Construction Cost in Chennai
In Chennai the construction cost remains low due to various reasons. The city is developed and very advanced. It is the biggest financial, industrial and commercial centre in southern India. Chennai is very popular as a tourist destination too. Many tourists from all over India visit Chennai to spend their vacation. So it becomes imperative to find out a Chennai house construction cost per seat.
In Chennai the construction cost depends on the land that is available on the site of the development. By taking into consideration the house construction cost per seat, this will be compared with that of the other city by means of the house construction cost per seat calculator. This gives an idea of how much it would cost to build a particular property. Another factor is the quality of land that is available. Some portions of land are better than others and this determines the cost as well.
Once the land has been purchased, the developer needs to find a contractor for the construction. There are several contractors available in Chennai and so the construction cost at this stage is less than what one would expect. One of the most important things to remember is that the developer needs to find out an experienced contractor for the job. The best way to find out a contractor is to search on the Internet.
The next step involves site preparation. The developer needs to find a developer that is capable of handling the construction cost at a reduced rate. The developer will negotiate with the contractor for a price according to the requirements. Site preparation is required for almost every project. For example, when you compare site preparation costs with other cities like Delhi and Mumbai you can see how much of a difference there is.
When you discuss the total cost with the developer the developers usually include the site preparation cost with the actual construction cost. This is because the developer may want to renovate some portions of land to make the building look more modern. In this case the developer may add a little more to the total cost. Developers are very familiar with the real estate market and they know that there are certain elements which need to be considered when estimating the construction cost. Some of these elements are the availability of raw materials, labor costs and the government tax rebates. These things are often neglected by the developer.
If the climatic conditions are not favorable construction cost in Chennai is likely to be high. Chennai has one of the worst climatic conditions in the world and this factor is considered by many builders. Chennai is surrounded by water meaning that the climatic conditions during the construction period are always very unfavorable. The rainy season is a very important factor and most of the builders will
be depending upon rain during this time. There is no construction in the coastal areas during this period and this is the main reason why the construction cost in Chennai is very high.
When you come to think of it the construction cost in Chennai is also affected by the type of Duplex you get. The larger the Duplex the higher will be the construction cost in Chennai. The factors which influence the construction cost are the number of floors, the type of the building and the local market price. The best idea to come out of this situation is to select a Duplex which is located in a less populated area and it is quite possible that the market price will not go very high.
The most expensive construction in Chennai is constructing a residential building and another important factor which affect the construction cost in Chennai is the change in the land use. The developers have to change the use of land from agricultural lands to commercial lands. These lands are more expensive because the soil is more fertile and needs more cultivation. A residential area needs less soil and this makes it cheaper. The third most expensive construction in Chennai is constructing a retail mall.
Construction Cost Per Square Foot in Chennai
Many people ask why is house construction cost per seat in Chennai as much as it is in other cities? Chennai is the second biggest city in the country and home to the largest port in the world, the harbor is very crowded and expensive. Consequently building houses on the shore will be very expensive. This means the price of land must be high. However, the land is relatively cheap and this is what accounts for the amazingly cheap construction cost per seat in Chennai.
Chennai is a hub for the IT industry, which means many IT companies will need an IT set up. The cost of hiring IT manpower will be very high, which means there will be plenty of competition for any job. There will also be staff who will want to earn a handsome salary and work in a prestigious place so the house construction cost per seat in Chennai is comparatively lower.
Chennai is the third most populated city in the country and because of this the transport facilities are among the best. Chennai is serviced by the state-of-the-art rail system, which will be one of the major factors responsible for the low construction cost per seat in Chennai. Chennai has the second biggest airport in the country and this will be another reason for the relatively cheap construction cost per seat in Chennai. The railway station is the main railway station in the city and this is an important transportation facility. Chennai’s international airport is also a major transportation facility and it also connects the capital of India, New Delhi, with the rest of the country. Being located only 40kms from the Chennai airport the connectivity is very good with both internal and external passengers.
The land ownership is high in Chennai and it is available in different forms like farms, flats, industrial lands and so on. Chennai is a good location for those who need to build their homes as the land availability is good and the construction cost per seat is comparatively less compared to other cities in India. The coastal area is full of mangroves, plantations, coconut grooves and so on. Chennai has a unique culture that blends with its surroundings and there is no congestion wherever you go in the city.
As Chennai is a major tourism center, there are many places that tourists love to visit. Visiting these places is quite expensive and the local people to earn a living out of tourism. Therefore, they construct many affordable houses in Chennai and charge low construction cost per seat. There are many places in Chennai where you can buy your own plot of land and start a construction business. But, you should be aware that the land is not fit for building houses. A small plot of land can be utilized for various other purposes and will help you save construction cost per seat in Chennai.
You have to follow some rules to save construction cost per square foot in Chennai. When you contact the contractor to build your dream home in Chennai, make sure that the measurements that the contractor provides to you are accurate and that the construction firm adheres to the regulations set by the authority. There are many firms that follow the norms but there are also many others who violate these norms and this makes the building process very expensive. If the construction company violates the construction norms, then you will have to bear the entire cost of construction at the end.
When you choose a construction company in Chennai, make sure that you check out the reputation of the company from past dealings. Ask for the quotes and the rates and also check out whether the company adheres to the construction norms or not. Reputable construction companies do not provide such false statements in their advertisement. You can also ask the clients about the construction cost per square foot that they have incurred and whether it was worth the construction cost.
Once you are satisfied with the quotes, you can finalize the construction cost per square foot. And then look for a builder who is ready to work with you. Do not choose a builder who offers you unrealistic quotation as this is not going to help you in the long run. You should be able to get the best house construction at the best price in Chennai.
House Construction Cost in Chennai 2020
A study comparing construction cost in Chennai against others cities in India has been recently conducted by the consultancy firm ID Analytics. The study was done to find out what the future construction cost will be like in Chennai, in next five to ten years. As per the study, construction cost in Chennai was found to be higher than the average across the cities of the same size in the country. The factors that led to this high construction cost were discussed and are discussed in the report posted on the website of ID Analytics.
Chennai happens to be a growing metropolis. And the metropolis is growing fast. And so the population is expected to double in the next few years. Though Chennai has already seen rapid growth, the demand for housing is still increasing and is rising at a very fast rate and this has resulted in an increased demand for an increase in construction cost per seat.
In other words, the house construction cost per seat has gone up. And it is expected to keep on going up. This is a problem faced by many realtors across the country. Because most of them base their estimates on the present building cost. But the value of land at present may not be the same as it might be in future.
The study also found that the construction cost per seat in Chennai was much higher than in any other city in India. The reason for this is that Chennai is the only city in India where the residential Real Estate market is basically a non-performing asset. The reason for this is that there is no investor activity in the Commercial Real Estate market in Chennai. The reason for this is that there are many properties which are being kept idle because of poor investment returns.
This means that buyers have become cautious about buying property. And there is no chance of them investing in a property if the cost per seat is high. This has led to a situation where construction cost per seat has become a key indicator of how good a house is priced. When you compare prices of various properties, the significance of construction cost per seat is evident.
The study also found that the construction cost per seat has been rising at a faster pace in Tamil Nadu compared to any other state. The reason behind this phenomenon is that Tamil Nadu has got many large construction companies which have their own construction facilities. As these companies are competing over the projects they want the cost of the projects to go down. As far as the buyers are concerned, they know that they will get the best deal if they hire a company which has its own construction facilities. The availability of such construction companies has led to an increase in the demand for properties which can be sold.
An average house construction cost in Chennai is about Rs 65000 per square meter. This figure includes the complete package of land, buildings and accessories used for the construction process. If you calculate the cost of each part separately, you will end up with a figure close to the national average. But if you look at the total value of the project, you will find that it is much lower than the national average.
On the other hand, construction cost per square meter has dropped considerably in Chennai from the national average. This is primarily because of the competition which builders feel towards this market. Another reason for this is that the infrastructure has improved a lot in Chennai. There are better roads and waste handling systems in the city. All these factors have reduced the cost of house construction in Chennai 2020.