FAQs - Planning & Estimation
Q. What are carpet area, built-up area & super built-up area?
Carpet Area: This is the area of the apartment/building, which does not include the area covered by the walls. Built up Area: The carpet area plus the area of the walls. Super Built up Area: This includes the built up area along with the area under common spaces such as the lobby, lifts, stairs, etc.
Q. What are the things one should keep in mind before finalizing a land deal?
Some points which one must pay attention to prior to land deal:
- House plot should not be under any acquisition proceedings of any government bodies
- Verify from the planning authorities whether the land was designated for residential use.
- The survey number of land is critical.
- Certificate obtained from registrar’s office should confirm that there is no encumbrance on the property.
- The title deed of the land should be clear and an advocate should be consulted for this.
- Verify the rates after contacting some property consultants and some people who have purchased their plots recently. You should also refer guidelines and the market rates published in the government manual of your city/town.
- Stamp duty at the time of registration is mandatory.
Q. What are the important considerations before selecting a piece of land?
While selecting the land one should give importance to following issues:
- Required size of plot and construction area
- Existing rates area wise
- Distances from Railway Station, Bus Stand and Air Port.
- Distance from your work place.
- Distances from hospital and medical clinics.
- Available infrastructure like water supply, drainage, road etc.
Q. What are the points, one should pay attention to while awarding the contracts for house construction?
Whatever the type of contract, one needs to pay close attention to the following aspects:
- Type of materials
- Quality of work
- Advance payment, if any
- Progress & time schedule
- Future measurement & payment conditions
Q. What would be an approximate cost per sq.ft of my house construction?
To give an idea, depending on the finishes you choose, the construction cost should be as follows -
Type of finish in the construction
Cost (in rupees) per sq.ft of construction
Top Class Finish
750 - 1000
Medium Class Finish
480 - 700
Simple Class Finish
350 - 550
Q. What is the ratio of material, labor and other expenditures for house construction?
60:30:10
Q. What would be the approximate cost break up for various works in terms of percentage of construction cost of house?
Sr. No.
Materials/Activities
Expenditure in terms of percentage of construction cost of the building
1.
Design & fee for engineer/architect
3-5
2.
Labor Contractor for concrete
6-10
3.
Lay out & Excavation
2-4
4.
Water
0-2
5.
Soil/Mooram
1-3
6.
Cement
10-14
7.
Sand
3-5
8.
Bricks
8-10
9.
Stone aggregates
4-6
10.
Steel rods (Sariya)
3-5
11.
Doors & Windows
6-8
12.
Shuttering/ Formwork
2-4
13.
Bore Well
2-4
14.
Plumbing & Sanitation
6-8
15.
Electrical works
4-6
16.
Flooring
3-7
17.
Painting
6-12
18.
Boundary walls & Main gate
1-3
19.
Others
6-8
Q. Give me break up of stage wise construction cost to plan my financial requirement.
Stage
% Cost of total construction
Excavation, Concrete for foundation & plinth
15
Superstructure concrete & brick work
25
Roof Slab
15
Flooring
5
Plastering & Painting
10
Doors, Windows & Woodwork
13
Water Supply, Sanitary & Fittings,
17
Electrification and other special items
Total
100
Q. What is the EMI in house loans?
Once you take house loans, you will repay your amount in monthly installments depending upon the loan amount, total duration and interest rate. This means you have to pay certain amount per lakh rupees during the entire period. This is called Equated Monthly Installments (EMI). The longer is the repayment period smaller will be the EMI. Generally, EMI doesn’t exceed the 50% of household income.
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