myBDAsites.com

Hi,

I am building house in Mysore. Building Contractor quoted me 1350/sqft plus some additional cost.

I am attaching construction specification.

Review comments are welcome.

Regards,
Ravi

I do not have any comments regarding the specifications or cost. However, I do see a red flag. Your contractor is asking you to pay a lot of money up front. For ex: 55% payment to be paid, even before the slab is put and 70% of the cost as soon as the slab is done. This is too much money paid to the contractor too early in the construction. There is no mention of how cost escalation is handled, you need to have clarity in what the engineer covers and what he expects you to bear.

Thanks for reply Tvsh.

I will discuss payment schedule with contractor. I will also discuss cost escalation clause with contractor and mention it in document.