Prestige Raintree Park Maintenance Charge

Prestige Raintree Park Maintenance Charge

Maintenance charges are costs that any buyer who wishes to use the common areas, infrastructure, and community amenities must pay regularly.

Prestige Raintree Park Maintenance Charges are fees for upkeep and management of jointly owned property areas. 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.

Prestige Raintree Park Project Highlights
Type Apartments
Project Stage Prelaunch
Location Whitefield, Bangalore
Builder Prestige Group
Floor Plans 3,3.5,4 & 5 BHK
Price Rs. 2.9 Cr* Onwards
Total Land Area 125 Acres
Total Units 1600 Units
Size Range 2000 - 3800 Sq.Ft
Approvals NA
RERA No Onrequest
Launch Date 2024
Pre-launch Date Onrequest
Completion Date 5 years from launch
Possession Date 2028 Mid

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.

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