G+2 means 3 level of construction. Each of 580, hence total is 580 x 3 = 1740 sq. ft. of construction.
As you mentioned your budget is about Rs 12 lakhs
hence per sq. ft. budget is 1200000/1740 = Rs 690
Budget is very aggressive if you are planning to do good quality work. Economic & practical construction will require much more budget.
Alternatively, you can wait & raise your budget or construct just G+1 for now
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