India’s financial hub, Mumbai, is one of the costliest cities to own a property. Therefore, constructing a house in the city requires decision-making beyond selecting a location. It involves a detailed floor plan, quality raw materials, and civil and finishing work. This article breaks down the cost of constructing a house in Mumbai to help you plan and execute your dream home in the city.
Average cost of constructing a house in Mumbai
The average cost of constructing a house in Mumbai can vary based on desired quality. Here is the construction cost for a 1,000 sq ft house in the city:
Average Cost of Constructing a House in Mumbai | |||
---|---|---|---|
Construction Type | Basic Quality | Good Quality | Premium Quality |
Estimate for Construction | Rs 17 lakh | Rs 18.5 lakh | Rs 25 lakh |
Construction cost per sq ft | Rs 1,700 | Rs 1,850 | Rs 2,500 |
Source: Secondary
Key costs related to house construction in Mumbai
Here are the main costs associated with house construction in Mumbai:
Key Costs Related to Constructing a House in Mumbai | |
---|---|
Cost component | Detail |
Floor plan/layout | An interior designer or an architect may charge Rs 20,000 for a 1,000 sq ft floor plan. It will include basic specifications such as the home’s 3D view, external elevations and area statement, depending upon the site and client’s need. |
Raw material | Includes bricks, sand, cement, steel, and fittings and fixtures. These raw materials are divided into three categories: A class (Finest quality), B class (Cost-effective), and C class (Low-grade). |
Civil | Includes plumbing, tiling, and electrical works, comprising 10-15% of the project cost. |
Finishing | Includes wooden work, grillwork and painting, comprising 15-20% of the project cost. |
To conclude, building a home in Mumbai involves careful financial management. Sourcing quality raw material at a reasonable price can significantly affect the cost. Moreover, hiring an architect within your budget can help create a space-saving home in the city with limited land.