Like the price hike in every other item, there has been a continuous and fast rise in the cost of building materials, which in-turn has elevated the total labor and per square construction rate in Pakistan. This year, you can observe a considerable difference in the overall rates of construction sector as compared to the previous year. This comparison includes the cost of building materials, labor cost as well as the overall cost of construction.
The rapid increase in construction activity is considered the biggest driving force behind soaring total building costs across the country. Throughout Pakistan, especially in the more developed cities like Karachi, Lahore, and Islamabad, you will see many construction projects in progress on a larger scale. Most visible are the large-scale residential housing communities that are being built on the outskirts of major urban centres, such as in Lahore’s Raiwind, Bedian, and Burki areas. Taking this fast-paced construction work into view, the manufacturers have raised the prices of building materials by a large margin. Before planning to construct a residential or commercial building, you must be aware of the approximate cost of construction materials as it would help you drawing a rough estimation of the total charges. While taking a personal round of your nearby market, you should also consult a modern architect in Pakistan.
Let us take a closer look at the type of construction materials commonly-used in Pakistan:
In first quarter of year 2014, there has been a tremendous price rise in the rate of cement, which in return has upraised the overall cost of construction. The rate of a 50kg bag of cement was raised by Rs. 5 to 10.
Surprisingly, one of the costliest construction materials are bricks. There has been a rise of 7.59% in the price as compared to the last year’s rate.
Sand prices vary according to their types and quality. For instance, the cost of Chenab River sand usually costs far more than that of Ravi River sand.
In the span of one year, there has been a Rs.5 per kg increase in the cost of reinforcing bars (also known as rebar) in all the major cities. Even a rupee’s increase makes a massive difference in the total construction cost – especially when you are buying material in tons.
Other than estimating the cost of construction materials, you should also have knowledge of current labor cost of your local market. The overall construction cost per square ft. is divided into two categories – the one is grey structure construction cost and the other is turnkey construction cost which includes complete construction work.
By hiring the services of a top construction company in Pakistan, you can get a better idea about the approximate prices of building materials and overall labor costs.