How to Estimate the Cost of Interior Designing a 1 BHK Flat

Designing a space involves creativity, vision, and also a significant financial liability. This principle is particularly true for homeowners of single one-bedroom-hall-kitchen (1 BHK) flat who wish to renovate or sometimes upgrade the aesthetics of their house. To prevent any unexpected surprises, it is crucial to understand the 1 BHK interior design cost which can depend largely on your preference and requirements. This article will be your guide in predicting the cost of interior designing a 1 BHK flat.

Factors Influencing 1 BHK Interior Design Cost

The cost of interior designing a 1 bhk interior design cost depends on several factors, which can include, but are not necessarily limited to your chosen design’s complexity, the quality of the materials to be used, the type of furniture and accessories you need, and labour charges.

1. Design Complexity: The more complex your chosen design, the higher the cost of the overall project. For instance, creating a minimalistic design may cost you less than a Victorian or Bohemian design because the latter requires more materials and intricate work.
2. Quality of Materials: The use of high-end materials like imported marble, hardwood, or high-quality paints will certainly increase the interior design cost. In contrast, opting for local or lesser-known brands can reduce the cost.
3. Furniture and Accessories: Furnishings that offer comfort and aesthetic appeal play a crucial role in interior design. High-end brands or custom-made designs often cost more than mass-produce furniture.
4. Labour Charges: The cost of hiring qualified professionals, like interior designers and artisans, features significantly in the total project cost.

Approximate Estimation of 1 BHK Interior Design Cost

Here’s a rough breakdown to give you an idea about the potential costs involved:

1. Design and Consultation: Interior designers can charge between 10% to 15% of the overall project cost or a fixed cost, which can range from INR 20,000 to INR 50,000 for a 1 BHK.
2. Materials and Finishing: This cost can vary significantly, from INR 1,00,000 to INR 3,00,000, depending on the chosen materials and their quality.
3. Furniture and Accessories: Depending on your taste and needs, this can amount to INR 1,00,000 to INR 2,50,000 or even more.
4. Labour cost: This includes the charges of carpenters, painters, electricians, which may take up 20% to 25% of the total cost.

Decoding the Impact of Interior Designing on the Income Tax Slab

Understanding the financial implications, including the effect on your income tax slab, of such a large expenditure is crucial. Home renovation or interior designing costs can be claimed as a tax deduction under certain circumstances— for instance, if you are a freelance professional or business owner and use part of your home as an office, the renovation cost for that part might be deductible.

However, specific conditions must be met to take advantage of these tax benefits, and it may differ depending on the regulation of the country or the specific nature of your work.

Additional Info: Downloading the Bajaj Finserv App provides access to convenient financial services. Ensure you review the terms and conditions and confirm your device’s compatibility for an optimal experience.

Conclusion

While calculating the 1 BHK interior design cost, remember that every penny invested in visually appealing and comfortable home interiors is an investment towards a better quality of life. It is important to plan wisely and assess all potential expenditures, including the impact on your income tax slab, before starting on any interior design project. The cost estimation will not only help you organize your budget but also give you a better negotiation standpoint. With an influx of varied interior designers and decorators, a well-planned and budgeted design dream for your 1 BHK flat could just be at the cusp of reality.