When you are out buying an apartment you must know there are multiple things involved. You have to pay for the stamp duty, registration charges and maintenance charges as well. But what are maintenance charges on flats? What are flat maintenance charges law? If you are struggling to find out these two prominent things then don’t worry you’ve landed just at the right place. I am answering these two for you.
What are apartment maintenance charges?Apartment maintenance charges or flat maintenance charges are the charges which have to be paid to the builder or the housing association for the upkeep and maintenance of the building and common area of the housing apartment. The charges levied under this head are used for basic maintenance and repairs. The area included for the maintenance include swimming pools, staircases, elevators, lobbies, fire escapes, common entrances and exits, basements, terraces, parks, play areas, water tanks, and much more.
What is flat maintenance charges law in India?The Real Estate Regulation and Development Act or RERA states that those who enter into a sale agreement to take possession of an apartment, plot or building must make the necessary payment within stipulated time and they must pay registration charges, municipal taxes, water and electricity charges, maintenance charges, ground rent and other charges.
The calculation of the maintenance charges is based on the size of the flat and per sq ft rate as set by the builder or RWA. The rates in India vary between Rs. 2 and Rs. 25 per sq ft. So if you own an apartment in a housing society of 30 members in an area of 12000 sq ft then each member shall be paying Rs. 800 as maintenance charges if the maintenance rates are Rs. 2 per sq ft.
I hope now you are clear on what is maintenance charge on a flat, flat maintenance charges law and calculation of maintenance charges.
Read here: Is GST applicable on maintenance charges collected by builder What is GST on the maintenance charges paid by the residents of a housing society
What is maintenance charge on a flat?
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2021-09-23T11:35:37+00:00 2021-09-24T10:25:00+00:00Comment
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