Average Residential House Construction Costs in Bangalore

Amongst the list of fastest growing cities in India, Bangalore is presently in the pole position. Owing to the technological advancements, the region also occupies a prominent place amongst the metro cities of the nation. Robust construction, solid foundations, and reliable costs are the prerequisites to fantastic real estate investments. It’s often said that the only wrong time to buy property is ‘later.’

Landholdings and ownership not only provide security but also render a feeling of independence and reliability. It must be designed and crafted in such a way that it provides people with warmth and comfort. Also, the construction work must be done in ways such that the result is an excellent, well-built, astonishing and sturdy venture. The happiness gets doubled if the property is located within the boundaries of the Bangalore city.  The construction costs of residential property have been changing for decades. You can’t predict the current cost based on the previous trends.

House Construction Costs in Bangalore

Owing to the developments in the IT sector, the city offers some highly enthralling opportunities to qualified people worldwide. With the increase in the population and immigration from all over the world, the residential house construction costs in Bangalore have touched greater heights. Bangalore is the IT Hub of the nation, migration of people to this highly diverse city is inevitable. This leads to an increase in profit for the real estate agents of the city. According to an analysis, the current residential house construction cost in Bangalore comes out to be north of Rs 1400/square ft. This is the basic price for the current construction scenario and varies as per the location, dimensions, material and other factors.

Cost of Construction For 30×40 Dimension Houses

For a 30×40 site, the residential house construction cost in Bangalore varies according to the area in square feet available. With 30×40 site houses, you can avail different utility and advantages. Building an independent house, duplex house, duplex as well as rental house and specifically rental house are some of the benefits of 30×40 dimensional constructions. Overall, the cost for construction of 30×40 site houses varies from Rs 1650 to Rs 2000 per square feet. This might vary according to the design, location, materials used and other crucial factors.

Level of Flooring Construction Area(Sq. Ft.) Average Cost OF CONSTRUCTION (Rs.)
Ground Floor Only           1200 18 to 22 Lacs
Ground + One Floor           2400 25 to 40 Lacs
Ground + Two Floors           3600 45 to 60 Lacs
Ground + Three Floors           4800 65 to 85 Lacs

 

Cost of Construction For 40×60 Site Dimension Houses

As far as the residential house construction cost in Bangalore is concerned, 40×60 dimensional sites are quite trending these days. The cost entirely varies on the material used, type of house, floors, location, BHKs, the structure as well as flooring. After analysis of all the above aspects, the exact cost is estimated. For a 40×60 dimensional residential house, the construction cost varies mainly according to the number of floors.

Level of Flooring Construction Area(Sq. Ft.) Average Cost OF CONSTRUCTION (Rs.)
Ground Floor Only                     2400 40 to 45 Lacs
Ground + One Floor                     4800 70 to 75 Lacs
Ground + Two Floors                     7200 1 to 1.2 Crores
Ground + Three Floors                     9600 1.3 to 1.5 Crores

 

Factors Influencing Residential House Construction Costs

Every potential property owner wonders about what could lead to an increment or decline in house prices. Valuation of property is a crucial factor and requires consideration from those looking to invest in properties.

Here are some factors that affect your property’s price and valuation.

Variations in Demand and Supply

This factor is something very basic. We’re all aware that if the demand for property is high, but the number of properties available for sale is low, higher prices are inevitable.

Office Space Demands in The Region

If the demand for office spaces or establishment of diverse industries is high like IT Sector in Bangalore, the real estate demand elevates on its own. This is because the employees need a space to live near the area their office is in.

Infrastructural Aspects of The Location

Facilities like road, rail and air transportation, availability of malls, hospitals, schools and other necessary requirements play an essential role in real estate valuation. If the area has better infrastructure and facilities, the price of construction is likely to be on the higher end.

By |2018-08-22T22:19:43+05:30August 22nd, 2018|Buildings, Construction|