Payment Notice 01-04-09


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Payment Notice dated 01.04.09 to the members of IRS (Mumbai) Housing Cooperative Society to make payment by 30.04.2009

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Payment Notice 01-04-09

  1. 1. 1 IRS (MUMBAI) HOUSING CO-OPERATIVE SOCIETY, MUMBAI. Notice of Payments The General Body Meeting of the Housing Society was held on 26th 1. February, 2009 and approved the building and floor plans of its project in Sector 21 of Ulwe Node, Navi Mumbai. Thereafter, members were requested to make payment of Rs. 5.50 lakhs as per following schedule:_ Rs.3,00,000/- to be paid by 15th March, 2009 i) Rs.2,50,000/- to be paid by 27th March, 2009 ii) 2. However, several members have expressed certain personal problems and have requested for some more time for making payments. Executive Committee of the Society deliberated on the issue and has taken following decisions in respect of further payments to be made by members. The members who have not made payments and/or made part payment as per above schedule can make payments as per the terms given below; It is mandatory to pay at least Rs. 3.00 lakhs out of Rs. 5.50 lakhs (a) demanded vide payment notice dt.27/2/2009, before 30th April, 2009 for retaining membership of the Society. The members who do not pay the same will cease to be the members of the Housing Society . The amount remaining unpaid on 31st march 2009 will attract a nominal (b) interest @ 12% per annum from 1st April 2009 onwards. However, the demanded amount of Rs.5.50 lakh should be paid not later than 31 st. May,09 with interest of 12% per annum. The interest is levied for the late payment so that members who have paid on time are not put in the disadvantageous position for their prompt payments. Those members who make full payment of Rs. 5.50 lakhs, in addition to (c) Rs.1.10 lakh already paid, by 30th April’09 will be considered for allotment of flat as per the position on 30th April. Those who are not able to make full payment of Rs. 5.50 lakhs by 30th April will be considered in subsequent allotment(s). Please note that early payments carry some incentives.
  2. 2. 2 Members are requested to make prompt payment so that allotment of flat will be carried out by end of April or beginning of May’09. This process of flat allotment will facilitate to have individual purchase agreement of the members with the builder which is mandatory for obtaining early group financing from Banks for which negotiation is on. As per the MOU with the Builder, members are required to make payment after this installment directly to the builder and the society will not collect money from the Members. Kindly make your payments in favour of “IRS (Mumbai) Housing Co-operative Society”. Payments should be made by demand drafts and cheques payable at Mumbai at par. The contact details & options of members are given in Members-Details.xls uploaded on The same may be viewed and checked for correctness and updates required may kindly be emailed at or can be sent by SMS at 09892107893. The photographs of the “Bhoomi Poojan” ceremony held on 27.03.2009 are available in the presentation uploaded on the same web address. (D. S. BENUPANI) Secretary Dated: 1st of April 2009 Place : Mumbai