brother ,
i happen to be your neighbor , so i exactly know the market since family is in construction business .
to help you set the right price , i can make a feasibility for you right here .
currently , builders have a trend here that they pick up 250 yds 500 yrds plots and then they sell seperate untis on sublease .
3 units for 75 lacs each on a 250 yd . and 4 units on a 500 yd plot .
for 250 yd plot , the total revenue earned is , 75 lac x 3 = 225 lac .
less construction cost @ 1600 /sqft = approx 1 crore +
less cost of land , which is no where above 1 crore .
remaining 25 lac is their profit . recovered in 6 months time . ( 30 % ) per year of investment is the current rate of the market )
for a 500 yd plot , we do not get a ground +2 floor approval .
so we can only build 4 units here , but as the font is bigger more airy , view is good , per unit price would be higher at your plot , around 85 lac / unit .
so total revenue earned from your plot is 85 x 4 = 340 lacs
less construction cost @ 1600 sqft = 150 lac
less 15 % profit for 6 month tenure = 50 lac
the remaining is the cost of land , i . e = 140 lac .
now for every million a builder increases above 140 lac , he is reducing his take .
the maximum any builder would do is pick up profit 40 lac , and give you 150 lac .
so you can better understand now , that thinking of above 150 , is actually not a realistic idea.
let me know if any confusion come to you . Take care.