The average home construction cost in 2024?
Everyone wants to own a home. Because we all want to have our accommodation, where we are free to do anything without any restrictions, we can customise it to our needs and can make any changes we desire. But whenever we think of building a home, one thought hits us hard: construction cost.
As we all know, most of the people living in India are Middle class and don’t have lakhs to spend at once. They need to plan before they execute any task that involves financial backups. Building a home requires substantial financial support. In this blog, we will tell you about the construction cost management of a house and how to calculate your home construction cost by your own.
Apart from that, this blog will also help you in saving from frauds done by contractors because of the lack of knowledge of the owner. This blog involves every aspect that you need to look at and calculate your home construction cost. Based on those factors, you will be able to calculate the actual home construction cost per square foot.
Things you need to know before calculating the construction cost of your home
Before we proceed to calculate the home construction cost, we need to know certain things such as:
• Total Land Area
• Elevation (Height of the home)
• Layout
• Material Quantity
• Quality of Construction Material
Total Land Area
The construction of your home depends on the land size you own. The bigger the land size will be, the more construction costs you need to bear. To calculate the construction cost, I will take the average size, which is 1000 square feet, for the most appropriate calculation. But your cost may vary on your land size. So, for better calculation, you can determine the average price per square foot and then multiply it by your size.
Elevation
The construction cost increases and decreases with the height of your home. The average height per floor in India is 10 feet or 3 metres. However, when you increase or decrease the average height, there will be an increase or decrease in the construction material used. So, the cost will vary depending on your home’s height.
Layout
Layout plays a significant role in the construction cost. For example, if you build three rooms, two bathrooms and a kitchen with a hall, the construction cost will be high. But if you make 2 rooms, a kitchen and a bathroom. The construction cost will be lower than the first one as it doesn't contain extra units. So, always finalise your layout before calculating the total construction cost.
Material Quality
The cost of home construction also depends on the quality of the material you use. There are cements in the market that are sold for 350 rupees per bag, and some are being sold for 450 to 500 per bag. There are various qualities of iron, bricks, and other construction materials, Varying in terms of cost according to their quality. So, always remember to finalise the quality of the material before constructing your home.
Material Quantity
The cost of the home construction also depends on the quantity of materials you use. For example, some walls have a thickness of 5 inches, and some have a thickness of 10 inches. Some keep the thickness of the roop a bit thin, and some keep it thick. Some don’t use lofts, whether inside or outside the home, but some keep it. Some keep racks inside the rooms, but some don’t. So these factors increase the quantity of construction material and, in parallel, the cost.
Now you know all the aspects of the calculation of the construction cost of a home, let's calculate the construction cost:
How To Calculate Home Construction Cost?
The calculation of the construction cost includes:
• Cement
• Sand
• Stone
• Steel
• Bricks
After you have finalised the material you will use, you need to calculate the cost based on these factors. I have calculated the price of 1000 square feet of land because it is the average land on which homes are built.
To calculate the final cost:
Sum up the cost of materials as shown in the above picture and then add labour charges and some other expenses that you spend on your home. You will get your final construction cost. For a better understanding, please see the cost chart below.
The cost of home construction in India can vary from 10 lacs to 17 lacs. It depends on the quality of material you use and the overall interior of your home.
Home Construction Cost Per Square Foot
The average cost of construction of the home per square foot is 10000 to 17000/-
Conclusion
The above post includes all the aspects of the cost of construction of a home in India, including all the elements you need to focus on before calculating the actual price.
.webp)
.webp)
.webp)
