NECESSITY OF BUDGETING FOR MULTI STORIED BUILDING CONSTRUCTION

Abstract

India is racing ahead in economic development. The traditional identity of agrarian economy is phasing out and we are enjoying a commendable status in World Trade Organisation. We are being looked up as the representative of Developing Nations. The Government is according top priority for rapid industrialisation. Multi-National Companies are given preferential treatment for setting up their manufacturing facilities in India. Joint Ventures are also appreciably encouraged. All these result in increasing employment opportunities, particularly in urban areas. This necessitates vast movement of people from rural areas to cities. The rental cost in city is prohibitive. The land cost is shooting up and individuals, particularly coming under salaried class, find it impossible to construct independent house. Their economic affordability permits them buy only apartments. The availability of long terms institutional finance is strengthening their decision and accelerating the process of purchase of apartments.