Initial Planning & Research
- Define Development Goals: Clarify the purpose, vision, and objectives of the development.
- Feasibility Study: Conduct a financial, technical, and market feasibility analysis.
- Location Assessment: Identify and evaluate potential sites based on accessibility, zoning regulations, and future development potential.
Site Acquisition & Due Diligence
- Legal Check: Confirm property title and ownership. Check for encumbrances or disputes.
- Zoning and Land Use: Verify local zoning laws, land use restrictions, and development guidelines.
- Environmental Assessment: Conduct an environmental impact assessment and review potential issues.
- Survey & Land Measurements: Arrange for accurate site surveys, including boundary and topographical surveys.
Financial Planning
- Cost Estimation: Calculate land costs, construction costs, and other assocciated costs.
- Funding Plan: Secure funding or financing options for the development.
- Financial Projections: Prepare financial models for cash flow, profitability, and ROI analysis.
- Contingency Budget: Allocate a budget for unexpected expenses and risks.
Design & Approvals
- Architectural Design: Appoint architects and prepare initial design sketches or plans.
- Engineering & Structural Design: Get engineering designs approved, including electrical, plumbing, and structural plans.
- Permit & Approvals: Obtain necessary permits and approvals from local authorities.
- Consultant Team: Assemble a team of consultants (e.g. planners, surveyors, engineers).
Project Planning & Execution
- Construction Plan: Develop a detailed construction schedule with clear milestones.
- Contractor Selection: Identify and hire a qualified contractor or construction firm.
- Vendor and Supplier Contracts: Negotiate contracts with key suppliers for materials and services.
- Health and Safety Plan: Establish safety protocols and site management plans.
Project Management & Oversight
- Regular Site Inspections: Conduct regular site visits and quality inspections.
- Progress Monitoring: Track project progress against milestones and schedules.
- Change Management: Manage and document any design or scope changes.
- Cost Control: Monitor expenses and compare them against the initial budget.
Marketing & Sales
- Marketing Strategy: Develop a marketing strategy for promoting the property.
- Pricing & Valuation: Set competitive pricing and validate the property’s market value.
- Sales Campaign: Launch sales and advertising campaigns.
- Sales Documentation: Prepare and distribute legal documents such as sales agreements, disclosures, and warranties.
Completion & Handover
- Final Inspections: Conduct a final walk-through and inspections for quality checks.
- Obtain Completion Certificates: Acquire occupancy and completion certifications from authorities.
- Snagging & Defects Rectifications: Identify and fix any remaining issues or defects.
- Handover to Buyers: Provide buyers with keys and any essential documentation.
Post Completion Activities
- Property Management Plan: Set up property management services if required.
- Customer Service & Support: Establish a support system for post-sale customer inquiries.
- Performance Evaluation: Review and document the project’s performance, lessons learned, and key takeaways.