The NSW Government has introduced a new way to estimate development costs. The reforms apply from 4 March 2024. Projects over 3 million will require an ‘estimated development cost’ EDC report to be prepared by an appropriately qualified quantity surveyor who is a member of a relevant professional body, such as the Australian Institute of Quantity Surveyors (AIQS) or Royal Institution of Chartered Surveyors (RICS).
The NSW Government's new simplified and transparent way to estimate development cost was in response to the Independent Commission Against Corruption’s Operation Dasha report, which recommended more transparency in reporting to reduce the risk of corruption.
The "Capital Investment Value" and "Cost of Development" now will be replaced with a new single calculation method for the “estimated development cost” EDC, this method will be used across the planning system in the calculation of fees in connection with planning applications, and development application.
We provide fast and affordable EDC report for NSW Councils, and estimated development cost for building approval formally section 94. We are focused on providing the best service possible. You will not only receive the best construction cost advice but also an understanding of the development application process. We ensure that you receive a rapid response to your request, for more information see our Section 94 website S94.com.au. We have been providing Section 94 reports to building professionals and individuals, we are certified to prepare Section 94 as required by local councils. CONTACT US
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