Pune construction costs 2nd highest
A recent study has revealed that Pune is the second most expensive city when it comes to construction cost. The study was conducted by CBRE Research, a well known real estate services and investment firm. CBRE conducted the study in six major cities across the country — Mumbai, Pune, Delhi, Chennai, Bengaluru and Hyderabad. They looked at the cost of constructing different types of buildings. This ranged from midrise apartments, to office spaces, shopping complexes, five-star hotels and heavy industrial structures. Mumbai ranked first in all the categories. Cost of constructing a midrise residential building and an office space worked out to Rs 3,125 per square feet (psf), while a five-star hotel’s building costs could go up to Rs 15,000 psf in the country’s financial hub. Pune and Delhi stood at second place. A midrise residential building in these cities costs Rs 2,750 psf. In Chennai and Bengaluru, which ranked third, the same costs Rs 2,500. Hyderabad was the cheapest of all at Rs 2,375 psf. Similarly, cost of constructing a five-star hotel in Pune and Delhi works out to Rs 13,200 psf, while in Bengaluru and Chennai it is Rs 12,000 psf. Hyderabad is still the cheapest at Rs 11,400 psf.
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