SMS Lake View Owners Association

Painting of B- Block (Exterior & Common Areas (Interiors))

Dear Owners of B- Block,

Subject : Proposal for Painting of B-Block, Budget and Costs sharing

During the Meeting’s of the B-Block Owners which was intimated and conducted
on 9th June, 2022 and subsequently as expressed the same at the AGM held on
18th September, 2022, wherein the same was recognized / acknowledged by the
members. The below points were discussed and ‘Process ahead / Way Forward’
proposals were made.

1. Whether to start the Painting Work for Block B?

In the best interest of the B Block Building, for the Block’s long life and fresh
look, and to have continued good market value, it was proposed that
Painting Work gets started as there is no reason for the delay of the same
as ‘Costs’ will only keep on rising, in case of further delay.

2. What are the Quotes received for the painting works?

Sl.No. Vendor Estimate Quote Remark

1. Asian Paints 35 Lakhs plus Increase of 10% as on date
(as on March, 2022)

2. Nippon Paints 37 Lakhs plus Increase of 10% as on date

(as on March, 2022)

3. Mr.Satyanarayanan, Competitive Rate -

(Builder’s Painter)

3. Sharing of Costs of Painting work?

Total cost of painting is budgeted at INR 38 Lakhs (approx.).

It was proposed that INR 8 Lakhs can been taken from the B Blocks ‘Savings’
and the balance 30 Lakhs to be shared by the Owners of B Block (60
 apartments) equally viz., INR 50,000/- (Fifty Thousand Only) each
apartment owner.

4. Ways in which Owners can pay their share?

It was proposed the Owners can pay their share of INR 50,000/- (Fifty
Thousand Only) in the following ways and we request you to please ‘Tick’
the option that best suits you for the payment and return the same to the
Association Office.
Sl. No. Payment Period Amount to be paid / Please select
(Times) Your Option
1 One Time (Single) Payment INR 50,000 (Single)
2 Split Payment INR 25,000 (2 times)
3 3 months payment INR 16,700*(3 times)
4 4 months payment INR 12,500 (4 times)
5 5 months payment INR 10,000 (5 times)
* Excess amount will be adjusted in the final installment payment.

Please ‘Tick’ any 1 option that suits you and please help to return this
Letter back to the Association Office to proceed further.

5. What are the Preliminary Works to be done before the Painting Works
commences?

Before the painting work begins there are few important works that need
to be done. Below are the works that need to be mandatorily /
compulsorily completed before the start of the painting work:

Sl. No. Work Details

1. Plumbing Works Exterior / Outside Plumbing Works

2. Epoxy Works Inside all Toilet/Restroom’s Floor-Epoxy Works for

leakage arrest

Note :

1. After all funds are collected only “Repainting” work can be started.
 2. We request for the payment on time, then we can start repainting work by
January 2023.

3. Monthly ‘Maintenance Charges (MC)’ and the above payment of ‘Share

for repainting’, both are separate payments.

4. ‘Share of repainting’ Amount to be paid as below:

Cash Cheque Bank Transfer

To be paid Separate cheque for MC as usual transferred to City Union

along with the MC and separate Bank
Monthly MC cheque for ‘Share of ‘Share of Painting’ to be transferred
(Maintenance Repainting” to below Account
Charges)
IndusInd Bank
R S Puram Branch
Acc. No. 100117161653
IFSC INDB0000521

Thanking you,

President
S M S Lake View Owners Association