Types of Estimate Various types of estimates are 1. Rough cost estimate : It is prepared to
decide the financial policy matter. It is prepared
on the basis of practical knowledge and cost of
similar works. The competent sanctioning
authority accords 'Administrative approval'.
2. Plinth area estimate : It is prepared on
the basis of plinth area of a building multiplied by
plinth area rate prevalent in the region. Plinth area
rates are fixed from the cost of similar buildings
constructed in the locality having similar finishing
and amenities.
3. Cubical content estimate : This estimate
is worked out on the basis of the cubical contents
of the proposed building to be constructed and
then applying to it the rate per cubic metre. This is
more accurate than plinth area estimate. The cubic content rates are deduced from the cost of similar
buildings constructed in the same locality. 4. Detailed or Item rate estimate : This
estimate is an accurate one and is based on the
plan and sanctions of the building. The quantity of
items under each sub-head of work are calculated
from the dimensions taken from drawing and then
total cost is worked out in a form called abstract of
cost.
5. Revised estimate : It is also a detailed
estimate and is prepared a fresh when the original
sanctioned detailed estimate exceeds by 10% or
more, either due to the rates being found
insufficient or due to some other reasons.
6. Supplementary estimate : This is a fresh
detailed estimate of the additional work in
addition to the original one and is prepared when
additional work is required to supplement the
original work.
7. Repair and maintenance estimate : In
order to keep the structure, roads etc. in proper
condition annual repairs are carried out annually
for which an estimate is prepared. The estimated
amount should not be more than 1.5% of the
capital cost of the work.