5 Key Costs in Building a New House
Building your dream house can be like a roller coaster ride. From deciding the location to breaking down funds- everything will have to be done by you. While you’ll have complete control over every aspect that would go in, this control would cost you more than usual. But sticking to your budget and making wise decisions will make the entire process a cakewalk.
Here are 5 key costs that you can consider before building a new house
Land Cost
The first step towards building a new house is acquiring land. While the price of land varies based on the size, location and various other factors, the average cost of land per square feet in the top five cities of India is as follows-
Mumbai- ₹8,00,000/ sqft
Delhi- ₹7,50,000/ sqft
Bangalore- ₹6,40,000/ sqft
Pune- ₹4,000 to ₹10,000/ sqft
Kolkata- ₹Rs. 5,000 to Rs. 8,500/ sqft
After the acquisition, you’ll have to clean the land, connect it to the city’s water and sewage system and make it habitable. For the estimation, do research and get quotes from top-rated firms.
Foundation
The cost of the foundation depends on several factors:
- The type of foundation – slab, crawl space, or basement
- Location and terrain of your land
- Soil condition – weak soil may require reinforcement
- Depth and size of the foundation
- Cost of materials (like concrete and TMT bars)
- Labor charges in your area
- Additional waterproofing or drainage systems if needed
The average cost for constructing an RCC slab foundation now ranges between ₹180 to ₹200 per sq. ft., inclusive of materials, labor, shuttering, and steel reinforcement.
Key Factors Influencing RCC Slab Costs
- Type of Foundation: Slab, crawl space, or basement foundations have varying complexities and costs.
- Location and Terrain: Soil conditions, seismic activity, and local regulations can impact construction methods and expenses.
- Soil Quality: Poor soil may require additional reinforcement, increasing costs.
- Depth and Size: Larger or deeper foundations necessitate more materials and labor.
- Material Costs: Prices for cement, steel, and aggregates fluctuate based on market conditions.
- Labor Charges: Labor costs vary by region and demand.
- Additional Requirements: Waterproofing, drainage systems, and other features can add to the overall cost.
Plans and Designs
To create a custom home, the designs and all architectural plans need to be made from scratch. For this, you’ll have to hire an architect or a firm who know how to design a detailed blueprint of the area.
You can also select an existing architectural plan to save in this part.
Labour and Materials costs
With so many choices and quality of materials present, the material cost would depend on your choice and preference.