What is maximum penalty in cooperative housing society for late payment?
i am a member of my society, i failed to pay a annual maintenance charge of society from last six months. our society passes a rule that if member is not paid there AMC of last 2 month, then give him a penalty charge of 10% per month for late payment of AMC
sir i want to know that society management can pass a rule of 10% (so much high) per month as a penalty?
one of our member is comed for to pay a total dues of his AMC including last month
then the penalty should be make on before 2 month or he should pay a penalty in including last month also?
Related to housing society bye-laws