Living in luxury apartment; pay high maintenance charges
A luxury apartment is a sign of swanky lifestyle. To own such apartment, one has to shell out massive amount. The story does not stops here, you will have to pay high maintenance fee for all the facilities provided in the apartment more of a norm.
Such cases are seen in Mumbai and Gurgaon where many owners of premium apartments are paying more than 1 lakh as maintenance charges. For instance, maintenance charges at The Imperial, a residential project in south Mumbai, is Rs 1.5 lakh a month for a 10,000 sq ft apartment. It is Rs 40,000 for the smallest 2,550 sq ft apartment in the same building (Rs 16 per sq ft). In Gurgaon, owners of high-end properties are paying Rs 7-10 per sq ft for apartments ranging between 4,000 and 5,000 sq ft.
The upcoming residential projects in Mumbai and Gurgaon are setting new standards in luxury. The super rich class is ready to pay astronomical amounts as these projects offer air conditioned apartments, sport facilities like concierge service, large private swimming pools and restaurants. The amenities and location reflects the price of property.
The premium clients of such buildings are politicians, businessmen, diamond merchants, corporate employees, investment bankers, etc. It is found that owners are ready to pay high maintenance charges as it will enhance the life of building along with adding more to resale value.
Many builders charge high based on the maintenance, landscaping and services offered. Maintenance charges at Oberoi Sky Heights in Lokhandwala is Rs 9 per sq ft a month. It is a 36-storey building which offers 65 luxury apartments in two wings. The project is loaded with amenities like clubhouse, gym, squash court and a pool.
Owners of 12,000 sq ft apartments in Oberoi Sky Heights shell out highest monthly maintenance charge of Rs 1.08 lakh. These are triplex apartments which also have private swimming pools on terraces.
The housing societies and developers are now focusing to hire facilities management firms to take care of maintenance aspect of luxury residential projects.
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