Property Development Tip 4: Timeline. House and Land Package: 1-8 Months for Land Registration (if not registered already) 1-3 Months for Plan Approval & Builder’s Quote 3-8 Months for Build Process (lesser for single story, higher for Double story) Approx. Total time: 12 Months Duplex/Multi Unit/Townhouses /Villa Development (Under 5 units) 3-6 Months for Plans and Permit approval (Can be more) 2 months for Builder’s quote /finance Approval 1 -2 month Builder’s Preparation/ Utility connection-disconnection/demolition 8-12 Months for Build Process 2 months for Subdivision/Authority approval/Paper work Approx. Total Time: 16-24 Months Apartment Development (3 story – 5 story) 5-12 Months for Plans and Permit approval 3-4 Months for various consultants/Builder’s quote/Finance Approval 4-8 Months for Project Marketing/ Pre-sale of required stock 12-18 Months for Build Process 2 Months for Subdivision/Authority approval/Paper work Approx. Total Time: 26- 36 Months Above Time lines are for guide only. It can vary subject to Authority Approval, Weather, Finance, Neighbor/Authority objections, Design constraint, Re-sale, Holidays, Material-Labor shortage, etc. Few things to consider while you are in process of property development: Have sufficient cash to fund development for period of above time line Don’t go on property/toys buying spree without consulting your broker/banker. Allow time for F#$% ups , it happens all the time. Be Persistent and don’t give up halfway! Keep in mind –there is a solutions to every problem in world, just have to work out “W” when, where, what, etc! Above all, Enjoy the Process! P.S we haven’t done community development project as yet, but min time lines are around 4-5 Years subject to above conditions and million other things.
