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#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%.
#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.