An expert guide on how the price of a house is determined

Here’s an expert guide to help you learn the process of valuing a residential property.

People generally talk about the cost of constructing a house in terms of cost per square feet. However, looking at the variations of construction technology which can be adopted, it has become very difficult to generalise the costs in specific terms. Though the average per square feet cost of construction ranges between Rs. 1600 to Rs. 2500 in India, the actual cost will vary depending on various factors. The cost of a house includes various components, which vary depending on the location of the site, design and materials etc. The relative share of each component in the overall cost of construction varies so widely that it is almost impossible to state deterministically not only the overall cost of construction but also the relative share of each component of cost. However, it is importan...

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