The very first milestone of most new building projects is the approval of the development application (DA) by Council. The DA is a comprehensive collection of documents and reports required for the application to be approved. A Cost Summary Report prepared by a registered Quantity Surveyor may be one of these requirements. If the estimated cost of your development exceeds a limit specified by the council (typically between $500,00 and $3,000,000), they will require a Quantity Surveyor to develop this report to verify the construction cost. The purpose of this report is to enable the council to calculate the authority’s fees, which are payable by developers following the DA submission.
Each council operates differently and may have different names for the same report, other names for this report includes:
- Council QS estimate
- Section 7.12 contribution calculation of construction cost (formerly Section 94 Contribution calculation of construction cost)
- A detailed cost estimate certified by a Quantity Surveyor
- Cost summary report for development
- A Quantity Surveyor’s report attesting to the accuracy of the estimated cost of carrying out development
- Council cost summary report
- Detailed Cost Report prepared by a QS
The cost estimate must comply with section 25J of the EPAA 1979, be prepared by a registered Quantity Surveyor, a member of the Australian Institute of Quantity Surveyors (AIQS), and follow the specific requirements and formatting set by the individual council.