AMOUNT OF MAINTENANCE Clause Samples

AMOUNT OF MAINTENANCE. CHARGES IS AN ESTIMATE ONLY The figure of Maintenance Expenses provided in the Agreement is only an estimate and this approximate figure is not a commitment. The said amount is subject to inflation increases as per market factors (currently estimated @7.5 to 10 % per annum). The Unit Owners will be liable to pay the actual Maintenance Charges that will be worked out by the Maintenance In Charge at the end of the year. Audited accounts will be furnished by the Promoter. It is very pertinent to note that the Promoter shall always Endeavour at the additional cost to allotees to adopt ways and means to minimize the cost of maintenance by ensuring that the entire lighting of the common areas is effected by solar power; auto irrigation of the landscaped area; adopting access control and implementing CC TV ; sensor based boundary wall with boom barriers; Main gate security; Auto-pump and automatic DG facility etc. and all these measures directly resulting in lowering of maintenance cost . All these charges will be provided from Sinking Fund if not provided by the Promoter as part of the Facilities separately and specifically Further, the charges for enjoying facilities and receipts from visitor’s parking will be collected and thereafter credited to the Maintenance Account to further reduce the incidence of cost and make it self-sustainable. Facility Usage Charges will be decided in such a way that all the costs of services will be recovered from the users based on number of persons using the facilities. Further expenditure of a capital nature like Solar panel etc to be expended out of Sinking Fund will also bring about a reduction in the Maintenance Charges. If Unit Owners are not satisfied with the Maintenance Charges and/or the audited accounts they may hire the services of a reputed Auditor and in that case the expense for taking their services will also form part of the Maintenance charges. The Auditor appointed by the Unit Owners can in consultation with the Project Auditors appointed by the Promoter , jointly do a fair audit of the actual charges incurred and if they decide that some expenses can be reduced, the Promoter will abide by such advice. It may however be noted that under any circumstances actual expenses incurred cannot be reduced. In such case reduction in cost can only be effected by withdrawal of some services or agency. The Allottee shall be obliged to pay the Maintenance Charges in advance as per the said estimate. The Facility Manager shall...

AMOUNT OF MAINTENANCE. The figure of Maintenance Expenses provided in the Agreement is only an estimate and this approximate CHARGES IS AN EXTIMATE ONLY figure is not a commitment. The Unit Owners will be liable to pay the actual Maintenance Charges that will be worked out by the Maintenance In Charge at the end of the year. Audited accounts will be furnished by us. If Unit Owners are not satisfied with the Maintenance Charges and/or the audited accounts they may hire the services of a reputed Auditor like big four and in that case the expense for taking their services will also form part of the Maintenance charges. The Auditor appointed by the Unit Owners can in consultation with the Project Auditors appointed by the Promoter , jointly do a fair audit of the Charges and if they decide that some expenses can be reduced, we will abide by such advice. It may however be noted that under any circumstances actual expenses incurred cannot be reduced.