What will be the cost of constructing a new home/apartment/villa?
Dear friends and well wishers!
This is Rajkumar from Blue Moon Constructions wishing all of you a rather belated but sincere Tamil New Year, Ugadi and Vishu. We are what we are today only by your continued patronage and confidence in us and I assure you that we will always live up to the same. Let us hope and pray that the cloud of uncertainty and fear that has been cast by the Covid-19 would soon clear and let our personal and professional lives to return to normalcy.
As a construction company we at Blue Moon Constructions have been well aware that we are engaged in providing one of the most basic needs of mankind which is shelter, safety and comfort. We understand that a house unlike other investments is not a short term investment but one that we do for our lifetime and for our next generations and hence we have been extremely quality and cost conscious in our endeavors be it an apartment, independent house or a villa. We realize that the brick and mortars structures that we put up would soon be someone’s loved home of safety and comfort and hence we ensure the best in quality and convenience.
I take this opportunity to share with all of you that the cost of construction materials have gone up extremely high, the hike in costs are much more steep than ever before in the past and this has delivered a serious blow to our industry. We are engaged in a business touching the common man and as the head of a company engaged in creating homes for more than 10 years I have to share that our industry has been very badly hit by this increase in the cost of every component that goes into the construction of a building, which in turn is reflecting in the cost of the finished product which could be a flat, independent house or villa.
Let me share a quick note on the extraordinary price rise of the key inputs of our industry
- Cost of a 50 kgs bag of cement has increased by Rs 90/-
- Cost of steel has increased steeply by Rs 22,000/- per tonne
- Cost of Electric and plumbing materials/cables have increased by 14%
- Cost of labour has increased from Rs 100 to Rs 150 a day
- Quality river sand is almost unavailable and its price too has shot up steeply
- Cost of land has also registered significant increase
I wish to share with each one of you that the above factors have collectively contributed to a massive increase in the cost of constructing and delivering a dwelling be it an apartment, independent house or villa.
As the head of a construction company with a vision and mission of providing homes at affordable costs at economic prices to all sections of society, I am highly disturbed by the rise in cost of every single input in our industry which in turn has steeply increased the cost of the end product – Your Dream Home!
I assure you with all sincerity that Blue moon Constructions will stand by its vision and mission in these trouble times and keep up its promise of making available the best residences in Chennai to our esteemed customers at the best affordable prices. We understand that a house is a lifetime investment, an investment that we make for ourselves and our next generation and there cannot be any compromise in quality and we will continue to live up to your highest expectations.
I hope my communication has given you a fair idea on the reasons for the steep rise in the price of apartments, independent houses and villas. I take this opportunity to extend a warm welcome to each one of you to visit our ongoing projects with your family and make your decision on your lifetime investment.
MD –Blue Moon Constructions