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Real Estate Forum on Construction Cost

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Q: How to avoid false roof & bad quality construction work?
Latest Answer: Hi Vinay, As far as possible have rectangular rooms. Even an 11x15 ft ratio is good. You require less steel rods to support and strengthen it. You can have a strong staircase with two support beams. With Saadarhalli stones and 2RCC beams as support, your staircase is strong. The extra thick layers of cement are more a habit done out of fear, by the contractor.
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Q: We are a group of 4 individuals. Some working i.e. Salaried and a few in Business. We plan to buy a plot approximate 4-5 Ghunta within the PMC limit and construction a Building having 2BHK Flats within the permissible limit - may be 4-5 units.

We want this to be a financed project and AFAIK Banks offer something called a Composite Loan (Plot + Construction). Few queries based on this.
The Loan has to be taken by all 4 of us to buy plot and construct. How is this possible? will the banks allow a joint borrowing based on our Income Tax from our source of income?
How does the Down payment etc work. Does the Bank expect us to have a project plan etc and then approve this?
For Disbursement, Does the bank pay us off in one go? We may take 2 years to construct the property? no use of having all the money at one time.

We also welcome any VC's who may want to invest with us. We are planning to construct it at A quality.

How easy is it to sell such properties?

Is there anyone who has done projects like these? could you please get in touch with me. Could get to learn from your "Lessons Learned"

Latest Answer: Hi Krishnendu, And also do not give a false declaration as the bank may demand that you repay the loan in one chance and if you are not able to pay, it will spoil your credit history. If you don’t plan to construct a house instantly, you could apply for a plot loan or get the existing loan modified or converted into a plot loan.
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Q: Hi I heard that the construction price went upto 30% !What is the reason behind that.
Latest Answer: But the demand of the people are going on rising, right... so will the hike in construction price will effect the home buyers demand?
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Q: what will be the approx. cost of constructing a 3 floor house on a 30x40 plot.............

Latest Answer: Hi Induja, It depends on what kind of material you are using . If you are using costly material the it will be around Rs 1500 per sqft and if you are using affordable material if will be around Rs 1100 per sqft.
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Q: Finally they have constructed a new bus terminus at Chengalpet. What was the total construction cost?
Latest Answer: We are very happy with the new bus terminus. At present, around 50 buses of the Metropolitan Transport Corporation and 110 buses of the Tamil Nadu State Transport Corporation (Villupuram division) are operated from the town.
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