Properties in Koramangala turn out profitable to architects
Buying a villa in Koramangala is not just enough for the rich people in Bangalore. Although several villas have come up with an approximate price of Rs 11,000 per square feet, there is not much to be done to give character to those living spaces.What makes Koramangala a hot destination?
The presence of high-end projects in the area is making Koramangala a hot real estate destination. Almost all the houses are done up in a villa’s fashion or there are studio apartments, duplexes and pent houses which do not come under the regular apartment category and requires special designing.
The charges for designers and architects are generally charged at 10 percent of the project cost according to COA (Council of Architecture) rules. For the consultants the entire charge is a profit because it does not require any initial investment except the real estate and logistics cost.
According to experts, property owners are ready to spend anything between Rs 60 lakhs to Rs 70 lakhs to such companies who provide end to end designing and consulting services. However, designing premium houses and villas depends on the type of decor used in setting up the house.
However, for commercial and corporate spaces,the rates start at Rs 1,700 per square feet and can go up to Rs 2,500 per square feet and above. This cost includes cost of data cabling and electric wiring too.
New concept for development in engineering and design consulting are green space designing and designing as per Vastu and Feng Shui principles. The rate for green designing cost go up by 10-20 per cent, long term profits are an added benefit other than being able to live in an environment friendly space.
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