hi
If you are going to spend 40 laks to a new house then it should to
1.Pre contract
Planning, council approval like
2.Post contract
Building the house and services like water, power
3.Furniture
4.Land scaping
so first meet a developer and if you have a land then tell him you are going to build a house with ( ex two bed room, Master bedroom with attached toilet, living room, dinning room,kitchen, tv room ,servants room)
like all your requirements and develop a plan, then meet a qs and prepare a boq . from that you can estimate how much you are going to spend. remember to add 10% for material cost fluctuation.
If that cost suite to you find a good contractor and build if not meet the plan developer and discuss with him to reduce the cost.
Having more open spaces will reduce your cost of building and cost of living.
I think this will help you