Purva Northern Lights Corpus Fund: A Simple Guide

When you buy a home in one of the new pre launch projects in north bangalore, you will see a lot of different charges on the cost sheet. One of the most important ones is the Purva Northern Lights Corpus Fund. It sounds complicated, but it is actually very simple. Think of it as a "long-term savings account" for your building.

Purva Northern Lights is a massive 25-acre project in the KIADB Aerospace Park. It has over 2,600 homes and huge amenities like a 1-lakh sq. ft. clubhouse. Keeping a place this big looking brand new for 20 or 30 years costs a lot of money. The Corpus Fund is the money set aside right now to pay for those big future costs. This guide explains what you are paying for and why it is a smart idea.

What Exactly is the Corpus Fund?

The Corpus Fund (sometimes called a Sinking Fund) is a one-time payment. You usually pay it when you are about to get the keys to your new home. Unlike your monthly maintenance bill, which pays for the security guard or the daily cleaning, the Corpus Fund is not touched for daily expenses.

Instead, this money is put into a bank account that earns interest. It sits there and grows. It is only used when the society needs to spend a large amount of money on something major. For ultra luxury apartments in north bangalore, this ensures that the quality of life remains high forever.

Why Do You Need to Pay This?

You might ask, "Why should I pay for repairs that won't happen for 10 years?" Here is why it matters:

• No Sudden Shocks: Imagine if the lift breaks down in 2035 and needs to be replaced. If there is no Corpus Fund, every family would have to suddenly pay ₹50,000 or ₹1 Lakh instantly. With the fund, the money is already there.
• Higher Resale Value: When you sell your flat, the buyer will ask about the building's funds. If the society has a healthy Corpus Fund, the buyer knows the building is safe. This lets you ask for a better price.
• Interest Income: Since the money is kept in a fixed deposit, it earns interest every year. Often, this interest is enough to pay for smaller upgrades without asking residents for more money.

How is the Amount Decided?

The amount you pay for the Purva Northern Lights Corpus Fund depends on the size of your home. It is usually a fixed rate multiplied by your apartment's square footage. This is fair because a person with a large 4 BHK owns a bigger share of the land than someone with a 2 BHK.

• The Math: If the rate is ₹100 per sq. ft. (just an example), and you have a 1,500 sq. ft. home, you pay ₹1,50,000.
• When to Pay: You pay this only once. You do not pay this every year.

Applicable Units

This rule applies to all the unit types in the project:

• 2 BHK Luxury Apartment: 1,010 – 1,220 sq. ft.
• 3 BHK Luxury Apartment: 1,500 – 1,800 sq. ft.
• 4 BHK Luxury Apartment: 2,100 – 2,400 sq. ft.

Corpus Fund vs. Monthly Maintenance: The Difference

It is easy to mix these two up. Here is the easiest way to tell them apart.

Where Will This Money Be Used?

Living in pre launch projects in north bangalore means you have access to world-class facilities. But things wear out over time. The Corpus Fund is strictly for "Capital Expenses"—which means buying new assets or fixing big structures.

• Repainting the Towers: Painting 8 high-rise towers is a huge job. The fund pays for this every 5-7 years.
• Clubhouse Renovations: After a decade, the gym equipment might need replacing or the pool tiles might need fixing.
• Roads and Pipes: If the internal roads need re-laying or the main water pipes burst, this fund covers the cost.
• Green Tech: In the future, the society might want to install bigger solar panels or EV charging stations. This fund provides the capital.

Is My Money Safe?

Yes. When you buy from a reputed builder like the Puravankara Group, the process is transparent.

• Builder Holds it First: Initially, the builder collects the money and keeps it safe.
• Handover: Once enough people move in, you will form a Homeowners Association (HOA). At this point, the builder transfers the entire Corpus Fund (plus any interest earned) to the Association's bank account.
• Residents Decide: After the handover, you and your neighbors decide how to spend this money. It cannot be spent without a vote from the residents.

Why This is Good for Investors

If you are an investor looking at ultra luxury apartments in north bangalore, the Corpus Fund is a great selling point.

• Transferable Asset: You don't get a refund when you sell. Instead, you tell the new buyer, "I have already paid the long-term repair fund." This adds value to your property.
• Peace of Mind: It guarantees that the property won't look old and run-down in a few years, ensuring your rental income stays high.