Bye-Law 47
Bye-Law 47 mandates the collection and maintenance of a Repair Fund in Maharashtra housing co-operative societies, separate from the Sinking Fund, for routine maintenance and repair of common areas.
What is Bye-Law 47?
Bye-Law 47 requires Maharashtra co-operative housing societies to collect a Repair & Maintenance Fund contribution monthly. The minimum rate is typically 0.75% of the construction cost per flat per annum under current Model Bye-Laws.
This fund covers day-to-day common-area maintenance — lift maintenance, pump servicing, plumbing, minor electrical work — without requiring a General Body resolution for each expense.
Why it matters
Bye-Law 47 fund discipline ensures the committee has resources for urgent repairs without depleting general funds or issuing special levies. It is the financial buffer between regular income and maintenance obligations.
Auditors verify Repair Fund balance and utilization in Form J. Chronic under-collection or misuse for non-maintenance expenses is an audit deficiency.
Legal & regulatory context
Like Bye-Law 46, Bye-Law 47 derives from the MCS Act 1960 and Model Bye-Laws. Both funds together ensure societies maintain adequate reserves as required by Maharashtra cooperative law.
Withdrawals from Repair Fund must be documented with vouchers and approved by the managing committee — not the General Body, unlike Sinking Fund withdrawals.
How SocietyBee handles it
SocietyBee maintains Repair Fund as a separate ledger head, auto-posts monthly contributions from bill collections, and generates a Repair Fund utilization report for committee review and audit.
Try SocietyBee free →Frequently asked questions
What is the minimum Repair Fund rate under Bye-Law 47?
The Model Bye-Laws prescribe 0.75% of construction cost per flat per annum. Societies can collect more but not less.
Can Repair Fund be used for new construction?
No. Repair Fund is only for repairs and maintenance of existing structures and assets. New construction requires a separate special levy or loan.