Kerala PWD Price 3 is typically 5–15% lower than the prevailing retail market rate in the same district, because:

This gap is intentional to prevent inflated billing and to encourage competitive bidding.

While exact definitions may vary with each revised SoR (typically updated every 1–3 years), Price 3 generally indicates:

In the context of Kerala Public Works Department (PWD) tenders and contracts, "Price 3" refers to a specific percentage of the Schedule of Rates (SOR). The Kerala PWD uses a tiered pricing system to account for market fluctuations, location accessibility, and work nature.

Kerala PWD publishes a Master Rate List (often in PDF or Excel format on the official website: keralapwd.gov.in → “Schedule of Rates” → “District-wise Material Rates”). To find Price 3 for a specific item:

Example (illustrative only – not current actual):
20 mm aggregate in Thrissur district under Price 3 = ₹1,450/cu.m (excluding GST).

⚠️ Important: These rates are revised annually or biennially. Always refer to the latest SoR (e.g., 2023–24 or 2024–25).