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Plan a low-cost home construction with affordable materials and efficient building techniques, like building with a load-bearing structure. Explore government schemes that offer subsidies and financial support.
Owning a home is a dream for many, but often, the budget can be a major hurdle. However, with a smart and economical approach, it's entirely possible to build a house that fits within your budget.
Low-cost home construction in India involves building structures with affordable home builders. They use readily available building materials and techniques to minimise the cost. Additionally, government schemes like Pradhan Mantri Awas Yojana (PMAY) provide subsidies and lower interest rates on home loans, helping low-income families own homes.
From planning to building, here are some simple approaches to constructing your house on a budget and keeping costs low:
Hire an Experienced Contractor
Team up with a trusted contractor who will plan the building construction structure according to your budget. Many people are involved in creating the structural design and executing it. Choosing the right people for the job ensures your home is built on time, within budget, and using affordable methods.
Opt for a Pre-approved Home Loan
Once you estimate your budget, compare it with your savings. If additional funds are required, a pre-approved home loan can be a suitable option. This type of loan may be offered to you based on your credit profile and provides clarity on eligible loan amounts. Estimate the EMIs to have a clear understanding of your spending.
Go for Government Schemes
The government of India has developed inexpensive housing schemes for economically weaker sections. The aim of the schemes is to build houses for everyone. You can check the eligibility for the schemes to get financial help from it financially.
Explore some low-cost house construction techniques for creating homes that are both budget-friendly and durable:
Use High Quality, Cost-effective Materials
Use prefabricated materials to build faster and cut costs. Factories make walls, floors, roofs, doors, and windows in advance that workers can then assemble on-site. This boosts quality, reduces waste, and lowers labour costs.
Use Affordable Building Materials
Choose budget-friendly materials like bamboo, compressed earth bricks, and fly ash hollow bricks to reduce construction costs. Compare prices, check quality, and consult vendors before making a decision. Use a cost estimator or an online construction cost calculator to get a clear estimate of your expenses.
Use Autoclaved Aerated Concrete Blocks (AAC blocks) for the basement and division walls. They are lightweight, so it will reduce the cost of Reinforced Cement Concrete (RCC). AAC blocks are also soundproof and provide natural insulation against heat and cold.
Build with a Load-bearing Structure
Reduce costs by using a structure that transfers the building’s weight through its walls to the floor. This procedure removes the need for extra beams and columns, making low-cost construction faster and more affordable. You can use this technique for homes with up to two floors to save time and money.
Choose the Right Property
Select a property that fits your budget and your future lifestyle. Before you buy a land, check its potential for growth and value appreciation. If you ever plan to sell the property in future, you should be able to profit from it.
Also, set a clear budget for both the land and construction. Make sure the location has good facilities, easy road access, and essential services nearby.
Low-budget home construction requires smart construction methods that balance cost, efficiency, and quality. Using cost-effective construction techniques is significant, as it can provide the following benefits:
Affordability: Makes homeownership possible for those with limited budgets by reducing costs
Sustainability: Uses local materials, lowering negative impacts on the environment
Fast Construction: Methods like prefabrication and modular building speed up the process
Here are some housing schemes in India to get financial help to build your house:
Pradhan Mantri Awas Yojana (Urban) (PMAY)
Through this scheme, the government aims to build 2 Crore houses for the homeless by 2024. The main focus of the scheme is on low-income groups, minorities, and widows. The scheme also provides subsidies and lower interest rates on home loans, making homeownership more affordable.
Pradhan Mantri Gramin Awas Yojana (PMGAY)
The scheme provides financial support of up to ₹1.2 Lakhs for rural poor to build houses. PMGAY offers assistance on home loans for building a house or purchasing one.
Rajiv Awas Yojana (RAY)
This scheme was launched in 2009 with the aim of making cities slum-free. It offers legal housing alternatives for slum residents.
Delhi Development Authority (DDA) Housing Scheme
Through this scheme, the government offers affordable flats in Delhi at low prices for eligible applicants. To apply for this scheme, you need to fill out an online application and complete the verification process.
Tamil Nadu Housing Board Schemes
With this, you can get affordable houses, if you are a resident of Tamil Nadu. To get the benefits of the scheme, you have to be a salaried individual who has not applied under any other housing scheme.
Maharashtra Housing and Area Development Authority (MHADA) Lottery Scheme
The MHADA Lottery Scheme offers residential properties through a lottery system. To benefit from the scheme, you must be a resident of Maharashtra.
NTR Housing Scheme
This scheme, introduced in 2016, is designed for residents of Andhra Pradesh with the goal of providing homes in both rural and urban areas. To be eligible, you must be a Below Poverty Line (BPL) cardholder and should not own property under any other housing scheme.
The safety depends on the material you choose and which scheme you are getting. Consider the following points to ensure a durable and safe construction:
Strong Structure: Build with a solid foundation and sturdy frames to handle wind, earthquakes, and bad weather
Good Materials: Use affordable but durable materials like cement, concrete, steel, and certified timber
Follow Safety Rules: Stick to building codes for safe design, fire protection, and electrical and plumbing work
With a solid plan in place, you can stay within budget without compromising on quality. If you are considering a housing loan, make sure to choose a reliable lender who offers competitive rates.
On Bajaj Markets, you can explore home loan options from a range of lenders offering competitive loan terms. Compare the options and choose the best option as per your requirements and preferences.
When building a house, the cost of materials is typically the highest, followed by labour. If you buy land first and then start construction, the land itself could become the most expensive part. However, all costs are ultimately influenced by the location.
The first and most important step in building a house is choosing the right site and designing a strong foundation based on the soil type. This ensures the house remains stable and durable over time.
The location of the construction directly impacts the cost. Labour and material prices are typically higher in upscale areas than in rural regions.
The cost depends heavily on factors such as the area, size, materials, labour, and design complexity. However, you can expect the cost to range from ₹10 Lakhs to ₹1 Crore.
Micro houses, tiny houses, and prefabricated structures can be the cheapest options for houses. Keeping the design simple and using easily available materials can further reduce costs.
Techniques like prefabrication, modular construction, and smart space usage work well in crowded cities. It helps in a low-budget house construction, saves space and speeds up the process of building.
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