Prestige Oakville Maintenance Charges

Prestige Oakville Maintenance charge is expected to be around ₹4 to ₹6 per sq. ft per month initially (final amount to be confirmed at possession). After the handover, the Owners’ Association will take over from the builder and decide the final monthly charges, expected to be around ₹4 per sq. ft. The charge is based on various aspects, such as locality, quality of amenities, covered area, etc. The charge has been kept to a minimum as compared to the market price. Compared to similar upcoming projects in Bangalore, Prestige Oakville has proposed competitive and reasonable maintenance charges. These charges cover the upkeep of shared spaces, security, and amenities within Prestige Oakville.

Prestige Oakville Maintenance Charge is the amount paid by the buyers as residential property homeowners. Such charges are common across upcoming flats in Bangalore and are essential for maintaining shared facilities. It is charged for the maintenance of the property. The homeowners of this residential area have to pay this amount for the preservation of the common area and facilities.

The following are the different features of the property maintenance expenses in the Prestige Oakville residential complex:

• Services such as electricity, water for common areas, security, and so on.
• Individual water charges are based on the usage by each apartment.
• Residents have to pay parking zone rent if they are utilizing it.
• All tenants must pay for lift repair and maintenance if there is any.
• Need to pay for sinking funds for any emergency caused by unprecedented events.
• Other fees include election funds, group festival celebrations, non-agricultural tax, etc.

Prestige Oakille Maintenance Charge is based on the floor area of the unit. Buyers can pay the amount in monthly installments or the total amount yearly. Here are the usual methods used to determine the maintenance charge:

Per Square Feet: It is a common technique used to figure out the cost of upkeep for societies. Based on this, a certain amount is charged per sq. ft of the flat. If the cost is ₹4 per sq. ft, and the apartment is 1000 sq. ft, the monthly payment will be ₹4,000.

Equal Maintenance: This method is used when the sizes are the same and cannot be distinguished. The total amount is collected monthly and divided by the number of residences.

The Hybrid Maintenance Charge: It is a mix of the previous two methods. All residents pay the same amount for the shared facilities.

Prestige Oakville Maintenance Charges are payments that must be made on time. Non-payment of charges can lead to penalties as per the Association by-laws. In exchange for the charges, the maintenance staff will maintain security, telephone lines, power, and water supplies. Each homeowner must pay the maintenance costs.