Dear @mgalaxy3,
@basitali87 already mentioned link for general labor based contract.
A turn key contract is entirely different from a labor based contract as it includes all the materials that have to be used during full course of construction. It shall be on an formal stamp paper and shall have following sections;
Terms and Conditions
Shall be very strict terms and conditions w.r.t executions and payment schedules. In case of any poor work or reworking, costs shall be absorbed by Turn Key Contractor.
Payment Schedules
No %age of overall forecasted payment to be given as advance. Only 15-20K PKR amount can be given as mobilization charges. Payment breakup can be in 5 stages each of 20%, and last 20% to be only released when house is ready for handover after killing punch list items. Usually practically there are no refunds, all you need to assure is quality along with progress of project.
Specifications of Items/Materials
This is very sensitive segment of any contract. You need to do your working very carefully, once agreed, later on any change will result in change order and cost hit to you. Try to specify each and every thing w.r.t materials, electrical items specification, wood work materials and specifications, sanitary work materials and specification including fitting, there might be 300 -400 items that can be specified even the quality of nails to type of polis to type of paint to type of door hardware to hood type, hoob type & brand, kitchen work (UV Based or Tactile sheets), built in accessories or not, in short its an sea from A-Z. The more deep dive you will, less trouble you will have as most of disputes comes when house owner insist to go for any specific material later on which is not covered in contract.
General comments:
Construction costs on a turn key basis can go from Rs 2500 to 4500 or even 6000 Rs Per Sq ft, it depends what you demand and what specifications re outlined in contract. e.g. If you simply add Cinema in basement with Dolby Digital 7.1 Surround optical System an 4500 Rs Per Sq Ft Rate will go 5200 Rs Sq Ft, similarly its true if you switch from Master to Grohe and switch from Black Granite to Koreaan or Switch from Local Kitchen accessory to all Well Max items or switch from Ordinary Switches to Phillips Switches, from ordinary breakers to Hager or Terasaki, normal wiring methods to thimble jack based work to under/over voltage relay based protection system so it all depends upon you what heights you wana touch. I hope you got my point. Thanks.
