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.
| 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.
