Prestige Rock Cliff Maintenance Charges

Maintenance charges are fees paid by the residents of a township to upkeep the common areas. The fees are paid monthly or annually, depending on the structure. This fee is taken for common areas like swimming pools, parks and lobbies. It is a mandatory fee paid by residents and tenants.

Highlights of Prestige Rock Cliff

Prestige Rock Cliff maintenance charges are fees collected by the society HOA to maintain the common areas. These areas are used by the entire society and the cost of cleaning and repairing is given by the residents. The maintenance charges are taken as per the size of the property. The maintenance charges of the project will be Rs 4 to 6/ sq. ft.

Prestige Rock Cliff is a pre-launch residential apartment project developing in Banjara Hills, Hyderabad. It is being built on an area of 6 acres and has a huge open space. The township offers 3 & 4 BHK units with a starting price of 6 Cr. The project will launch in April 2024 and is awaiting RERA approval.

The Prestige Rock Cliff maintenance charges will be taken by the builder in advance at the time of booking. Later these charges will be taken by the HOA of the society. These charges are to be paid as set by the RERA Act. Some of the key details of the charges are:

1. To upkeep the property - The maintenance charges are taken to upkeep the roads, parks and lobbies. The fees are also taken for security and maintaining the exterior of the site.
2. Collection of fees by HOA - HOA or homeowners' association collects charges from residents for maintaining the society. The association makes a budget for the maintenance. The members collect a certain amount on a fixed date.
3. Transparency - The HOA has to be transparent while using the funds. The upkeeping fees are kept in the property fund. When and where the funds are used has to be shown in the township meetings.
4. Allocation of charges - The residents pay the charges based on certain factors. These factors are the size of the property, the number of people in a flat and or rules set by the HOA.
5. Payment time - A fixed time is set for giving the maintenance charges. These charges can be paid monthly or yearly. An amount shall be paid by the residents to the HOA.

The maintenance charge can be calculated in 3 ways.

• Fees as per square feet basis
• Equal Fees
• Hybrid fees

The sample Prestige Rock Cliff maintenance charge invoice is given below:

Prestige Rock Cliff maintenance charges are important for maintaining the common areas of the site. They ensure that common spaces remain clean, functional, and aesthetically pleasing for all residents. Residents must know why maintenance charges are needed and how they are used. They should also join in making decisions to keep their living environment nice.