MAINTENANCE AGREEMENT BETWEEN BUILDER AND BUYER
This Agreement is made on 1 April 2026 at Panchkula
BETWEEN
ABC Developers Private Limited, of SCO 10, Sector 17, Chandigarh (the "Builder"),
AND
Aarav Sharma, of House No. 211, Sector 21, Panchkula (the "Buyer").
- 1. The Buyer owns Flat No. 304, Tower B, 1,050 sq ft carpet area in the Builder's project Green Park Heights. Until the residents' association takes over, the Builder will look after the common services of the project on the terms below.
- 2. The services covered by the maintenance charge are:
Lift operation, water supply and pumps, sweeping and cleaning of common areas, security, common lighting, generator backup for common areas, garden upkeep.
- 3. The Buyer shall pay a maintenance charge of ₹3,500 (Rupees Three Thousand Five Hundred only), payable monthly, by the 10th of the month. The charge shall be spent only on the services in clause 2 and shall reflect their actual cost.
- 4. If a payment is late, the Buyer shall pay interest at a simple interest rate agreed in writing by both sides, after the Builder has given a written reminder.
- 5. The Buyer has paid a security deposit or corpus fund of ₹25,000 (Rupees Twenty Five Thousand only). The Builder shall keep it in a separate account, use it only as the agreement for sale and the law allow, and hand the balance to the residents' association when it takes over.
- 6. The Builder shall keep proper accounts of what is collected and spent and shall let the Buyer, or the residents on request, see them. The charge may be revised only after written notice to the Buyer and on the basis of the actual cost of the services.
- 7. Within 3 months of the residents' association being formed, the Builder shall hand over the management of the common services, the accounts, the unspent deposits and the project documents to it, as the real estate law and the apartment law require. This Agreement ends on that handover.
- 8. Nothing in this Agreement reduces the Builder's duties under the agreement for sale and the law, including repair of defects. Any dispute may be taken to the courts at S.A.S. Nagar (Mohali) or to the Real Estate Regulatory Authority, as the law allows.
Signed by the parties on the date written above.
Signature: ______________________________
BUILDER: ABC Developers Private Limited
Signature: ______________________________
BUYER: Aarav Sharma
Witness 1: ______________________________ Name and address: ______________________________
Witness 2: ______________________________ Name and address: ______________________________