Contact local builders and contractors and ask what the average cost per square

Question

Contact local builders and contractors and ask what the average cost per square foot is to build a residence such as you currently occupy. With those figures and what you know about location, location, location, try to estimate the value of your home by measuring it and multiplying the square footage you come up with by those figures. Contact local builders and contractors and ask what the average cost per square foot is to build a residence such as you currently occupy. With those figures and what you know about location, location, location, try to estimate the value of your home by measuring it and multiplying the square footage you come up with by those figures.

Explanation / Answer

I live in a 3 BHK apartment of 1650 sq feet in a upper middle class area. The average rate per square feet is Rs 3300 to Rs 3800 of that area depending upon the society in which the flat is located.

In my society the cost is Rs 3550 per sq ft.

Value of flat= 1650*3550

= Rs 58.57 lacs.

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