This society is charging only Rs.3 per SFT. Someone had mentioned it as Rs.3.50 per SFT and arrived at a fancied thought of Rs.7.60 Cr swindled…
Based on Rs.3.50 per sft per month the society collecting since inception, for the total of 4.34 Lakh Sft, Rs. 1.82 Crores per annum is being collected. If there is delay in payment, you are charging 2% per month as interest. So the total collection can be , more, not less. As I practically see, living in the society since 2012, at any given time, this society had employed about 14 security guards, 14 house keeping personnel, 4 maintenance related personnel, 1 accounting person, 1 manager. It is estimated, they all together cost the society about Rs.15000 x 33 = Rs.4.95 Lakh per month. Excess amount collected in water charges, alone is enough to make good this expenses.
Approximate maintenance collected by the society at Rs.3.50 per sft is as follows:-
Block-1 total 10 floors (2 to 11 floors) x 26 flats, 1 floor (1st floor) x 20 flats total 280 flats.
Block-2 total 6 floors x 12 = 72 flats.
Square feet area and maintenance collection assessment (Block-II):
Block-2 – 24 cornet flats of 750 sft = 24 x 750 = 18,000 sft
Block-2 – 48 middle flats of 700 sft = 48 x 700 = 33,600 sft
Total Block-II area 51,600 @ Rs.3.50 per month
Amount collected every month from block – II is Rs.1,80,600/-.
Square feet area and maintenance collection assessment (Block-I):
Block-1 – 40 cornet flats of 1500 sft = 40 x 1500 = 60000 sft
Block-1 – 40 three side open flats 1625 sft = 40 x 1625 = 65000 sft
Block-1 – 200 middle flats of 1300 sft = 200 x 1300 = 2,60,000 sft
Block-1 convenience store – 2000 sft x 1 = 2000 sft.
Total Block-I area 3,82,000 @ Rs.3.50 per month
Amount collected every month from block – I is Rs.13,37,000/-.
Total Maintenance collected per month is … Rs.15,17,600/-.
Total Maintenance collected per year is … Rs.1.82 Crores.
For 5 years since 2013, till 2017, total collection is Rs.9.10 Crores.
Ceebros handed over corpus fund, as per my knowledge was Rs.3 Crores
Total expected funds without interest collection is Rs.12.10 Crores.
I hope the society has wisely invested in long term deposits with best interest rates (8% p.a?) the entire funds. The expected interest accumulation is;
For 3 crores for 5 years at 8% p.a. = Rs.1.20 Crores
For 9 crores subsequent collections, averaged for 2.5 years at 8% p.a. = Rs.1.80 crores
Total interest collection from bank out of deposits is Rs.3 Crores.
Total expected funds with bank interest accumulation is Rs.15.10 Crores.
Funds appearing as per latest balance sheet is Rs.7.50 crores.
Please understand, capital expenditure like rebuilding collapsed compound wall was forcefully collected from residents. Unexpected expenses like December 2015 floods, 3 days Generator running was forcefully collected from residents.
So, except routine expenses, such as payment of salary to house keeping, security, maintenance, account staff, even if liberally estimated at 15k per head (actual house keep salary is 6.3k, security salary is 9k, as I verified with them), per month expenses is Rs.4.95 Lakh only. This is met with excess of water charges collected and paid, Rs.5 Lakh per month. Presently miscellaneous income in conducting events is not considered.
I was forced to resign from committee because, in 2014 itself, I found, residents are charged, for cooking gas at commercial rates, but vendor was being paid at domestic rates. I also found, income out of sale of car entry boomers, door access cards were not accounted. When I offered to assist in accounts, I was assigned a task, ‘to analyse viability of opening hair cutting saloon in our society’.
I am not accusing all office bearers or all committee members, present or past. I suspect, few individuals had carefully manipulated and created system intentionally to benefit themselves in the past and they are directing from behind screen so that attention is diverted towards bookspace, green initiative, garbage segregation, etc. Innocent ladies and kids are exploited in a make believe arrangement. 85% of residents, being tenants, are, in the direct verbal utterances of ex-president ‘not have right to speak’.
As per government record as appear in internet, only 7 people are shown as members of this society. No confirmation as to whether, accounts are submitted to registrar of society regularly. A society of 352 residents contributing Rs.1.82 crores per annum is much larger than an average village in India. In 2014 itself, when I was in committee, the person organising garbage segregation, took Rs.2 Lakh advance towards expenses (like printing posters).
Presently the society secretary is a senior chartered accountant. Last year, coming to know of his purchase of my adjoining flat, I made a welcome phone talk. I made oral observation about pathetic management of society. Suddenly he had become Secretary with cheque signing powers. And, despite sharing a common wall, being a next door, he avoids me. Its OK. I hope this able senior chartered accountant, having become secretary of this society is able to answer my charges of corruption that I value presently at Rs.7.60 crores swindled out of Rs.15.10 Crores over a period of 5 years.
As I am excluded in posting rights, in apartmentadda, I have necessity to post this information at www.ceebrosboulevard.com which some residents claim, as ‘washing dirty linens in public’. It was not my intention. But what is the alternative? If a reasonable response not found, I will be forced to approach economic offences wing of city police and registrar of society for legal action. Thank you!
Sad and shameless, see, people are not able to post in apartmentadda and yet, people are expected to interact only through this. Continuing proof that crooks are manipulating without revealing identity.
Thanks for admitting ‘dirty linen’. When dirty linen starts stinking too much, it can no more be buried under the carpet. Take it out and wash… Once 50 members who are present residents enrolled, we will have this site as ‘member only’. Unlike in systematically manipulated ‘apartmentadda’, we will not delete or restrict the users. We will answer everyone including bitter critics.
Akila Ganesh 1008, Bharathi Hariharan 517, Rani Edward 119, Sangeetha Sridhar 425, Ragini Raj 1026 – You have lent your name and sent a handout to me. It ends with ‘if clarification needed, feel free to contact’ and your names list.
We need clarifications on behalf of several residents:
- In 2014 when corruption charges were leveled by a committee member, this Green Initiative was introduced as an attention divert by then President, who, at that time took, Rs.2 Lakh, association money to create and propagate this green initiative. Can you 5 ladies let us know, how that money was spent? and After that, how much money, spent so far in this initiative?
- Men using condoms, Ladies using Sanitary Napkins are best disposed without seen by kids and others. This is called decency. Our old Ramayanam says, washerwomen suspected fidelity of Goddess Sita and it resulted in Lord Ram sending her away (according to you there is no place ‘away’) to forest when pregnant. Don’t you read from our own history? Why read from ‘Annie Leonard’ a foreigner as if Indians are fools?
- So, you are showing us a space. Don’t you think, it is time for you to work together, support the initiative of our Hon’ble Prime Minister, take real big initiative, to get rid of corruption in our society? Why don’t you answer here, in public forum or at ceebros.blogspot.in or at www.ceebrosboulevard.com/old/ and why don’t you raise voice in apartmentadda that suppresses and delete dissent and decent contents?
- Instead of wasting your time, on propelled and fancied thoughts, why don’t you all contribute properly in maintenance of proper accounts and probity of common funds.
- You find time to do all these things, but no time to set right the broken compound wall even after 1 full year, and what is the sin and fault of owners allotted car park there, there not allowed to park ?
Some people claiming to save the planet had made use of security and housekeeping staff to distribute some leaflets in the guise of green initiative. Can the people who believe in garbage segregation in old style, (less expense, more convenient, decent, support activity for house keeping and segregating staff) be allowed to distribute their side views?
When serious corruption charges were leveled before 3 years, To divert attention, this nonsense of green initiative was invented. Jobless ladies and innocent kids are brain washed as if they are saving the planet. Contribute your thoughts, if at all anyone daring, at ceebros.blogspot.in
Mahalaya Amavasya – Any Prohit/Aiyar coming home visit ? If anybody have contact details, kindly share Please!