📊 Radiance Royale Financial Summary

🔍 Ensuring Transparency & Accountability: External Audit Initiated

In response to numerous requests from our community over the past two years, we, the EXCOM, have fulfilled our commitment by appointing an independent external auditor to conduct a comprehensive audit of Radiance Royale’s financial accounts from 2020-21.

We are pleased to introduce Ms. Godavari, a highly experienced auditor who also oversees financial audits for Sobha Apartment, our neighboring community.

To facilitate a seamless review, we have granted her MyGate auditor access, and the audit process is now underway. The final audit report is expected within 2-3 months, and we assure you that we will share the findings with complete transparency as soon as it is available.

We appreciate your trust and support in maintaining financial integrity within our community.

💰 February’s Contribution, Shaping a Better Tomorrow – One-Time Collection Update

In January, we collectively decided to address our financial challenges through a one-time maintenance collection instead of increasing regular maintenance charges. This initiative was necessary to fund critical infrastructure improvements, including:

💰 Key Financial Challenges:

• 🔧 Grundfos Motor Upgrade
• 💧 STP Revamp
• 🏢 Association Registration
• 📉 Low Bank Balance

In February, we successfully collected a one-time maintenance charge of ₹1.45 per sq. ft., totaling nearly ₹3.5 lakhs.

We have already initiated some of the planned works and aim to complete them over the next two months. Below is the current status as of March 18, 2025:

🔧 Grundfos Motor Upgrade (₹1-1.5 Lakhs Estimated)

• One of the pneumatic pressure pumps is beyond repair. We have placed an order with Grundfos for a new pump.
• Vendor quotations were received, and we are finalizing an authorized motor vendor. Installation is expected before the next financial report.

💧 STP Revamp (₹1-1.5 Lakhs Estimated)

• We are in discussions to restart UF filtration work and are negotiating the best offer before placing the order.
• Once completed, this will reduce the outflow of treated water, improving efficiency and cost savings.

🏢 Association Registration (₹65,000 Estimated)

• The major blocker for completing the registration process is the external audit, which is currently in progress.
• Once the audit report is finalized, we will resume the registration process.
• The cost includes external audit fees, government charges, and yearly compliance expenses.

⚖️ IT Demand Notice – ₹4.7 Lakhs (Under Review)

• We recently received an Income Tax (IT) Demand Notice of ₹4.7 lakhs, which was neither budgeted nor estimated earlier.
• Our external auditor is working on rectified filings, and we plan to challenge this demand.
• Depending on the outcome, the amount may be reduced. We will update the community once we receive further clarification from the IT Department.

⚡ Transformer Maintenance (Expected Cost: ₹1-2 Lakhs)

• Maintenance of four transformers is essential, as their current condition is not sustainable for long-term use.
• We have started assessments, obtained vendor quotations, and are in discussions with the Electricity Board (EB) department for possible support.
• While the exact cost is yet to be determined, preliminary estimates suggest an expected expense of ₹1-2 lakhs, depending on the required repairs and approvals.

We appreciate your continued support and cooperation in ensuring the smooth financial management of our community. We will keep you posted on further developments.

🌿 Renew, Refresh, Radiate – Community Initiatives

As we continue our journey toward a cleaner, healthier, and more vibrant community, we are excited to share key initiatives that are enhancing Radiance Royale:

✨ Reclaiming the Shine – Deep Cleaning After Years

• For the first time in many years, our basement underwent a deep jet wash, restoring freshness with specialized equipment.
• This long-overdue effort ensures a cleaner, safer, and more hygienic environment for all.

🗑️ A Cleaner Tomorrow – Tackling External Waste

• With the support of the BDO, we have initiated outside garbage clearance efforts.
• We are working with police, EDO and other authorities for a sustainable cleaning solution to prevent future littering.

🥬 Farm Fresh for Community Wellness

• To promote healthy living, we have introduced a free-of-cost initiative allowing a small vendor to sell farm-fresh spinach and a variety of leafy greens within the community.
• Freshness at your doorstep, for a healthier you!

💡 A New Glow for Radiance Royale – LED Landmark

• The A Block terrace now shines anew with a brand-new Radiance Royale LED light, installed with the help of Radiance Developers.
• This not only enhances the aesthetic appeal but also serves as a landmark, benefiting both our community and the builders.

Each of these efforts brings us closer to a cleaner, greener, and more welcoming home. Thank you for your continued support in making Radiance Royale a place of pride!