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Which of the following statements is/are with respect to rates in the building estimation? A) The rates for building estimation are usually taken from PWD schedule of rates, with appropriate escalation charges. B) Rates for different items in the estimate are the current rates for the completion of the items of work.

Which of the following statements is/are with respect to rates in the building estimation? A) The rates for building estimation are usually taken from PWD schedule of rates, with appropriate escalation charges. B) Rates for different items in the estimate are the current rates for the completion of the items of work. Correct Answer Both the statements are true.

Explanation:

Schedule of rates:

  • A document containing a detailed description of all the items of work (but their quantities are not mentioned) together with their current rates is called schedule of rates.
  • These usually include general conditions, general specifications, items of different works, data for transportation, materials, and labor, method of rate analysis, plant rate analysis, and basic unit rate analysis.
  • It is prepared by PWD and CPWD.

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