Prestige Park Ridge Maintenance Charges

Prestige Park Ridge Maintenance Charges are taken in advance and set at Rs. 72 to 75/ sq. ft. for a year. These are going to be set at Rs. 5 to 8/sq. ft. monthly after possession. These are taken to upkeep the common areas of the township, including the clubhouse, parks, roads, etc.

The maintenance charges are taken by every resident to maintain the township's amenities. This is set as per the apartments' built size and is affordable and set as per the RERA Guideline. These are affordable and suit the buyer's budget.

Prestige Park Ridge is a grand residential township located off Bannerghatta Road, South Bangalore. This is set on 26.2 acres and has 1, 2, and 3 BHK condos in various sizes. The site has over 40 amenities, large roads, and many things for which a nominal maintenance fee will be taken.

The Prestige Park Ridge Advance Maintenance charges for each apartment during the booking are as follows:

Apartment Maintenance Charges

The maintenance charges for each unit are set at Rs. 5/sq. ft. monthly after possession.

Maintenance Charges Overview

The maintenance charges include all the costs needed for the day-to-day upkeep, repairs, and smooth functioning of a residential community.

They cover many services and facilities that help the community run smoothly, including:

• Regular upkeep of common areas like gardens, lobbies, and corridors
• Security services for the entire complex
• Daily cleaning and sanitation work
• Water and electricity are used in shared spaces
• Lift servicing and repairs
• Pest control measures
• Gardening and landscaping work
• Maintenance of shared amenities such as the gym, swimming pool, and community hall

What Are the RERA Rules For Maintenance Charges?

RERA rules in India ensure full transparency, meaning everything is clear. These rules also ensure the builder does not profit from maintenance money and that these funds are handled correctly. Builders must clearly show all costs, which usually set from Rs. 2 to Rs. 25 per sq ft.

They must also explain exactly how this money will be used before they hand the project over to the buyers. All maintenance funds must be kept in a separate bank account. Builders are allowed to collect 12–24 months of advance charges.

What are the Criteria for Charging Maintenance?

Once the homes are handed over (possession is given), the responsibility must shift to the Residents’ Welfare Association (RWA). The RWA will then decide the final charges. Clear billing is always required. GST is added if the monthly maintenance fee for a single flat is above Rs. 7,500.

Is there any GST on Prestige Park Ridge Maintenance Charges?

Yes, GST is charged on maintenance fees in the township under two conditions:

• First, when the monthly charge for one flat is more than Rs. 7,500.
• Second, when the society’s total yearly income from services goes over Rs. 20 lakhs.

However, affordable housing projects do not have to pay GST on maintenance charges. This applies to projects that offer basic facilities and have smaller homes.

How are maintenance charges calculated in the township?

• Per Sq. Ft.: This method is considered fair because bigger flats pay more and smaller flats pay less. It is commonly used in places that follow RERA rules.
• Equal Sharing: In this method, every resident pays the same amount, no matter the flat size. It can be used only if most residents agree.
• Hybrid: This method mixes both systems. Some services (like lift charges) are shared equally, while others (like common area maintenance) are charged per square foot.

Prestige Park Ridge Highlights