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Cost to build a house in India in 2023?

How much does it cost to build home in India

Building a home is a significant investment, and it is essential to have a clear understanding of the cost involved before embarking on the project. This blog will give an overview of the various factors that determine the cost of building a house in India. By understanding the average cost per square foot in different regions, the total square footage of the planned home and other costimpacting factors, you can develop a realistic budget for your dream home.

The construction cost in India can vary significantly depending on various factors such as location, materials used, and the type of foundation required. On average, the cost of building a house in India ranges between Rs. 1,500 to Rs. 2,500 per square foot. This means a standard 2,000 square feet home would cost between Rs. 30 lakhs to Rs. 50 lakhs to construct.

So let’s get started!

Cost to build a house in India depends on Location:

As we mentioned above, one of the main factors affecting the cost of building a house in India is location. Construction costs vary widely from city to city and even from one neighbourhood to another.

For example, the average cost per square foot to build a house in Mumbai is Rs 2,500 per square foot. However, this number can rise to Rs 4,000 per square foot or more in posh areas like Bandra or Juhu. On the other hand, construction costs in cities like Pune, Bangalore, Noida or Kochi are much lower, averaging Rs 1,500 to Rs 2,000 per square foot.

So if you’re planning to build your dream home on a budget, it’s important to choose your location wisely. Consider the overall construction cost in different areas before making your final decision.

Construction cost per square foot:

The cost per square foot is another vital factor to consider. This cost can vary widely depending on the materials used, the type of foundation required, and other specifications. The cost can range between Rs. 1,500 to Rs. 2,500 per square foot.

The total square footage of the planned home also plays a role in determining the overall cost. A larger home will naturally cost more to build than a smaller one, but it’s important to remember that the cost per square foot will also impact the overall cost. For example, 2,000 square feet home built with brick walls and a concrete foundation will cost more than 1,500 square feet home with wood frame construction.

Customised Design & Architecture Plan

One other factor to consider when estimating the cost of building a house in India is the design and architectural plan of the house. Custom or unique design elements can increase the cost, requiring additional effort and specialised skills to execute. Additionally, if you opt for premium finishes or high-end materials, it will also impact the overall cost.

Contingencies

Another important point is to budget for contingencies, unexpected expenses or cost overruns. These can happen due to various reasons such as change in design, increase in material costs and permits, or any other unforeseen issue. Keeping aside 10-15% of your budget for contingencies can help you stay financially prepared in case of any unexpected events during the construction.

Permits & Approvals

Lastly, it’s important to note that obtaining the necessary permits and approvals for construction can also add to the overall cost. It is a good idea to factor in the cost of permits, approvals, and other legal fees when estimating the overall cost of building a house in India.

Other factors affecting the cost of construction in India:

In addition to location, cost per square foot and Total square footage, there are a number of other factors that can affect the overall cost of building a house in India. These include the materials used, the type of foundation required, etc.

1. The land on which the house will be built: Another important factor to consider when estimating the cost of building a house in India is the land. The price of land can vary widely depending on the location.

 

For example, land in Mumbai is generally more expensive than land in other parts of the country. This is because Mumbai is a densely populated city with limited space.

If you’re planning to build a house in Mumbai, you can expect to pay between Rs 10,000 and Rs 15,000 per square foot. This number will fluctuate depending on the specific location of the property.

2. The design and style of the house: The design and style of the house will also affect the cost. If you want a luxurious home with high-end finishes, you can expect to pay more than if you’re planning a simple, functional home.

Some other factors that can affect the cost include the type of materials used, the size of the house, and the number of floors.

3. The materials used for construction: The materials used for construction will also affect the cost of building a house in India.

For example, using brick walls instead of concrete will generally increase the cost. The same is true for a house with a basement or a second floor. Additionally, the cost of land and labour will also affect the overall cost.

4. The contractor or builder you choose: Another important factor to consider is the builder’s fee. This fee can range from 5% to 20% of the total cost, depending on the size and complexity of the project.

Building a house is a significant investment, and it’s important to work with a reputable builder who has experience in the Indian market.

The cost of these permits can vary widely, so it’s important to factor this into your budget.

5. Additional Costs: There are a few other costs to consider when building a house in India, such as the cost of transportation and utilities. These costs can add up, so it’s important to factor them into your budget.

Conclusion:

In summary, building a house in India can be a complex process, and it is important to consider various factors such as location, cost per square foot, total square footage, design and architectural plan, materials and labour, contingencies and permits/approvals when estimating the overall cost. By keeping all these factors in mind, you can develop a realistic and accurate budget for your dream home. Building a home in India can be an exciting journey, but it is essential to understand the cost involved clearly. With careful planning and a budget-friendly approach, building the home of your dreams is possible within your budget.

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