The Resident Welfare Associations (RWA) of the respective buildings will use the fund for maintenance and repairing of buildings, including the lifts and generators.
Corpus fund is generated through 2% of the flat price, which the allottee deposits with the LDA at the time of possession.
In this case, Rs 18 crore of the deposited amount has been pending with the LDA for at least eight years as the apartments were handed over between 2010 to 2014.
Only Rs 1.12 crore was released for maintenance of 12 out of 15 apartments last year. Now, after the intervention of LDA vice chairman (VC) Indramani Tripathi, the amount will be given to RWAs.
The directions were issued after VC’s meeting with RWAs representatives on July 28.
“The amount will be given in the form of fixed deposit (FD) in the joint name of RWA and LDA so that LDA can keep the record. Altogether, Rs 18 crore has been allotted to the 15 apartments,” the VC told TOI.
The finance controller has been asked to prepare the proper report and arrange for the transfer of funds, he added.
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