| Thu Sep 11, 2008 | Total posts : 5 |
|  Topic: Qn regarding Cost Of construction
Hi,
I been taken an estimate from a builder in Chennai regarding our house construction of 1200+1400(1st). He has given a quote of 30.
When I tried using the cost estimator, I saw that the cement and other material costs are way too lower than the prevailing rates. In spite of increasing the commodity rates, I still landed up with 22lacs maximum.
My question is: What is the minimun % of margin these contactors have ? Is 30 a fair quote for this 2600sqft house ?.
Any help will be greatly appreciated.
Thanks,
mbapai |
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| Thu Sep 11, 2008 | Post #1 | George
Join date: Jul 2008 | Hi there,
I had also faced the similar problem and this is what I did.
I asked my contractor to provide me with the stage by stage breakup and the material that he would use in that construction. That way I asked him to justify the cost he is proposing. It is very important that you get him to agree the quantity and quality of the material he would use in the construction otherwise even if he agrees on a lower cost he may use the lower quality material.
Rates may still fluctuate but the material quantity can not. You can also order a detailed cost estimate if the contractor tells you that the cost is more due to the certain aspects of your home plan.
Contractors have no limit for the margins they charge. We just have to understand that he should provide us the details. Even for the 22 Lac that you have arrived the contractor would get the material from the market on a discounted rate so there is a lot of scope for bargaining.
Hope it helps.
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| Fri Sep 12, 2008 | Post #2 | S L Gupta (Civil Engg)
Join date: Mar 2008 |  Post subject: Detailed Cost Estimation
The rates provided in the cost estimator is based on P.W.D, C.P.W.D and other government departments. However fluctuation in the rates is very high in the market. The rates also differ from area to area and city to city. So it is advised that you take specification from the contractor for the work to be executed and check the rates and estimate accordingly.
The profit of the contractor generally calculated 10% of the cost of work done.
However, if you want more detail then you should take the detail estimate from any civil engineer for calculating the accurate quantity of the material stage wise required for the work according to the plan prepared by the architect.
Once you understand the material requirement then you can check the rates from your local vendors and see how your contractor is charging. Generally people have no idea about the consumption of material and the contractors take benefit of that. I can also supply the detailed estimates as per the tariff below.
Up to 2000. Sq. feet area = Rs.1.50 per sq. feet.
From 2001 to 5000.Sq. feet area= Rs.1.25 per sq. feet.
From 5001 to 10000.Sq. feet area= Rs.1.00 per sq. feet.
Above 10000. Sq. feet area = Rs.0.75 per Sq. feet.
I had provided similar estimates before as you can see at the link below.
http://www.gharexpert.com/ques_ans/Ans_To_ques.aspx?QID=571&CatID=
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| Tue Sep 16, 2008 | Post #3 | Ashwin Pai
Join date: May 2008 | Thanks a lot Guptaji for your suggestion. I will try to cross check the detailed estimates he gives with you. | | |
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| Tue Jan 20, 2009 | Post #4 | buba
Join date: Jan 2009 | Post subject: Adding a floor to existing structure
I own a small house , built up area is around 1200 sq ft.all on ground floor. A external staircase is provided to access the terrace . Now I want to add two rooms of 12 x 14 and 10 x 18 with a common bathroom of size 8x6 on first floor. Built up area on first floor works out to be 600 sq ft.
Now how much it will cost me? Assuming all standard material and finishes.
My contacter is saying it will cost around Rs 550 per sq ft that is around 3.5 lakh. Is it Okay?
Regards
Buba
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| Wed Jan 21, 2009 | Post #5 | S L Gupta (Civil Engg)
Join date: Mar 2008 | Post subject: Use free cost estimator or send the plan
Dear Mr. Buba
You have two options to find the cost of construction. You can use our free on line cost estimator which will give you rough idea about the cost. But if you want exact estimate you should send the plan of your purposed house at first floor. With the help of drawing we will be able to give you detailed cost estimate which will be very helpful to you. This option will cost you Rs.900/- only.
Thanks
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