If you are planning to construct home for own and rental purpose of building (ground + 2 stories) in a place like Electronic city, Bangalore.

1. Cost of Plot/ Site

Land cost (1200 Sqft x Rs. 2600 = 32.12 Lakhs) say 32 Lakhs including registration and Panchyat Approval for construction. The cost of the site varies from place to place and type of Khatha and Papers, other amenities like a gated community, etc.

2. Supplementary works a. Borewell & connected works will cost you around 2-2.5 Lakhs depends on the depth of bore well (1000- 1100 ft. depth suggested in the electronic city).

b. Temporary power for construction purposes will cost you (including BESCOM office expense) around 30,000, Monthly bill separate.

3. Construction/ Design. Three important factors will influence the total cost of construction

a. Design (Architectural & Structural detailing)

b.Materials selection.

c. Type of Contract

a. Design – Architectural & Structural detailing will have a great influence on the total budget if your architect or structural consultant considers your budget & work with economical design at the very initial stage may help to save lots of money.

b. Material selection – if you choose materials carefully understanding the need & purpose you will save lots of money (e.g. Search for locally available material rather brings from far distance & pay transportation).

eg. Use side stone masonry for the foundation of you can get size stone from a nearby quarry.

c. Construction – there is 3 type’s contract commonly works in Bangalore

1. Labour contract

2. Turnkey contract

3. Item rate contract.

a. Labour contract – if you got time to the source material and manage time to time, it is idle to choose labor contract, current labor contract rate is 27000 per chadura (100 Sqft), don’t try to negotiate too much, labor component if you pay you can demand for quality workmanship.

b. Turnkey contract – if you don’t have time & you live in a remote area then it is idle to go with the turnkey job, but you must be very careful when choosing your contractor, before deciding the contractor visit any of the completed or ongoing projects get convinced with the quality of works executed and materials used.

Many of them use their own specification, but I would suggest every home is unique and purpose, therefore you write down your requirements as for customized quote based on the floor plan and requirement. The turnkey contract normally charges on basis of per Sqft, with the very basic finish and fixtures that will cost around 1500/Sqft which includes.

1. Frames structure (with M20 Concrete, Fe500 Steel)

2. Solid concrete wall masonry (6 for external & 4” wall for internal).

3. Internal & external plastering with lime Neeru finish.

4. Vitrified tile flooring for the floor (Basic cost of tile 65/ Sqft).

5. Sal wood for windows and door frames.

6. Flush door for internal & teak (Guna teak) for the main door.

7. Internal painting with Asian tractor emulsion & external with Asian Ace.

8. Parking tiles/ or Concrete IPS flooring.

9. Water Proofing in wet areas like terrace & bathrooms (Dr. Fixit).

10. Bathroom fitting and Fixtures from Hind ware/ Paryware.

11. Electrical fixtures from ROMA,

12. External & internal pipes, Ashirwad CPVC for water supply line & Supreme for drain & soil lines.

Say if you building a built-up area of 2400sqft (G+2) (excluding the open area for setback)

A. The cost of construction will be (2400 sqft x 1500 = 36 Lakh).

B. Cost of External Developments like Sump, External drain, Compound wall, gate &rainwater harvesting, etc. it will on the actual basis agreed by your & contractor. For 30x40sites to facilitate these works will cost around 3 lakh.

C. Fit-out or interior – Interior cost you approximately per unit around 25. Lakh, if you're looking at all 3 units then around 7.5 Lakh.

The total cost of construction including, water & temp power, interior – 52 Lakh.

C. Item rate contract – it will on the basis item summarized by the architect with quantity, the contract will be operated on the basis of the agreed rate by the client and contractor. When it is idle were you not sure about some of the items & you are planning to hand over activities like services or facade to the experts.