How do I calculate maintenance cost for an apartment?

Per square feet method is the most used method for calculating maintenance charges for housing societies. According to this method, a fixed rate is charged per square feet of the area of an apartment. For instance, the rate per square feet maintenance charge for an apartment complex is Rs. 3.0 per sq feet per month.

How is maintenance charge calculated for apartments in Chennai?

Per sqft charge Per sq, ft method is extensively used for the calculation of the maintenance charges for the societies. On the basis of this method, a fixed rate is levied per sq ft of the area of the flat. If the rate is 3 per sq ft and you have a flat of 1000 sq ft then you will be charged INR 30000 per month.

How is building maintenance cost calculated?

The total cost for the month is divided by the overall area of the property which gives the per sq ft rate for maintenance for the month. This is multiplied by the unit area of each home to arrive at individual contribution towards the maintenance for the month.

What is the maintenance charges per flat?

In India, real estate developers charge anywhere between Rs 2 to Rs 25 per square foot (psf) as maintenance charge.

What all is included in maintenance charges?

Going as per the dictionary meaning, maintenance fees means an annual fee to be paid by the owners/ tenants for the maintenance, repair, operations, and upkeep of the building.

What happens if you don’t pay apartment maintenance?

If a resident has not paid his maintenance due till the decided due date, you may give a written notification of 12 days extra to make the payment, and then a grace period of 3 days. An interest of 12\% per annum may be charged on the default amount from the due date to the payment date.

What is the maintenance cost of a flat in India?

The maintenance charges are set depending on the per sq.ft. rate and hence differ depending on the area of a flat. For instance- if the maintenance cost is Rs 2 per sq ft for a 1000 sq ft apartment, the monthly charge will stand at Rs 2000, and 3000 for a 1500 sq ft.

How is the maintenance fee calculated for an apartment?

As per the system, all the apartment owners are entitled to pay equal maintenance fee, regardless of the size of the flat. Apartment of same size sq.ft. follow this method. According to this method, society or association charges flat rate for a limited square feet and every additional unit will be charged for extra.

How to calculate maintenance charges in a housing society?

Below are few methods of calculating maintenance charges. They are as follows: Per Square Feet Charge: Per square feet method is the most used method for calculating maintenance charges for housing societies. According to this method, a fixed rate is charged per square feet of the area of an apartment.

Is maintenance cost calculated based on plinth or flat rate?

As per the TN Apartment Ownership Act, maintenance costs should be calculated based on the plinth area of each flat where as here it is fixed as flat rate. Is this correct? It will take another five months for me to shift to the new flat so is it mandatory to pay the maintenance cost during this period?