Urbanrise Paradise On Earth Maintenance Charges
Urbanrise Paradise on Earth maintenance charges are fees that residents pay to maintain the society's common areas, such as the swimming pool, lobby, and parks. Every resident is mandatorily responsible for these charges.
Urbanrise Paradise on Earth, developed by Urbanrise Group, is a premium residential villa project in Gangasandra, Kanakapura Road, South Bangalore. Spread over 24 acres, the project offers 220 villas in 4 BHK dimensions. It will be completed in December 2027. It is surrounded by greenery, and more than 80 percent of the area is allotted for open spaces.
The project offers world-class amenities for every age group. Maintenance charges are taken to maintain these amenities and provide an up-to-date society. The builder takes these charges in advance at the time of purchasing the villa. After the possession, the HOA decides and takes the maintenance amount. The RERA Act compulsorily sets these charges.
The charges are taken for many things. Some of the important details of the Urbanrise Paradise on Earth maintenance charges are:
- Upkeep of the property — It is taken for managing the roads, paying security, and outer infrastructure in the project. These fees are given to the workers who maintain and repair the property and kept in the property fund.
- Collection of fees by HOA — A homeowners' association collects charges from tenants to maintain the society. The association makes a certain budget for maintenance, which is collected on a fixed date. These members ensure that all the areas are well maintained.
- Allocation of charges — Individuals or property owners contribute to maintenance expenses based on certain factors, such as the size of the property, the number of residents, or regulations established by the HOA.
- Payment period - HOA fixes a payment time or date. All the residents have to pay this amount on the fixed date.
The method of calculation of maintenance charges
- Per square feet - This method is used when houses have varied sizes. The total sq. ft of the house decides the maintenance fee.If the committee sets a rate of Rs 4 per sq. ft. and the villa measures 600 sq. ft. area, the resident has to pay Rs 2400.
- Equal fees — This method works best when all houses are similar in size. The total maintenance charge for the month is combined and then distributed among all residents, ensuring fairness for everyone.
- Hybrid fees — In this method, owners must pay a set fee, and additional fees are based on the size of their property. This is considered the most better way to calculate these fees.
