Prestige Evergreen maintenance charges are currently estimated at ₹5 to ₹8 per sq. ft. These charges are paid by homeowners every month to maintain the project’s shared spaces and services. They cover the upkeep of amenities such as the clubhouse, swimming pool, landscaped gardens, security systems, elevators, and regular cleaning of common areas. This ensures a clean, safe, and well-managed living environment for all residents.
The builder initially collects a one-time advance maintenance charge of ₹70 per sq.ft for the first year to cover common services during the handover period. After that, the Homeowners Association (HOA) takes over, managing monthly maintenance based on actual expenses. 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.
- These charges also include essential services like electricity for shared areas, water supply, waste collection, power backup, and housekeeping. For example, periodic building maintenance may cost around ₹3,500 annually, while waste collection and water supply can range between ₹200–₹500 per month, depending on the flat size.
- 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.
- The HOA also maintains a reserve fund and an emergency repair fund to handle unforeseen expenses like plumbing leaks, elevator repairs, or electrical issues in shared spaces. This ensures that community living remains smooth without sudden financial stress.
- 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.
- Every year, the HOA reviews maintenance costs and adjusts them based on actual expenditure. Residents receive prior notice about any changes and can share their feedback during community meetings before the new budget is finalized.
- By paying regular maintenance charges, residents contribute to preserving property value and ensuring a high-quality lifestyle at Prestige Evergreen. These fees help maintain safety, cleanliness, and functionality across all common areas of the community.
