How To Calculate The Construction Cost For A New Marriage Function Hall?
You want to start your own banquet hall business, but you don’t know how to estimate the construction cost for it. Well, the amount you will need to build a marriage hall totally depends on how luxurious you want to make it. However, a rough estimate will always be helpful for you to plan your expenses.
Before starting anything, it is advised to conduct a feasibility study of the area. Some halls are designed with minor needs and others, and more luxurious ones are constructed with major needs. So, the construction cost of a function hall depends on few important things, such as:
- Area of the function hall
- Prices of construction work in the locality
- Land cost in the area
- Major and minor needs related to luxury in the hall
- Number of floors required
Planning is crucial for constructing a marriage hall. The building construction phase should not be started without a prior estimate.
You can use a step by step calculation guide to estimate the amount of labor and material required during the construction. Few things that need to be analyzed during the estimation include architectural, structural, elevation and other drawings of the building; therefore it is advised to have expert guidance.
How to calculate the cost: The step wise guide
Here we are suggesting you a stepwise approach to find every detail about the cost, material and labor involved in the building construction phase. The below example would be helpful in estimating the construction cost of a marriage hall building, take a look:
- Cost analysis for the area: First of all you need to decide the total area of the building, next you can ask a local contractor to find out the total cost per sq feet. With this information, you can analyze the cost for the marriage hall. For instance, if you are planning to build a 10,000 sq ft hall and the cost per sq ft in your area is 1000 INR then the total cost would be around 1 crore INR.
- Specifications for major and minor needs in the hall: It is difficult to analyze the total cost of your building because the specifications are different for each building. However, you can have an estimate by consulting an expert before selecting the specifications for the type of flooring, type of frames for doors and windows, type of wood for doors and windows, type of material for bathroom and kitchen, type of finishing on exterior walls and a lot more.
- Details of construction material required: The next step is to analyze the cost of the material required for the whole project. From cement bags and sand to bricks, tiles and steel bars, the quantity of each material should be mentioned here in this stage. By deciding the amount, you can estimate the cost of the material required.
- Planning of cost: When you have decided the stage wise requirement of material you should finalize the abstract of cost. Here you can get the item-wise expenditure of material required, or you can analyze the cost depending on its requirement stage, for instance starting from the foundation work to the first floor thenthe second floor and so on.
Apart from the material and labor involved in building construction the design of the building is another factor which may increase the fees of the architecture. Depending on the interior and exterior finishes and the design of the building the cost may change, but don’t worry you can calculate it in advance with the help of experts. Try to find the best consultants and estimate the construction cost easily.