If you want to know
what are CAM charges
, let me highlight that Common Area Maintenance (CAM) charges are fees collected from property owners or tenants in residential complexes to cover the upkeep and maintenance of shared areas. The specific amount of CAM charges can vary based on factors like the size of the property, the number of units, and the amenities offered. I have shared the information below.
What are CAM Expenses?
In India, these charges typically encompass expenses related to:
Costs for cleaning, landscaping, and regular upkeep of common facilities such as lobbies, parks, and pathways.
Charges for electricity and water supply for common areas, including lighting and pool maintenance.
Expenses for hiring security personnel to ensure the safety of residents and property.
Funds allocated for unexpected repairs or enhancements to communal amenities, ensuring they remain functional and appealing.
Generally, for residential property, CAM charges lie between Rs 2 to Rs 10 per square foot. For commercial property, CAM charges lie between Rs 10 to Rs 25 per square foot. I hope now you have a clear idea about what does CAM charges mean.
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When I first started living independently in my flat in Ahinsa Vihar apartment, I wasn’t sure what were common area maintenance charges. I was new to all these things as I had spent most of my time in independent flats in Delhi. I asked my neighbour to clarify my doubts on common area maintenance charges. I can tell you what they explained to me.
Pay utility bills, rent, and more and win assured rewards with NoBroker What are common area maintenance charges?The common area maintenance charges are the charges which you pay for maintenance and upkeep of the common area. Common area includes:
Lawns
Parking lot
Lobbies
Corridors
Elevators
Stairs, etc.
If you are wondering how are common area maintenance charges calculated then I would say you should take a look at this:
Maintenance charges |
Application |
For repair and maintenance of the building |
0.75% per annum of the construction cost of each flat |
Service charges |
Equally divided among the flats |
Repair and maintenance of elevators |
Equally divided among the flats |
Sinking fund |
Minimum of 0.25% per annum of the construction cost of each flat |
Non-occupancy charges |
For flats which are rented, calculated at 10% of service charges |
Parking charges |
Based on number of parking slots of each member |
I hope this clarifies your doubts around
common area maintenance charges. If it did, give this comment a thumbs up na :P
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Authors Of The Question
What are common area maintenance charges?
Jithin
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2 Answers
2 Year
2022-03-16T10:37:11+00:00 2022-03-16T10:48:31+00:00Comment
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