Has construction cost shot up in the last 2 or 3 months?!

[sreekbda]

How accurate is this article?

http://www.thehindu.com/news/cities/ban ... 634542.ece

The following para is from that article:

"If quality materials are used, the cost would exceed Rs. 2 lakh. Labour cost has doubled and input materials have increased by more than 20 per cent,” he said, adding that he expected the cost to go up further.

[arjun.surendra04]

Prices always keep fluctuating. Ideally you would see a jump in prices after the union budget is announced. After that prices should be stable till the next budget. If there is any deviation then its due to some constraints eg: river sand there which shot up few months back due to cancellation of few licenses has now come down a little bit. Over all once you enter into a contract give 5-10% margin that should be absorbed by the contractor, else you will end up paying for all minor hikes.
https://sites.google.com/site/arjunwebworld/Home/blogs/constructing-a-house-in-bangalore

[sam_m400]

Hi

1. You mentioned in the site https://sites.google.com/site/arjunwebw ... -bangalore that .I heard it is 1900 Rs to 1850 per Sq.ft and Sal is aroun d 950 to 1050 Rs per Sqft. Can you please let clarify where you get wood at this cost?

Honne Wood with sal frame with grill - 500 /sq ft.
Honne Wood with sal frame - 350 /sq ft.

2. Any way can i get the per sq:ft or bulk labour rate for plumbing/carpenter/barbending/centering/flooring/earth work/sump/foundation laying/plastering etc as your site mentioned labour+material rate of 1200, 1400 Rs etc ,if possible

Sam

[simplycar]

No opinions on the original topic since I am still looking for a plot but very good info in the link that Arjun mentioned, very informative

[sreekbda]

arjun.surendra04,

Superb blog you have created man!!!! It is simply astounding to find all needed information in one place!

I recommend that everyone planning to construct a house in bangalore read your link first!

By the way, how did you gather so much information. Your photo at the blog shows you to be in your twenties only!

[girishd]

Arjun,

Awesome details in your blog man!! Thanks for Sharing.

[JollyRogers]

Based on my experience (I started construction of my house in March'12), except for the price of Steel (Used to be 45k for Indus Steel, now it is 51k per ton) and Cement (ACC PPC, used to be around 300 and now it is 325), there has been no much difference in the prices of other raw materials. (Sand, Bricks, Jelly stones, labour).
I am not sure of the interior commodities (Bath fittings, Kitchen, Windows & Doors) as I havent started that work yet.

[girishd]

@JollyRogers,

Thanks for your input. Has labour cost increased?

[JollyRogers]

No increase in the labour cost in the last 5 months.

[msn1270]

Expect correction in the steel prices in the coming days. Worldwide global steel consumption is reducing month on month and all manufacturers have surplus inventory. In order to clear their inventory they've to reduce the price. Else they've to close down their units.

Earlier China was exporting 2 million tonnes of finished steel to the Global market. Now they're pumping 5 million tonnes and it is going to increase further, as their local market demand is crawling and slow down in the European region(2012 Olympics preparations are over). Already rest of the Asian Steel Manufacturers like POSCO(Globally 4th largest steel maker) and NIPPON(Globally 6th largest steel maker) are worried about this and preparing themselves for cost cutting. Major steel consumptions field like Automobile and infrastructure fields are not doing well everywhere including India. Already China is having more than 15 million tonnes of surplus inventory. Their largest steel maker Baoshan is expected to cut another 5% in their prices next month. India is not an exception from this effect.

Earlier some how our gr8 steel manufacturers lobbied Central Govt to impose additional duties on steel import to check Chinese steel import by Indians. Now with the falling steel prices globally and greedy and stubborn Indian manufacturers price, importing china steel becomes much cost effective than getting local steel.