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What should be ideal maintenance cost taken by builder

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What should be ideal maintenance cost taken by builder

Last updated: July 8 2014
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  • What should be ideal maintenance cost taken by builder

    I checked in Ivy Estates, where they are taking maintenance cost as Rs. 4.5 per sqft per month, for 2 years. The whole amount needs to be paid at the time of possession. Is this rate on higher side? They said this is because Umang Pride (where I am interested) is of only 2 buildings so less people to contribute. Still I think 4.5 is too much. What do you think?
    (When I checked with others, e.g Kumar Pebble Park(hadapsar), the cost is 2.5 per sqft per month. and a Dreams offers first year free maintenance and 3.5 rs per sqft then onwards)
  • #2

    #2

    Re : What should be ideal maintenance cost taken by builder

    Well, first of all - there's nothing ideal - and in RE absolutely nothing.
    Whatever he should charge as per us (you and me) won't change the amount he's asking now.
    If you want to book there, you'll have to pay whatever he asks for.

    Again, I live in a society where we are paying Rs. 5 psqft as maintenance, so 4.5 is not high and considering that this will be the price after 2 years that sounds ok.

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    • #3

      #3

      Re : What should be ideal maintenance cost taken by builder

      4.5 is too damn much! A 1000sqft 2bhk will have to pay 4.5k per month!

      Also, if your monthly maintenance goes above 5k, then the owner has to pay a service tax on that amount. Keep that in mind as well.

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      • #4

        #4

        Re : What should be ideal maintenance cost taken by builder

        Ideally, builder should not charge anything for maintenance. As per MOFA, he should form a society within 4 months from the date of completion & let the flat owners decide on maintenance.
        Builder's work is to construct the flats & leave, & not keep asking for pocket money every month from buyers.

        This is like you buy some clothes & take the clothes to the same store for laundry.
        If you are happy, you are successful.

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        • #5

          #5

          Re : What should be ideal maintenance cost taken by builder

          Originally posted by realacres View Post
          Ideally, builder should not charge anything for maintenance. As per MOFA, he should form a society within 4 months from the date of completion & let the flat owners decide on maintenance.
          Builder's work is to construct the flats & leave, & not keep asking for pocket money every month from buyers.

          This is like you buy some clothes & take the clothes to the same store for laundry.
          I completely agree with you but it's an IDEAL situation. Nowadays, builders look at their projects as lifetime income opportunity for their coming generations. Many builders don't sale some flats and rent them out. Many builders never sell few shops and always get good rent which serves the monthly cost of running their offices.
          It's the same reason that why almost all the builders are interested in township projects. Look at the agreement of any township and you'll find a clause that builder will 'maintain' it for at least 15 years from the date of completion of the project (not start of projects, as townships in pune take years to complete). Even after that period, builder will find a "competent body" for this job - which will be his subsidiary (child) company.

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          • #6

            #6

            Re : What should be ideal maintenance cost taken by builder

            Thanks everyone for you feedback!

            Again, I live in a society where we are paying Rs. 5 psqft as maintenance
            Hi investwest, may I please know in which society are they charging Rs. 5 ?

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            • #7

              #7

              Re : What should be ideal maintenance cost taken by builder

              Originally posted by omkar21 View Post
              Thanks everyone for you feedback!

              Hi investwest, may I please know in which society are they charging Rs. 5 ?
              Haha, I don't wish to publicly announce my address but check out for few high end societies and you'll get to know that these are the costs of so called luxury life.
              Because of such a high maintenance (for a 3bhk of 1650 sqft approx, we pay approx 9K per month as society maintenance, apart from this there's gas bill at non subsidized rates which comes around 2-2.5k per month and 3 phase electricity charges come around 2.5-3.5k per month, again to live in such a place you'll have to pay extra for car cleaner and maids as well) I asked my family if they'd like to stay somewhere else, may be in a descent row house but everyone refused my proposal .

              There's no builder now, our body maintains it but added costs than other societies are - we have electrician, plumber, carpenter and so on people on monthly pay rolls (they come only on weekends), then we have society manager and accountant on monthly pay rolls, we also have an auditor with hefty annual fee and them comes to security, electricity, cleaning etc. Lastly. not to forget to mention, host of amenities builder provided but are very costly in maintenance.

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              • #8

                #8

                Re : What should be ideal maintenance cost taken by builder

                investwest, sorry I did not form the question rightly. But your answer was what actually I wanted. I mean yours might be a high end society where Rs. 5 is justifiable, and I do not know whether Ivy estate, wagholi is comparable to it, when maintenance cost of 4.5 is considered.
                Thanks for your reply. And it gives an idea of what all things usually societies have to take care of. :-)

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