Prestige Raintree Park Maintenance Charge
The maintenance charge of Prestige Raintree Park is Rs. 72 per sq. ft, which is collected in advance for 1 year. After possession, the homeowner’s association which may range from Rs. 5 to Rs. 6 per sq. ft.
Prestige Raintree Park Maintenance Charge is Rs. 72 per sq. ft. The builder collects this advance maintenance fee from buyers for 1 year. Once the property is purchased, the homeowners' association must determine the monthly maintenance fees ranging from Rs. 5 to Rs. 6 per sq. ft to ensure the entire community remains in good condition and operates smoothly.
Maintenance charges are costs that any buyer who wishes to use the common areas, infrastructure, and community amenities must pay regularly. They will be collected from each landowner. At Prestige Raintree Park, the maintenance fees are kept modest. All property owners share in these costs, which go into effect once they acquire the properties.
Other Charges of Prestige Raintree Park consist of the following -
- BESCOM Charges @ 75/- psf
- BWSSB Charges @ 75/- psf
- Khatha Assessment & Bifurcation Charges @ 25,000/- per apartment
- Generator Charges @ 70/- psf
- Advance CAM for 12 months @ 72/- psf
Prestige Raintree Park Maintenance Charges are fees for upkeep and management of jointly owned property areas.
| Type | Apartments |
|---|---|
| Project Stage | Prelaunch |
| Location | Whitefield, Bangalore |
| Builder | Prestige Group |
| Floor Plans | 3,3.5,4 & 5 BHK |
| Price | Rs. 2.59 Cr* Onwards |
| Total Land Area | 125 Acres |
| Total Units | 1520 Units |
| Size Range | 2004 - 3698 Sq.Ft |
| Approvals | RERA |
| RERA No | PR/270824/00698 |
| Launch Date | August 2024 |
| Pre-launch Date | 29-August-2024 |
| Completion Date | 5 years from launch |
| Possession Date | Dec 2028 |
Sample Invoice of maintenance charges in Prestige Raintree Park apartments:
| Periodic Building Maintenance | 3500 |
| Common Area Utilisation/Parling | 1000 |
| Sinking Fund | 450 |
| Common area Electricity bill | 1200 |
| Garbage collection charges | 200 |
| Power Backup | 500 |
| Water Charges for Common area | 550 |
| Housekeeping | 500 |
| Total | 7,900 |
Factors to consider to understand the Property Maintenance Charges:
- Maintaining Shared Areas : Many maintenance charges are used to look after common areas and shared facilities. These include corridors, elevators, entrances, parking areas, swimming pools, gyms, and security services.
- How Costs Are Divided : Individuals or property owners contribute their share of the maintenance charges depending on several factors. Maintenance charges are collected based on the property size, the number of residents, or the rules established by the homeowners' association (HOA).
- Role of the Homeowners Association (HOA) : Maintenance charges are collected by a Homeowner's association (HOA) or a condominium group. These groups are responsible for creating annual budgets, planning maintenance activities, and ensuring the upkeep of shared spaces
- Creating a Spending Plan : The Homeowners Association or apartment complex creates an annual budget that itemizes how maintenance fees will be spent. It includes expenses for repairs, landscaping, insurance, utilities, and other necessary services. Property owners typically receive a comprehensive breakdown of these costs
Paying maintenance charges ensures the upkeep of Prestige Raintree Park's common areas and amenities. When calculating these charges, numerous factors gathered by homeowners' associations (HOAs) or condo associations are considered.
