Construction cost in Mumbai highest among metro cities: JLL

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India’s financial capital Mumbai has the highest construction costs, which on average is 10% higher than other metros, according to an analysis by ‘Construction Cost Guide Book’ launched by JLL.

The higher costs in Mumbai are largely attributable to corresponding higher prices of key construction materials like cement, reinforcement steel, structural steel, stones.

Hyderabad and Chennai have the lowest average construction costs where costs are about 14% lesser than Mumbai.

“Going ahead, we see cost as one of the key drivers in real estate decisions. Many firms today are relooking at their real estate choices to optimise spend,” said MV Harish, Managing Director, PDS, JLL India.

The average cost of construction for a luxury residential apartment in a high-rise building in Mumbai is Rs 5,625 per sq. ft, while in Delhi and Pune, the price would be Rs 4,950/sq. ft and Rs 4,905 respectively.

In Hyderabad such a house would command Rs 4,275/sq. ft.

Similarly, constructing a mid-rise luxury apartment will cost Rs 3,875/ sq. ft in Mumbai and Rs 3,410/ sq. ft in Delhi.