Tiny house construction costs are rising, with new estimates showing the cost of building a new one could be as high as Rs. 4,200 per square metre (sq ft).
These costs are expected to rise further, with more new and existing small homes to be built by 2021, according to an analysis by a research company, Tinyhouse India.
“The cost of the new building will go up by Rs. 7,000 per sq ft,” said the report.
It noted that existing structures are already at a premium as there are limited space for a small house.
The report estimated the new construction costs for a single-family house at Rs. 2,500 per sqft, which was based on the new average price of Rs. 1,100 per sq foot per month.
The new construction cost for a two-bedroom home would be Rs. 3,500 to Rs. 5,000.
“There are very few existing structures to begin with, and there is a huge demand for new structures and a growing number of small homes,” the report said.
The number of existing small houses will also increase significantly, and this is not good for our society,” it added. “
New construction will be very expensive in terms of labor and materials.
The number of existing small houses will also increase significantly, and this is not good for our society,” it added.
The survey, conducted by Tinyhouse and the Centre for Small Homes, was based mainly on information provided by the Government of India, the report found.
The Government of National Capital Territory of Delhi has set a target of building 5 lakh small homes by 2021 and by 2022, it expects to have completed a whopping 2.4 lakh homes.