Introduction :
1) An approximate estimate an approximate or rough estimate prepared to obtain the cost of a project in short time.
2) Approximate estimate is required for administrative approval And to study the feasibility of a project.
Whether the new project is beneficial and to study cost - benefit ratio, approximate estimate is necessary.
3) Approximate estimate of any work is prepared for the purpose of information only.
4) It is also called planning estimate and is prepared for the purpose of information only.
Definition - Approximate estimate
Approximate estimate is made to find out an approximate cost in a short time, without taking out actual quantities. This enable the responsible authority to consider the financial aspects of the scheme.
In case commercial projects as irrigation, residential building , and other similar project which earn revenue income, the probable income may be worked out.
Purpose of approximate estimate :-
1) To give rough idea of the probable expenditure.
2) For administrative approvals
3) Investment
4) Financial aspects
5) Tax schedule
6) For valuation and rent fixation
Method of approximate estimate :-
1) Service method
2) plinth area rate method
3) Cubical content method
4) Typical bay method
5) Approximate quantity method
1] Service unit method :-
Each building is constructed to serve some purpose.
For example While preparing approximate estimate by this method per student for hostels, per student for school, per class room for school, per bed for hospital, per seat for cinema halls , per bay for factories , is considered.
Formula : -
# Cost of construction :
Total construction cost / Total no of service unit
Uses of service unit method :
1) Estimate for hospital is prepared on the basis of per bed.
2) Estimate for cinema theater is prepared on the basis of per seat.
3) Estimate for school is prepared on the basis of per student.
4) Estimate for stadium is prepared on the basis of per seat.
Numerical : Based on service unit method
2) Plinth area rate method :-
This estimate is prepared on the basis of plinth area of building.
The rate for unit plinth area is determined from the cost of similar building having similar specifications , height construction and locality.
Plinth area estimate is prepared by finding the plinth area of the building and multiplying by the area rate.
Formula : -
Rate of construction :-
Cost of construction / plinth area
Numerical :-
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