Posted by As more people live in apartment complexes, gated communities, and housing societies, managing the affairs of such communities becomes more difficult. Managing inhabitants, money, maintenance, and security may become overwhelming and time-consuming, making it difficult for management to run these communities properly. Fortunately, the development of society management system has made it easier than ever before to manage these tasks, streamline communication, and improve community living in general.
We will look at what society management systems are, why they are significant, and what features they provide in this article. We will also look at the many types of social management systems and the elements to consider while selecting one, and rates of GST on flat purchase in India.
Benefits of a Society Management Systems
Society management systems come with many benefits, some of which are as follows:
- Increased Efficiency and Productivity
Various community management tasks can be simplified and automated using society management systems, saving time and increasing efficiency. Sending emails or SMS warnings to all inhabitants at once, for example, scheduling maintenance or generating bills and tracking payments
- Improved Communication
One of the most important benefits of social management systems is that they provide a platform for improved communication between residents and the administration. This increases transparency and accountability while decreasing the likelihood of conflict.
- Enhanced Security
Security is an important component of community life, and security management systems can assist with security management. Some of the features of society’s management systems that improve security include access control, visitor management, and security personnel management.
- Better Financial Management
Society Management Systems provide a foundation for effective community financial management. These systems can be used to generate bills, track payments, and manage spending.
- Simplified Maintenance and Repairs
Society Management Systems provide a platform for managing community maintenance and repairs. This includes scheduling maintenance, creating work orders, and tracking the status of repairs.
Features of a Society Management System
The features offered by a Society Management System can vary depending on the vendor, but here are some of the most common:
- Maintenance Management: Maintenance management is an important component of community living, and Society Management Systems provide a platform for it to be managed. Maintenance management services include scheduling maintenance, creating work orders, and maintaining maintenance records.
- Security Management: Security is an important part of community living, and society management systems include features that aid in its administration. Security management includes functions such as access control, visitor management, and security personnel management.
- Accounting and Billing: Society Management Systems can also help with communal financial management. Accounting and billing include functions such as creating bills, tracking payments, and managing spending.
- Communication Management: Communication is crucial in a community living setting, and society management systems can help with this. Communication management includes elements such as a notice board, email and SMS notifications, and resident directories.
- Record Keeping and Document Management: Documents and records connected to community living can be managed with the help of society management systems. Record keeping and document management include capabilities such as document storage and retrieval, meeting minutes management, and compliance management.
Various Types of Society Management System
There are several types of social management systems available on the market, which are as follows:
- Web-Based Systems: These systems are accessed through a web browser and can be used on any device with an internet connection.
- Mobile Applications: These are social management systems that can be downloaded as applications on mobile devices.
- Integrated Systems: These are society management systems that can be integrated with other community management systems like security cameras, biometric access control systems, and payment gateways.
Choosing the Right Society Management System
Choosing the right social management system can be a challenging task. Some of the factors you should consider when choosing a social management system are:
- Cost: The cost of the Society Management System varies according to the provider and the services provided. You should select a system that meets your budget and delivers good value for money.
- Ease of Use: The Society Management System should be easy to use and navigate, even for those who are not tech-savvy.
- Customizability: The system should allow for customization based on your community’s needs and requirements.
- Support: Ensure that the vendor provides good customer support and has a good track record of addressing customer issues.
- Integration: If you are already using other community management systems, it is essential to choose a society management system that can integrate with them seamlessly.
GST on flat purchases in India
Goods and Services Tax (GST) is applicable on the purchase of under-construction flats in India, and it is levied at a rate of 5%. The 5% rate includes both CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) or IGST (Integrated Goods and Services Tax) if the flat is purchased from a developer in another state. However, GST is not applicable to the purchase of ready-to-move-in or resale flats. Buyers of under-construction flats are eligible for the Input Tax Credit (ITC), which can be used to offset future GST liabilities. The implementation of GST has brought about standardization and transparency in the real estate sector, making it easier for buyers and developers to comply with tax regulations.