Construction cost in Hyderabad least among top six cities
The average cost of construction for a residential apartment in a mid-rise building in Hyderabad is pegged at Rs 2,375 per sft, whereas, Mumbai is termed the costliest with an average cost of Rs 3,125 per sft, said a real estate consulting firm.
According to CBRE South Asia’s recently released report titled – India Real Estate – Variance in Construction Costs, Mumbai remains the most expensive among the six leading cities in India, while construction costs in Chennai and Bengaluru are almost at par, as are those in Delhi and Pune, whereas Hyderabad has the least cost.
The report further assumes the variation in costs to different demand levels, proximity to supply centres as well as the efficiency of logistics networks across these cities. Moreover, engineering costs too vary in accordance to the region.
In Hyderabad, the cost of construction of a Grade A office is Rs 2,375 per sft, a shopping complex or multiplex is Rs 3,895 per sft, a five-star hotel including FF&E is Rs 11,400 per sft and the cost of constructing a heavy industrial structure is Rs 4,085 per sft.