Low Cost Housing is a new concept which deals with effective budgeting and following of techniques which help in reducing the cost construction through the use of locally available materials along with improved skills and technology without sacrificing the strength, performance and life of the structure.There is huge misconception that low cost housing is suitable for only sub standard works and they are constructed by utilizing cheap building materials of low quality.The fact is that Low cost housing is done by proper management of resources.Economy is also achieved by postponing finishing works or implementing them in phases.
The building construction cost can be divided into two parts namely:
Building material cost : 65 to 70 %
Labour cost : 65 to 70 %
Now in low cost housing, building material cost is less because we make use of the locally available materials and also the labour cost can be reduced by properly making the time schedule of our work. Cost of reduction is achieved by selection of more efficient material or by an improved design.