Constructing Low Cost Homes: Tips To Make It Real!

By Author: indiahomes marketing
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Mumbai real estate bubble is at an all time high levels. The present global scenario has hugely impacted Mumbai real estate market, leaving fewer options available for the low income families. As a result they are forced to make desolate choices, cut short their day to day expenses and control their expenditures in order to afford a decent living in Mumbai. In such a downturn, low cost housing scheme builders must make every penny count by controlling construction costs while ensuring full safety compliance and delivering maximum value returns. Creating equilibrium between cost variants and delivery initiatives is a must to keep your costs within the budget.

1. The Lean Construction Initiatives – The principles of Lean manufacturing also apply to construction as well. World over buildings are being constructed applying the same principles of lean manufacturing. These initiatives are based on a lot of planning and aforetime management of construction phases ranging from inventory allocation, price fixation, labour management, construction schedule definition and a lot more.

2. Construction Costs – Construction ...
... costs include inventory costs, material costs, material transportation costs, labour costs, labour meal/food costs, consultants’ (architect, interior designer) fee, government approvals, taxes and other miscellaneous expenses. Herein, you can specify the material to be used and keep construction costs from soaring high. As an example, you can define a certain type of upholstery which is cheaper yet functional. You can go for plain tiles and low cost flooring material. For example, cement floors are cheaper than marbles or tiles.

3. Build Homes as Per Specifications – This is one of the highly successful formulas in building low cost homes. You can define a basic set of specifications that would come under a certain price slab however for those home buyers who want anything beyond the mentioned specifications would have to incur its costs as well.

4. Conduct Audits & Checks – As your construction proceeds from phase to phase, you must conduct audits and checks to ascertain adherence to defined construction plan. This will allow you to keep a constant check on your budget and also maintain highest quality standards. Timely construction audits not only ensure timely delivery of the project but it lowers your cost of construction as well. Project delays directly result into excess construction costs that you sure don’t want to see happening.

Amidst the above mentioned moves from the low cost housing society’s builders to keep their construction costs low, it is very evident that government comes forward in order to support low cost property dwellers. A segment of low cost home dwellers feels that government should allow further subsidies in low cost housing schemes. The budget home builders at that same time feel that they have to pay equal duties and do as much paper work for low cost housing schemes as they have to pay for premium apartments and housing schemes. They feel that government should allow further tax subsidies to budget home buyers and builders as well in order to promote further low cost housing schemes in Mumbai real estate market and the neighbouring region.

Author Bio :

Nitin Sabharwal is an enthusiastic marketing explorer who redefines prospective subjects for his works in digital advertising & marketing, e-commerce, and content development. With a commanding work experience of 16 years, Nitin’s participation in digital enabled services with a special emphasis on the Internet has earned him several respectable positions in India’s premier companies. Positioned as VP-Marketing of IndiaHomes, Nitin is maneuvering the company’s branding, Performance, CRM, Contact Centre, Event Marketing and Digital Marketing. Academically, he holds an MBA degree from IMT Ghaziabad. Mumbai real estate, Mumbai real estate market