Which method of estimating costs is based on knowing the original construction cost of a building?

The index method requires knowing the original construction cost (without land) of building in question. Multiply that original cost by a number that takes into account the increase in construction costs since the building was built.

How is house construction cost calculated?

The construction cost of a house calculates are construction rate per square foot in that area which depends on the local materials rate and the labor rate. If the area of the plot is 1000 sqft and the construction rate taken by the contractor is 1200 rs. per sqft then house construction cost will be around 12 lakh.

What is detailed estimate in construction?

This is an estimate prepared in detail by referring all the drawings, specifications, DSR, design calculations etc. Detailed estimate includes the quantities of all the items of work, rates of all the items per unit and the costs of all the items of work. Detailed estimate is prepared in two parts. Measurement sheet.

What is the most detailed and reliable method for estimating construction costs?

The quantity survey method is the most detailed method. This requires you to break down all of the components of a building and estimate the cost of the material and installation separately. This is a quick method to give you a ballpark of your construction costs.

What is Square Foot estimating construction?

These could be well-informed guesses or estimates derived from a combination of other techniques, including estimates of each structure component. You can use the three-point estimate as a starting point to provide a range of likely construction costs.

How is house construction area calculated?

If the size of the plot or land being used for a project is 500 sq ft and the FAR determined for that particular city/locality is 1.5, then, the total floor area that can be constructed will be 750 sq ft (500×1.5).

How do you calculate development cost per unit?

To calculate the cost per unit, add all of your fixed costs and all of your variable costs together and then divide this by the total amount of units you produced during that time period.