Pricing and charges
Maintenance deposit
Advance maintenance collected at possession, often for 12 to 24 months, to run common services until the association takes over.
Also called: advance maintenance
Developers collect advance maintenance at possession to pay for security, housekeeping, lifts and common power until the residents' association takes charge. It is usually calculated per sq ft per month for a fixed period.
Example: ₹4 per sq ft per month on 1,000 sq ft saleable area for 24 months = ₹96,000. GST on maintenance services is generally charged at 18%. Confirm the applicable treatment with your adviser.
Show maintenance clearly in the cost sheet as a possession-stage charge. Buyers who discover it only at handover feel ambushed.
Related terms
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