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How much late payment interest can take society & if society is asking advance maintenance for 3 month

30 May 2017 Satish Bhange, mumbai

Dear sir,

Good Day !

Our society is collecting 3 months advance maintenance we fail to pay the maintenance, but we paid after 1 month so society is charging 21 % interest for late payment.
so how much interest we have to pay as per the law if this is ok they can take interest on advance maintenance ?

Society Maintenance Charges

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Comments (2)

  1. Societyhive support
    20 June 2017

    Dear Satish,

    Correct 21%, your society is collecting the right interest as per law.

  2. Sagar Gogawale
    11 April 2019

    Is there any bye law to collect three months advance maintanance?

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