Your dream house demands care to sustain over a longer time. For this, you need to spend certain amount on its maintenance. When purchasing an item that requires upkeep, consumers should consider not just the initial price tag, but also the ongoing maintenance expenses. Now the question is, how much does this expense amount to and what does it include?

Soham Dutta asks on the real estate Forum on Magicbricks, “Are maintenance charges hidden? How would I know about a transparent deal?”

Defining maintenance cost

Maintenance charge is the cost borne for the upkeep of the house which extends its liveability quotient. It is the cost incurred to keep the property in a good condition and in working order.

Just like any other asset, the value of a house also depreciates over time. The maintenance of your house helps to balance the depreciation value according to the market rate. If everything in a house is well maintained– in terms of fittings and furnishings – it can fetch a good amount when selling it.

The maintenance charges of an apartment depend on the kind of project you are investing in. For a project with basic amenities like car parking and lifts, the developer will not charge you a large amount.

According to Shyam Vijay Singh, from VEL Murugan Pvt Ltd, Chennai, “The maintenance cost of a basic apartment would not be more than Rs 1,500-2,000 per month and varies according to the number of amenities provided along with the apartment.” There are no customised deals for the consumers to pay off these charges. It is mandatory for home-buyers to pay the maintenance charges. Making use of these services is a choice that rests with consumers.

What constitutes maintenance cost?

With increased number of services or amenities being offered, the maintenance cost of an apartment might also rise. It includes cleaning/maintenance of the common areas such as parks, swings, lifts, power back-up, staff salaries, etc. The cost is usually measured in per sq ft.

Maintenance cost is charged under the corpus fund created by the builder, which is meant exclusively for collecting the maintenance charges. However, it may vary from developer to developer. “The Sale Agreement does not include this but we share the cost transparently with the buyer in the initial stages itself,” says Kumar Bharat, director, BCC Infrastructures Pvt Ltd, New Delhi.

Does locality have a role in determining the cost?

Locality plays a vital role in deciding the property rates and maintenance charges. The cost entirely depends on the society and the kind of amenities that are offered to the consumers. It is charged on the basis of built-up area.

“The maintenance cost of properties in an established area will tend to be higher than in a developing locality in the neighbourhood,” says Arun Dsouza, Shine Property Management Services. For example, areas like Mira Road will have cheaper maintenance rates than Panvel in Mumbai. In Delhi/NCR, Noida Extension has higher maintenance charges in comparison to Noida or Delhi. Gurgaon is more costly as compared to other NCR areas, so the maintenance charges are also higher. Premium localities such as DLF Phase-V and Nirvana Courtyard will be expensive in terms of maintenance than properties on Sohna Road.

Consumers should compare the facilities being offered by developers and the maintenance costs being levied. Owning a home includes various repairing and maintenance in the future and which decides your home value. Therefore, don’t just consider the project affordability but also its maintenance cost. Opt for projects which offer amenities that you will use. After all, why should you pay for services that you will not use?

Sukriti Yaduwanshi,