Detailed estimate: A detailed estimate should have documents such as report, specifications, drawings/plans, design charts and schedule of rates. Factors such as, material quantity, transportation of materials, location of site, labour charges, cost of equipment (commonly allowed: - 2% of the estimated cost), overhead charges (commonly allowed: - 2% of the estimated cost), contingencies & unforeseen (commonly allowed:- 4% of the estimated cost) items are needed to consider well while preparing the detailed estimate.
Plinth Area Estimate: Plinth area estimate can be achieved by multiplying the values of plinth length, plinth width & plinth area rate. Here the plinth area is referred as, external plinth area of the building at floor level. Simply it can be also stated as the roof covered area of a building. Plinth area rate is derived by dividing the total cost of a previously constructed building by plinth area of the previously constructed building.
Cube rate estimate: This type of estimate done by multiplying the volume of the building by the unit cubic rate achieved from the previously (also recent) estimate. This type of estimate is a little bit more accurate than above mentioned methods and mostly suitable for multi storied buildings.
Preliminary estimate:It is also called budget, approximate estimate. This type of estimate is prepared in the initial stage of a project. To give a clear idea to the owner (client) about the amount of cost needed for the project and to get the approval from necessary sanctioning bodies.