Can builder deduct money from Maintenace Fund collected from buyers in the name of running the society before handing over?

Subject: Inquiry Regarding Deduction from Maintenance Fund by Builders Pre-Handing Over of Society I am writing to seek clarification on a crucial matter regarding the handling of the Maintenance Fund that builders collect from buyers in a residential project, specifically concerning whether a builder can deduct money from this fund for operational expenses before officially handing over the society to residents. Context As a concerned buyer in one of the completed projects, it has been informed to us by new formed society committee that builder will retain a portion of the Maintenance Fund to cover various costs associated with running the society during the period between project completion and actual handover. (almost 2 years) Understanding the legal standing on this matter is important for us as buyers, as it directly impacts our financial contributions and the management of community resources. Specific Questions 1. Legality of Deduction: Is it permissible under RERA regulations for builders to deduct funds from the Maintenance Fund for managing the society's operations before the formal handover? 2. Transparency and Accountability: What measures are in place to ensure transparency in how the Maintenance Fund is utilized during this transitional phase? Are builders required to provide detailed accounts of expenditures? 3. Obligations After Completion: What are the obligations of the builder regarding the Maintenance Fund once the project reaches completion? Is there a timeline for the handover, and what documentation should be provided to buyers? 4. Buyers’ Rights: In the event that we have concerns about deductions made from the Maintenance Fund, what recourse do we have as buyers? How can we ensure that our rights are protected in this situation? 5. Best Practices: Can you provide any guidelines or best practices for buyers to follow when dealing with Maintenance Funds and communications with builders during this pre-handover phase? Thank you for addressing these concerns, as clarity on these points will be invaluable in understanding our rights and responsibilities as buyers. I appreciate your attention to this matter and look forward to your insightful response.