A good Contractor will give you suggestions about where you can save money and still get your house renovated in a economic way. You can work with a contractor and decide if you wish to spend more money and choose to get higher quality material and expensive furnishing.
Depending upon what option you choose in materials you will end up spending 500-1000750-1250 rupees per Sq. Ft. A typical house in prime city like Delhi NCR(or any big and medium city across country) is 500750 Sq. ft. in area.
Deluxe Home renovation estimate in Delhi NCR
up to 10001500 rupees/ Sq. Ft.
1 BHK(500 Sq. Ft.) = 57.5 Lakhs
So depending upon what level of amenities and interior you choose you will end up spending anywhere between 2.53.75 Lakhs to 57.5 Lakhs in your 1 bedroom hall Kitchen.
Some of the example where a House owner gets to choose better material or interior are:
Sanitary & bathroom equipments etc.
So economic Home renovation starts at at the range of 2.53.75 lakhs and can go upto 57.5 Lakhs if we choose to have deluxe features inside our house.
All above figures are rough numbers. When you start working with Contractors you will know the actual figure. A good Contractor will make you aware that even after giving a Final estimate or quotation sometimes material prices go up or down or you end up buying a different product for some reason, hence a home owner should always be prepared for 5-10% plus or minus in the estimates.