What is the use of giving fund to the Co-operative Housing Society?

Q: I am residing in an apartment in Hyderabad. Few days back I was asked to give some funds (Sinking Fund) to my respective Co-operative Housing Society. Someone let me know why they are collecting this kind of fund?

Shiva Kuchibhottlla, Hyderabad

9th November 2011

Other in Hyderabad

sinking fund

co-operative housing society

Follow Discussion

Also see discussions for

Hyderabad Other Other in Hyderabad

Replies (1)

Co-operative Housing Society collects the Sinking Fund for the development of the apartment. The fund amount is decided by the General Body of the society. They use this fund for reconstruction, repair, and structural addition to the apartment. This fund is collected for the benefit of the apartment members.