Approximate estimate is also called as preliminary estimate. It is useful for getting administrative approval. For approximate estimate site plan or layout plan is required. The approximate estimate is prepared from the practical knowledge.
Following are the purpose of approximate estimate :
- Approximate estimate gives rough idea of the cost required to complete the building.
- Due to approximate estimate it easy to check the feasibility of the project.
- For government project approximate estimate is required for budget provision and administrative approval.
- When one has to fix the rent for the property it is necessary to know the approximate cost.
- This type of estimate is helpful to fix the tax.
- For existing building if variable has to be done approximate estimate plays the important role.
Approximate estimate is also subdivided into 2 categories such as Rough cost and Rough Quantity. So in this post I am going to show you the both approximate estimate and its importance from start to end.
A. Approximate estimate Cost wise
In this type of Estimate we always try to calculate the cost based on parameters like Room, balcony, Kitchen and more. This estimate represent the Top view dimension of the plan and gives you cost only based on Rate of contractor which including the Profit %.
B. Approximate estimate based on Quantity
This type of an estimate help to calculate the cost and quantity for the construction work as a Rough estimate. Following provided tool will justify its use. Its a tentative work which will help you to prepare the estimate for Home loan also.