Factors Influencing the Maintenance Charges of Apartments in Calicut

Apartments dominate the real estate market trends in Calicut, as more families prefer the convenience offered by compact homes, especially for nuclear families. Flats offer more security, convenience of centralized management, community living, and a luxurious lifestyle not easily possible when you have detached homes. 

One of the best things about apartment living is that you don’t have to worry about cleaning and maintenance of the exteriors. You only have to pay the maintenance charges of apartments, and everything is taken care of.

You must consider all the relevant factors before buying an apartment, however, and finances are a major factor. The cost of owning an apartment includes the stamp duty and registration fees, brokerage, cost of decorating your apartment, and interest payable on your home loan if you avail one. You also have to consider the maintenance charges as a recurring expense.

What are Maintenance Charges of an Apartment?

Maintenance charges of apartments refer to the monthly payment every flat owner needs to make to the residents’ association or society in lieu of services availed, cleaning and maintenance of common areas, and other services provided centrally to all the flats. Electricity and water charges, costs of repairs, and so on are also part of this. The total cost is estimated for a year, and is divided by 12. The monthly charges are divided by the number of apartments in a building, and this amount is the one payable by each owner.

What Are the Expenses That Determine the Maintenance Charges?

There are a number of expenses that make up the maintenance charges of apartments. They include wages, cost of consumables, AMCs (for equipment), parts replaced if any, cost of utilities, like electricity used for elevators, water pump, lighting in lifts, lobbies, reception areas, clubhouse, and the grounds, and so on. Let us take a detailed look at these expenses.

Use of Common Facilities and Amenities

Apartments in Calicut today have a number of amenities that make life comfortable and convenient. While these amenities may vary from building to building, there are some common ones found everywhere.

• Multiple high-speed elevators; the cost of electricity consumed for this, and maintenance costs of servicing them. 
• Round-the-clock power backup cost of batteries, servicing the inverter, and so on
• Lighting in common areas as mentioned above.
• Cost of installing and maintaining equipment in the gym, clubhouse, sauna, games room, A/V room, etc., and the electricity required to operate these facilities.
• Cost of installing and maintaining security equipment like electronic barriers for vehicles, CCTV cameras, biometric systems, video door phones, and so on
• Water charges paid to the water authority
• Property tax paid on the land
• Materials required for cleaning, like floor cleaner, glass cleaner, wipes, tissues, mops, etc; cost of items consumed for repairs and maintenance work, including cement, tiles, cables, wires, parts and components, light fixtures, garden equipment, garden consumables like potting soil, planters, plants, grass, etc.
• Cost of installing and maintaining a water pump, pressure pump, taps in common areas, repairing or replacing them, and so on.
• Cost of composting, maintaining the compost pit, and so on.
• Cost of installing and maintaining the intercom system for easy communication with the security cabin and among residents.
• Cost of purchasing and maintaining the computer required to maintain all details, financial and otherwise, of the building and its residents.
• Cost of installing, calibrating, and replacing fire-fighting equipment, like blankets, hoses, and so on.

Payment of Wages and Salaries

• Salaries paid to security guards, association managers, IT service personnel, etc.
• Wages for cleaning and maintenance staff like plumbers, electricians, gardeners, sweepers, etc.
• Salaries paid to appointed instructors and coaches for coaching residents on a sport or activity like yoga, Zumba, tai chi etc
• Corporation waste collection fees
• Auditors’ fees as the association accounts have to audited

What Factors Decide the Maintenance Cost?

Location

The location is one of the biggest factors that go into determining the regular maintenance costs. This is because some cities are more expensive than the others, and you may need to pay higher wages there. Even within cities, specific areas may have differing wages. So the wages you have to pay to the various employees of the building is a major factor. If the building is located in a place where wages and salaries are high, you can expect the maintenance charges to be high as well.

Number and Quality of Amenities

This is another important factor. The number of amenities, type of amenities, and the quality of those amenities can impact the maintenance charges to be paid. The higher the quality of the essential amenities, the more sophisticated they are, and the more amenities there are, the higher will be the maintenance charges levied.

For example, if you have a proper swimming pool with a kiddie pool attached, it has to be serviced, the water filtered, the pool cleared of leaves and any other debris, and so on. Same with a gym. When there is a big gym with all the necessary equipment like treadmill, cycling machine, rowing machine, bench press, weights, barbells, and kettlebells, there is a lot more stuff to clean and maintain. This means higher cost, and higher maintenance charges.

But if it’s a swimming pool and gym just put in there for name’s sake, the cost of maintenance will also be less. It also means that you will not really enjoy the use of these facilities, but still pay something for them.

Many buildings now provide facilities like EV charging stations, sauna, steam room, spa, and so on, which cost a pretty packet to install and maintain.

Landscaped gardens with a children’s play area that has a lot of play equipment: this also needs a lot of care and maintenance. 

Conclusion

Paying maintenance charges for apartments is a very small price to pay for the mental peace of not having to do everything yourself, and the satisfaction in the knowledge that the premises are well cared for. At PVS Builders, we provide the best facilities and amenities to residents without overburdening them financially. Come check out our RERA approved flats in the best localities of Calicut.