The cost of Pujari's Accommodation to MHV Society

[Vamsi Krishna]

Hi All

Here is sharing a simple ad straightforward calculation to estimate the value of Pujari's Accommodation that MHV Society is bearing as Cost and Loss of Revenue over 20 years.

We are indeed a very generous society, while a handful of people are mismanaging the financials of the society. Please point out any misgivings in this calculation and provide your inputs, if any.

Assumptions

• Three 2BHK flats being constructed on CH2 terrace

• The construction is commercial category, which means

•Its supposed generate revenue to MHV

•It attracts GST

[Vamsi Krishna]

Hi All

Did not have full information, that is why I mentioned the assumptions clearly. Here is the re-worked calculation:

• As it is commercial space, the cost of 750 SQ FT can be assumed to be higher than residential. So, retaining 1.5 Cr per flat.
• Occupancy can be assumed at 25 days a month - anyone can adjust with more informed estimate of occupancy.
• Rest assumptions are the same.

Overall, if we sell it, we can get about INR 4.5 Cr. And if we construct and rent it, we can get INR 2.25 lakhs a month/ INR 27 lakhs a year.

Best regards

Vamsi Krishna

On Thu, Feb 9, 2023 at 2:06 PM Pallepati C Rao <palle...@gmail.com> wrote:

Vamsi

2 BHK flat in MHV is minimum 1115 Sq Ft

The Pujari’s flat is around 750 you can check the plan for exact price.

Our flats have undivided share and pujari accommodation will be a property of MHVWA

Here the buyer will get all rights, but Pujari  will just stay as long as he is with our temple.

As a layman I feel the calculation is misguided 

P C Rao

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[Vamsi Krishna]

He he - I like some comedy as well.

Whole CH2 cost is not calculated. It's the value of those 3 flats for commercial use. Anyone with basic common sense may understand. Some may adjust assumptions, but the argument still holds true.

Our highly qualified chartered accountants in MC can comment and throw better light. In fact, they should be doing this, as they took up the roles in MC - not I, trying to scramble in between my work.

Best regards

Vamsi Krishna

On Thu, Feb 9, 2023 at 2:31 PM Pallepati C Rao <palle...@gmail.com> wrote:

The construction cost of the club house was included in the cost of the 2000 flats,

Hence we can’t assume the cost separately and add a value to it 

The 4 crores is just an assumption and not a loss at all

P C Rao

[Vamsi Krishna]

Hi PC - intentional or not, it was a  good joke. I don't know  what else to  make  out of  it. 

Here construction cost I assumed was INR 50 lakhs from MHC, and INR 15 lakhs from MHV Funds. That is not even the main point.

I trust others too would enjoy the comedy whoever makes it, without me forcing them to notice:-)

On Thu, Feb 9, 2023 at 2:57 PM Pallepati C Rao <palle...@gmail.com> wrote:

Vamsi 

I have not made fun of ur statements, but if u think I’m making. Come fly and u enjoy. U can.

What I meant was when both the club houses were built the cost of the club houses was added to our flat cost and not separately like what ur doing now.

And regarding commercial rate, ur wrong. Cost of construction is cheaper for commercial complexes.

Now I think others will realise whose making comedy 

P C Rao

[Vamsi Krishna]

Hi PC  - there are educated and less educated folks in our society. But overall, we are all reasonably educated to understand when someone proposes to build something on our land/floor etc, that we are also donating that land or floor, which has a market value.

In fact, even formally uneducated people are highly educated in these matters. 

Therefore, I am not really sure what to think of.

Nevertheless, you can calculate your own way and share your views to owners direct as much as I can. Thats all I can say.

Have a good day.

On Thu, 9 Feb, 2023, 15:28 Pallepati C Rao, <palle...@gmail.com> wrote:

Vamsi 

I’m not as highly educated as u are. As a layman I treat what Association is spending and rest whatever is coming from MHC as donation 

So simple math with 15 lakhs society money we are giving 3 poojari rent worth atleast 60000 

Yearly rent is around 720000, so with 2 years of rental we are saving life time rentals 

P C Rao

[Vamsi Krishna]

I thought you can sell anything based on GBM, as per your or some others understanding.

What other great insights can you throw now? First you mentioned cost of construction of whole CH2, which is not relevant. Second, you said cost of construction of commercial is less than residendial. Third, you said you have a rather simplistic way of calculating than I. Fourth now...

I suggest you propose your views directly to owners which ever view you have. And excuse me.

My last response on this. 

On Thu, 9 Feb, 2023, 15:47 Pallepati C Rao, <palle...@gmail.com> wrote:

Market Value is calculated for something we can trade or Sell. Technically the market value is Zero as we can’t sell the club house.

Not even by GBM

P C Rao

[srinu Perumalla]

Hi PC Rao,

2BHK flat 1115sft includes 30% common area - Slab area will be 780 Sft. 

Pujari's 750 Sft is slab area which is equal to  1080 sft as saleable area. 

Regards,

Peru

On Thu, Feb 9, 2023 at 2:06 PM Pallepati C Rao <palle...@gmail.com> wrote:

Vamsi

2 BHK flat in MHV is minimum 1115 Sq Ft

The Pujari’s flat is around 750 you can check the plan for exact price.

Our flats have undivided share and pujari accommodation will be a property of MHVWA

Here the buyer will get all rights, but Pujari  will just stay as long as he is with our temple.

As a layman I feel the calculation is misguided 

P C Rao

On Thu, 9 Feb 2023 at 1:11 PM Vamsi Krishna <vamsi.kri...@gmail.com> wrote:

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