Prestige Evergreen Maintenance Charge

Each apartment owner pays the Prestige Evergreen Maintenance Charges to maintain the shared areas and amenities in the community. These charges ensure that the common spaces remain clean and functional throughout the ownership period.

At Prestige Evergreen, the builder collects an advance charge of ₹70 per sq.ft for the first year. Once the owners’ association is formed, the charges are expected to be in the range of ₹5 to ₹8 per sq.ft per month, making it affordable and fairly distributed among all property owners.

Major factors to know to understand the Maintenance Charges:

• Maintaining Shared Areas: The collected money as a maintenance charge is used to maintain the common areas and shared facilities in the project, including lifts, corridors, parking lots, gardens, gyms, amenities, and security.
• How Costs Are Divided: The maintenance charges are collected by house owners based on several major factors. It is, in general, calculated on the basis of the size of the apartment units and the number of residents in a home. The homeowner's organization (HOA) determines the rules and maintains the project.
• Role of the Homeowners Association (HOA): The Homeowner's Association is established in a community to keep a safe and healthy community. The members of the associations will be in charge of planning a budget and charges and are responsible for maintaining the project's common areas and amenities.
• Creating a Spending Plan: The Homeowners Association in an apartment community creates a planned annual budget to utilize the maintenance fees in a productive way. It includes the expenses for repairs, gardening, security, events, and other required services. Homeowners will receive completed data on the breakdown of these charges.