Why Affording a House is No More Complicated?

Cut cost

If a land parcel is available at low costs, the rate of construction accounts for 50-60 percent, which is low compared to luxury housing where the cost is around 80 percent.

Praveen Malkani, managing director, Patel Realty, a Mumbai-based developer said "Total cost control and fast completion of projects is critical to keeping costs down. A developer should be able to complete construction in 18-24 months. If the construction time is extended, input costs go up significantly," reports Business Today.

"In markets such as Mumbai, where land prices are high, the size of the apartment has to be squeezed to make it affordable," added Malkani.

In today’s date, developers are implementing latest technologies to reduce cost and time. The low-cost technologies and raw materials can bring down cost by 20-30 percent. Such materials are reinforced concrete blocks, pre-cast hollow blocks, pre-cast lintels, floor tiles, pre-fabricated panels and polymer panels for doors and windows.