September 2026

Where we stand

Running Palm Court costs about ₹31.6 L a month. Maintenance brings in ₹19.2 L. Interest covers some of the rest. The reserves cover the remainder. These pages show the numbers, what the Managing Committee is doing, and what happens next.

Shortfall this year

₹70–90 L

We spend about ₹31.6 L a month and collect ₹19.2 L in maintenance. Interest and other income add ₹6.4 L. The rest comes from the reserves, before any savings from the tenders.

Spend per month

₹31.6 L

Apr 26–Aug 26 average, everything included

Maintenance per month

₹19.2 L

₹57.6 L billed each quarter

Reserves

₹9.33 Cr

fixed deposits plus the balance with Sobha

Cash in the bank, end Aug 26

₹5.9 L

about 1 week of spending

1 lakh = ₹1,00,000. 1 crore = 100 lakh. Reserves (the corpus) are the money owners paid at handover, kept in fixed deposits for big repairs.

In six sentences

Last year the association spent ₹48 lakh more than it collected. The difference came from the reserves. The General Body was not asked.
This year is running the same way. Apr 26 to Aug 26: ₹1.58 Cr spent, against ₹96.1 L of maintenance for those months.
The reserves are about ₹9.33 Cr. That money is for big repairs in the years ahead. Its interest is already being spent on running costs.
A resident Sub-Committee reviewed last year's accounts. Their questions have gone to the previous Managing Committee and to the auditor. The answers will be published here.
A Special General Body Meeting on Sunday, 18 October will decide the budget and the maintenance rate. The notice goes out this week. The 1 October bill stays at the current rate; only the General Body can change it.
Until then the gap is met from the reserves. The amount drawn is published here every month.

What happens next

18 Sep

Meeting notice to every owner, with the Sub-Committee's report and other supporting documents, the resolutions, and how to vote.

21 Sep

Written responses due from the previous Managing Committee, requested for each point the Sub-Committee raised. Published as received.

1 Oct

Q3 maintenance bill, at the current rate. Please pay by the due date.

Before 18 Oct

Full meeting pack: the responses, the audited accounts, the budget, tabled alongside the Sub-Committee's report.

Sun, 18 Oct

Special General Body Meeting. One flat, one vote. Proxies and e-mail votes allowed.

Nov

If a new rate is approved from 1 October, the difference for October–December is billed in November.

Read on

Where the money goesEvery expense, month by month Try the optionsFive ways to fund the year; see which ones close the gap Our reserves₹11.76 crore at handover, ₹9.33 Cr today — where it is and what it earns What you told usThe August survey and what is being done about it

Updated 15 September 2026. Accounts to end Aug 26; deposits as at 7 September 2026; survey August 2026. Published by the Managing Committee. Questions: spcaoa@gmail.com