outlookbusiness.com-Housing Projects' Construction Cost Surges 39% in 4 Years: Colliers
The average cost of construction for housing projects in big cities has increased by 39 per cent in the last four years to Rs 2,780 per sq ft, with building materials and labour becoming expensive, according to Colliers India.
Real estate consultant Colliers India data shows that the average construction cost for premium housing projects stood at Rs 2,000 per square feet in October 2020.
The construction cost rose to Rs 2,200 per square feet in October 2021, Rs 2,300 per sq ft in October 2022, Rs 2,500 per sq ft in October 2023 and Rs 2,780 per square feet in October 2024.
Colliers India said these are average costs for a Grade A residential building of 15 floors. The data pertains to tier-I cities.
