Study On the Feasibility Systems for the Construction of a Luxury Housings
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2016, Vol 4, Issue 4
Abstract
The economic development in India has been increasing in recent years. In the late 2000s, India's growth reached 7.5%, which had double the average income in a decade because of the boom of IT, telecommunication, and automobile industry. In India, land is a major constraint. In order reduce the constraint, buildings like apartments are constructed. The incremental demand for hi-end technology and high standard living calls in Luxury Apartments as a solution. Luxury apartments are basically which contains all the modern amenities present inside the apartments and the luxury brands used for specification which are not present in conventional apartments. Luxury also includes the location of the site. In this project, the feasibility study helps to narrow the scope of the project to identify the best scenario. Market feasibility is done to access the market size of the location and calculating the target group definition. Technical feasibility is basically analyzing the specification brands. Financial feasibility is calculated to check the profitability & viability of the project. Finally, Environmental feasibility is done by evaluating the building with The LEED India Green Building Rating System. The paper concludes that the proposed project was found to be feasible by the market, technical, financial, environmental feasibility. It also depends that the proposed project will be profitable provided the execution of the project does not exceed the timeline, minimum wastage of resources, no compromise in quality & minimal cost escalation.
Authors and Affiliations
S. Binil Sundar, S. Swathy
Keywords
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