Estimated Development Cost Report
The NSW Government has remodelled the method for estimating development costs, aiming to simplify and increase transparency. Our reports are already compliant to the new legislation and we are ready to assist you navigate these changes.
Expert EDC Reporting Services by Archi-QS
Effective March 4th, 2024, the NSW Department of Planning mandates that development applications with an Estimated Development Cost (EDC) exceeding $3 million must be accompanied by an EDC report. At Archi-QS, we are proud to offer our expertise in preparing these vital reports, ensuring compliance with the latest regulations set forth by the NSW Department of Planning.
Understanding the Estimated Development Cost (EDC)
The Estimated Development Cost (EDC) serves a crucial role in the planning process, impacting various aspects including development approval pathways, assessment fees calculation, and certain requirements for Development Applications (DA), encompassing State Significant Developments (SSD), State Significant Infrastructure (SSI), as well as regional and local authorities.
Definition as per Environmental Planning & Assessment (EP&A) Regulation
According to the EP&A Regulation, the Estimated Development Cost (EDC) of a proposed development encompasses the estimated expenses associated with:
- The design and erection of a building and associated infrastructure
- The execution of works
- The demolition of a building or works
- Fixed or mobile plant and equipment
However, it’s crucial to note that certain elements are excluded from the EDC calculation. These exclusions comprise:
- Amounts payable, or costs of land dedication, or other benefits provided under conditions imposed under the EP&A Act, Division 7.1 or 7.2, or a planning agreement
- Costs relating to a separate part of the development or project that is under a distinct development consent or approval
- Land costs, including expenses related to marketing and selling land
- Costs associated with ongoing maintenance or use of the development
- Goods and Services Tax (GST)
Compliance With Regulations
It is essential for all stakeholders involved in development projects to adhere to these regulations regarding EDC reporting. Failure to comply may result in delays or complications in the approval process.
Why Choose Archi-QS for Your EDC Reporting Needs?
- Qualified Professionals: Our team comprises qualified quantity surveyors who are members of reputable professional bodies such as AIQS. With their expertise and accreditation, you can trust us to deliver accurate and compliant EDC reports tailored to your project’s specifications.
- In-depth Understanding: We possess a comprehensive understanding of the Environmental Planning & Assessment (EP&A) Regulation and its requirements concerning EDC calculations. This enables us to provide precise estimations while adhering to regulatory standards.
- Tailored Solutions: Each development project is unique, and our approach reflects this. We work closely with clients to understand their specific requirements and deliver customised EDC reports that align with their objectives.
- Compliance Assurance: With Archi-QS, you can rest assured that your EDC reports will meet all regulatory requirements outlined by the NSW Department of Planning. We meticulously follow guidelines and ensure accuracy and compliance throughout the reporting process.
- Streamlined Process: We understand the importance of efficiency in the development approval process. Our streamlined approach to EDC reporting minimises delays and ensures timely submission of reports to facilitate smoother project progression.
Get in Touch Today
Whether you’re a developer, planner, or stakeholder involved in a development project, Archi-QS is here to assist you with your EDC reporting needs. Contact us today to learn more about our services and how we can support your project’s success. Let us be your trusted partner in navigating the complexities of EDC reporting and ensuring regulatory compliance every step of the way.