Kerala house plans with estimate, Construction Cost in Kerala per sq.ft.
The expected cost of our Kerala Villas will be about Rupees 50 Lakhs each. Rs. 50 Lakhs or Rs.5 Million (about $100,000-). This price will include the cost of 1/24 th share of the common properties like the roads, walking track, park area, club house, staff quarters, etc. Each plot will be separated by a low brick compound wall. In total the area of the gated compound will be approximately 10 acres.
A good plot of undeveloped land near suburban Munnar or Vagamon can be estimated to cost about Rs.25 lakhs per acre or 250 lakhs for 10 acres. To develop this land and to fence all around with a high fence, divide it into plots, build tarred roads, provide street lamps, electronic surveillance system, etc estimated to cost about Rs.15 lakhs per acre or 150 lakhs for the 10 acres. The cost of building the common facilities will be another Rs.200 lakhs, assuming common facilities like the club house, staff quarters, etc will have a total area of 15,000 sq.ft. and that it can be built at a cost of Rs.1200 per sq.ft. Thus the total cost of land, land development and building common facilities will work out to 250+150+200=600 lakhs. Therefore the cost of land and other facilities per house will be 1/24 of 580 lakhs, or Rs.25 lakhs per house. On enquiry, estimates given for the cost of construction in Kerala of a decent one story villa in Kerala is about Rs.1200- per sq.ft. So the cost of construction in Kerala of a 2000 Sq.ft. villa will be Rs.24 Lakhs. Your total investment will therefore work out to approximately Rs.50 lakhs (25 lakhs for the land and 24L for the house).
Land with backwater frontage near Cochin or Alleppy would cost about Rs. 100 lakhs or 1 crore per Acre. The rest of the costs will be the same as above. Thus the cost of our 10 Acre backwater frontage super housing colony will be: 1000 Lakhs (10 crores) cost of land, 150 Lakhs land development and 200 Lakhs for building common facilities making a total of 1000+150+200=1350 lakhs. This 1350/24=56.25Lakhs each Plus Rs.25 Lakhs for the house cost works out to 81.25 Lakhs per Villa. With the $-Rupee rate being over Rs.50- per $, the total of Rs.81.25 Lakhs = $162,500- for a super luxury villa in Kerala.
Remember that we will be sharing all the costs and we will be jointly awarding the contracts to reputed civil contractors. All decisions will be taken jointly. If we are lucky, we may be able to complete the project with less money.
Fixed Deposit instead of Monthly Maintenance Fees
In addition to this, each resident will keep a fixed deposit (FD) of Rs.15 lakhs in his own name in a designated bank with the interest on this FD being assigned to the House Owners Association (HOA) for the recurring monthly expenses for the facilities being provided. The interest on Rs.15 Lakhs in FD, will hopefully be at least a nett of Rs. 112,000- per annum at 7.5% interest. This works out to Rs.9375- per resident per month. So total collection from 24 residents will be Rs.2.25 lakhs per month. This amount will be used for the upkeep of the colony and for the monthly expenses. A very rough estimate of monthly expenses is given below. These funds will managed by the elected members of the HOA and each house owner will be a member of the HOA with one vote per villa. The elected committee will decide on how to spend the money.
Only people ready to invest Rs.65 Lakhs for their exclusive retirement villa in Kerala need apply. No money will be asked up front, payment will only be made by you after you are convinced about the feasibility of the project and after you have a rock solid agreement.
Just a quick estimation of the monthly expenses:
|Common Facility Electricity||1||20,000|
|Provision for other expenses||75,000|
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