Real estate development project feasibility study report

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1. Project background

1. Project name: Residential Community (tentative Name)

2. Basis for the preparation of the feasibility study report:

(1) "Code for Planning and Design of Urban Residential Areas"

(2) "City A Urban Demolition Management Regulations"

(3) "Regulations on the Setting up of Public Service Facilities in Urban Residential Areas"

(4) "Residential Design Code"

(5) "Residential Building Design Standards"

(6) "Construction Engineering Traffic Design and Parking Lot Setting Standards"

(7) "Urban Road Greening Planning and Design Specifications"

(8) "Code for Fire Protection Design of High-Rise Civil Buildings"

3. Project Overview

1) Location of the plot: The base starts from the east and ends at the road in the south. The land area in the enclosed area is about square meters, bounded by the road to the west and to the north. The land belongs to the A city category.

2) Construction scale and goals:

Land area: acres (square meters)

Floor area ratio:

Development cycle:

Land price: Yuan/mu (starting price for state-owned land use rights in City A) Construction area (estimated): Total construction area: ㎡

3) Surrounding environment and facilities

(1) It takes about 10 minutes to walk to downtown A.

(2) On the west side are the city’s central attractions.

(3) The east side is the urban green belt, and the south side is the square.

(4) The southwest is close to the primary school of City A.

(5) To the north is the People’s Bank of City A.

4. Project SWOT analysis

Advantages and opportunities

(1) The project is located in the area with the most development potential in City A, and the surrounding environment will change in the near future. It will be the best living area in the future.

(2) A The pace of economic development and municipal construction in recent years has given the real estate in this area a large room for appreciation.

(3) The successful development of the east side has provided market recognition for the housing price positioning of the area.

(4) The increasingly mature residential facilities and the gradual formation of commercial atmosphere in Zhoupan have laid a certain foundation for the store prices of this project.

(5) A large proportion of demolished local residents choose to relocate back on site, which will alleviate the project’s capital flow pressure to a certain extent.

(6) The project is sold as gross land with a starting price of RMB/mu, which makes the initial capital required to acquire the land less.

(7) This project is planned to be the first small high-rise residential community in City A. Our company’s experience in developing small high-rise buildings in City B can be used as a reference.

(8) Our company’s good public relations background with the government and construction authorities of City A will be beneficial to our company’s future development in the local area.

(9) The property management company’s early intervention in City A will provide certain complementary advantages for the future property management of the project.

(10) The difficulty of demolition has caused financial concerns from other places, which created certain opportunities for us to succeed in this bidding.

Disadvantages and threats

(11) The demolition density is too high, and the cost and risk of demolition are the key to the success of the project.

(12) The detailed implementation rules for demolition in City A are about to be released, and the prediction of demolition costs has certain risks.

(13) Due to the uncertainty of standards for the demolition and construction of municipal facilities, the cost calculation has a certain degree of uncertainty.

(14) The intervention of external funds may raise the listing price of land too high.

(15) There is a certain degree of uncertainty regarding the residential land positioning of the plot in the plan and whether future commercial plans will be approved.

(16) The formation of the concept of living in small high-rise buildings, property management fees, elevator operation and maintenance, etc. will bring certain resistance to future sales.

(17) Most of the residents in this land are being demolished for the second time, and the demolition is more difficult.

(18) As the garden becomes more and more perfect and it is a multi-story residential building, the competition with this project will be fierce.

(19) The difficulty of demolition makes it possible to delay the construction period of the project.

(20) Zhouben’s supporting facilities and transportation are not perfect enough.

2. Market Analysis

1 Overview of City A (Reference)

City A is located on the south bank of the Henan River, with an area of ????square kilometers and a population of 10,000.

The ecological environment is excellent. There are national forest parks, national wildlife reserves, and national waterfowl wetland reserves within the territory. The city's forest coverage rate reaches 56%. In 1996 and 1997, it was approved by the state as a national ecological economic demonstration zone and a local pilot for the implementation of "China Agenda 21".

The investment environment is good. Transportation and communications are convenient. Highways have formed a transportation network with national highways, provincial highways and roads along the river as the skeleton; water transportation uses Port A, an important port on the main stream of the Yangtze River, as the hub. It has a national port open to the outside world and has an annual designed throughput capacity of 5 million tons. , the first phase of the Nizhou New Port Area of ??Port A has started; communications have formed a variety of communication methods and a multi-functional communication service network based on digital transmission and program-controlled exchange.

The project area is located on the south bank of the middle and lower reaches of the river, bordering City B, and is the political, economic and cultural center of City A. The district has a total area of ??2,516 square kilometers, a population of 620,000, and jurisdiction over 8 townships, 13 towns, and 4 sub-district offices. The urban population is 120,000.

2 Analysis of the real estate and residential market in City A

The real estate industry in City A has roughly gone through three stages from its inception to its development: the first stage was from 1988 to 1993, with the housing system Agency construction is the main method, most of the houses built are for welfare purposes, the commercialization rate is low, and the real estate industry is in its infancy. The second stage was from 1994 to 1998, when the agency construction behavior gradually disappeared and the development of commercial housing gradually emerged. The period from 1999 to present has been the development and standardization stage of the real estate industry. Starting from the reconstruction of the old city at the south gate of the city? Two Points and One Line? and the development of Xiyuan Community, a new round of urban construction climax was set off. Especially after the land-to-city transformation, the pace of urban infrastructure construction accelerated, the population and scale of urban built-up areas expanded rapidly, urban construction and real estate development interacted positively, and the real estate market entered a period of orderly development. So far, the real estate industry in City A has basically achieved its entrepreneurial tasks and completed primitive accumulation. The quality of residents' housing has been significantly improved, the industrial structure has become more reasonable, and the market system has been basically established.

In 2003, the main characteristics of the real estate industry in City A were as follows:

One of the characteristics: large investment growth. The investment in real estate development was 460 million yuan, with an investment increase of 33.4%, accounting for 65% of the city’s construction system investment and 12.6% of the city’s fixed asset investment.

Performance 2: Both supply and sales in the market are booming. The area of ??completed commercial housing in the main urban area is 200,400 square meters, the sales area is 220,400 square meters, and the vacant housing area is 20,000 square meters. The per capita housing construction area in the city has reached 26 square meters.

Performance No. 3: House prices are rising steadily. The price of commercial housing in urban areas increased by 17% compared with last year, with a net increase of about 400 yuan/m2.

Performance No. 4: The trading market continues to heat up.

The city handled 11,200 real estate transactions of various types throughout the year. City A *** handled 7,938 real estate transactions of various types, with an area of ??896,200 m2, an increase of 25 and 35% respectively over the previous year. Among them, there were 2,305 transactions of existing houses, with an area of ??244,000 m2, and a transaction amount of 88 million yuan.

Performance No. 5: Significant economic effects. The added value of the real estate industry accounts for 14% of the city's GDP added value, driving the output value of related industries to 887 million yuan, and driving social commodity sales to 616 million yuan; the real estate industry paid 28 million yuan in national taxes.

Forecast of the future market:

---? From the perspective of house purchasing ability

With economic growth, the disposable income of urban residents has increased year by year. In 2001 By 2003, the disposable income of urban residents increased from 5,222 yuan to 6,028 yuan. Despite the large increase in housing prices last year, the consumer market remains booming.

? From an investment perspective

Due to the long-term downturn in the stock market, bank interest rates have been lowered many times, and the real estate industry has significant functions of preserving and adding value, making the real estate market an important area for investment. Coupled with the support of bank credit, market demand has been greatly stimulated. Currently, the proportion of commercial housing purchased through mortgage loans is 42%, with an annual increase of 16%.

? From the perspective of consumption structure

With the development of the real estate market, residents’ housing consumption concepts have undergone significant changes. People are no longer satisfied with the traditional concept of "living enough", and the demand for improved housing is obvious. Housing consumption is changing from "residence-oriented" to "enjoyment-oriented". The consumer groups of second and third home buyers are gradually expanding. According to the survey, more than 95 households in the first phase of Huijing Garden purchased houses through housing renovation.

? From the perspective of demand relationship

According to the city’s master plan, the urban area will develop from 14.6 square kilometers to 27.8 square kilometers, and the urban population will increase from 120,000 to 300,000. Without considering effective purchasing power, based on the analysis of housing demand alone, the housing demand driven by the annual population growth of City A, coupled with the purchase demand of the urban migrant population and urban demolition needs, will provide broad development space for the real estate industry.

3. Analysis of main competitive projects

The details of the residential community are as follows:

Number of project units, building area (10,000㎡), average unit price (yuan/㎡), location

Xiangyang Community 1500 22 1400 Baoshan Road

Xinhua Community 785 8 1344 Huanghe Street

Yinhe Community 170 1460 Yinhe Street

Chengguang Community 130 1400 Xueyuan Road

Taiyangshen Community 500 6.9 1508 Yingxiong Road

Details of some commercial outlets

Project area ㎡ Unit price yuan/㎡ Location

Huifeng Garden 40~~80 4000~5600 New Town

Qiushuang Garden 50~~70 5000~12000 City Center

Biyuan Community 36~~50 6800 Construction Road

Taoyuan Community Garage 550 Qiupu Road

Hehua Village Garage 550 Jianshe Road

3. Project Financial Analysis

(1) , Demolition cost analysis

The houses in the enclosed area are all brick-concrete structures, including four 5-story residential buildings (the second experimental primary school employee building has 40 households, and the fourth construction company employee residence building has 16 households,

The demolition company demolished one resettlement house for 30 households). Other houses are two to four stories.

According to the pictures attached to the listing document and on-site verification, the area of ??houses to be demolished in the enclosed area is: 34,329 square meters of residential buildings and 600 square meters of commercial buildings, with a total of about 205 households. Most of the residents were relocated from urban houses to this health facility. Households over 90 years old all have land certificates, planning and construction certificates, house property rights certificates, and single-family water and electricity meters. Have some experience in house demolition.

Demolition cost estimation:

In accordance with the provisions of City A's "Urban House Demolition Management Measures" and the demolition compensation assessment report.

1. Residential housing: 640 yuan/square meter*(0.9 0.3 0.08 0)*34329 square meters=34329*819.20 yuan=28122316.80 yuan

2. Commercial housing: 640 Yuan/square meter*(0.9 1.5 0.3 0.45 2.7)*600 square meters=600 square meters*3776 yuan/square meter=2265600 yuan

3. Appurtenances (water, electricity, telephone, air conditioning and above, others )

Residence 34,329 square meters * 45 yuan / square meter = 1,544,805 yuan

Commercial housing: 600 square meters * 45 yuan / square meter = 27,000 yuan

4. Interior decoration: 34929 square meters * 80 yuan / square meter = 2794320 yuan

5. Attic, walled courtyard floor, etc.:

34929 square meters * 48 yuan = 1,676,592 yuan

6. Moving expenses, temporary transition fees, etc.:

1). Moving expenses:

Residence: 200 households * 300 yuan = 60,000 yuan

Commercial housing: 9 households * 500 yuan = 4,500 yuan

Subtotal: 64,500 yuan

2), transition fee:

Residential: 34,329 square meters * 2.5 yuan/square meter * 6 months = 514,935 yuan

Commercial housing: 600 square meters * 16 yuan/square meter * 6 months = 57,600 yuan

Subtotal: 632535 ??yuan

Other expenses

3), management fees, entrusted demolition fees:

34929 square meters*15 yuan/square meter Meter = 523,935 yuan

4), House demolition assessment service fee: 35,000 yuan

5) Reward:

34,929 square meters*100 yuan/square meter Meters = 3,492,900 yuan

The subtotal of all the above expenses is: 38,533,208 yuan, which is equivalent to the compensation amount of 1,103.18 yuan per square meter.

According to the order of the People's Government of City A, the demolition of houses in the urban area of ??City A can still be implemented in the first half of 2003. The "Measures for the Administration of Urban House Demolition" will be implemented on July 1, 2003. back. Urban house demolition in City A is fraught with difficulties. In particular, the national urban house demolition policy favors the people being demolished, and judicial compulsory demolition has basically stopped.

1103.18 yuan/square meter 100 yuan/square meter=1203.18 square meters

1203.18 yuan*34929 square meters=42025874.2 yuan

(2) Construction cost analysis

A preliminary planning plan has been made for the construction scale of this parcel of land. Two two-story outlets will be built along Donghu Road, covering an area of ??50*10*2=1000㎡ and a construction area of ??2000㎡. .

The main entrance is located between the two outlets on Donghu Road, and the secondary entrance is located next to the bridge on the road near the community.

A two-story podium is built along Jianshe East Road. The form is basically the same as the S small high-rise. Three 12-story residential buildings are built on the podium. The podium covers an area of ??110*15*2=3300㎡. The building area of ??the three 12-story residential buildings is: 29.4* 13.8*12 floors*3 buildings=14606㎡, total construction area: 17906㎡.

The general layout of the plot

A 15-story building with 29.4*13.8*15 floors;

A 12-story building with 29.4*13.8*12 floors;

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Three buildings with 12 floors and 40*15*12 floors;

One building with 15 floors and 40*15*15 floors;

Coverage area: 3211㎡, building area : 41554㎡

Total floor area: 5861㎡, building density: 20.7

Total building area: 61460㎡, floor area ratio: 2.17

All high-rise buildings are designed The basement has an area of ??4861 square meters and a total number of households of approximately 297.

Construction cost estimation

(1) Pre-project fees:

1. Demolition cost

2. Land transfer fee

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3. Urban infrastructure supporting fees: 61,460㎡*50 yuan/㎡=3.073 million yuan

4. Civil air defense fund: supporting basement construction

5. Planning technology Service fee: 56160*1.4 5300*2.2=90,300 yuan

6. Wall modification: 61460*8=491,680 yuan

7. Bulk cement: 61460*2=122,900 yuan Yuan

8. Termite control fee: 61460*2=122,960 yuan

9. Quality supervision fee: 61460*2=122,960 yuan

10. Construction drawing review: 61460*1=61,500 yuan

11. Lightning protection review: 61460*1=61,500 yuan

12. Fire protection review:

13. Cultural relics: 2,000 yuan

14. Planning and design: 100,000 yuan

15. Architectural design: 2000*12 59460*30=1.8078 million yuan

16. Geological exploration: 61460*2=122,900 yuan

17. Measurement and positioning: 100,000 yuan

18. Gas capacity increase: 2,500 yuan/household

19. Water supply pipe network supporting fee: 20 yuan/㎡

Subtotal: 6.2793 million yuan (collection and payment of items 18 and 19, not included)

(2) Project cost

1. Pile foundation: 59460*100 yuan/㎡=5.946 million yuan

2. Basement: 4861*600 yuan/㎡=2.9166 million yuan

　3. Main body: 59460*900 2000*500=54.514 million yuan

4. Elevator: 9 buildings*500,000 yuan/building=4.5 million yuan

5. Outdoor water Electrical engineering: 61460*50=3.073 million yuan

6. Community greening, road and other projects: 61460*60=3.6876 million yuan

7. Supervision fee: 6337.66*1=63.38 Ten thousand yuan

Subtotal: 75.271 million yuan

Total, 81.5503 million yuan

(3) Project cost analysis

Pricing based on comparison Based on the principle of combining with market pricing, the budget pricing for this project is:

Small high-rise residence 1,900 yuan/㎡ Shop 6,000 yuan/㎡ Underground garage 800 yuan/㎡

Sales revenue Residential 1900*56160=106704000

Shop 6000*5300=31800000

Basement 4861*800=3888800

Total: 142392800 yuan

Business tax and surcharge 142392800*5.5=7831604

Various expenses 142392800*4=5695712

Total cost: demolition cost, construction and installation cost, tax fee, land cost

　=42025874.2 81550300 7831604 5695712 X=137103490.2

Gross profit: sales revenue? total cost

=14

2392800-137103490.2

= 5289309.8 yuan

4. Project cost analysis conclusion

If the land bidding price is within 5.28 million yuan, the project has certain The profit margin makes the project feasible. If the risk of exceeding the project is high, the project will not be feasible.

　2

Generally speaking, real estate feasibility study reports are based on market demand, resource investment as the limit, scientific methods as the strategy, and system evaluation indicators as the results. Generally speaking, it is reflected in the following two questions:

Question 1: Is it feasible?

Question 2: How to maximize economic benefits?

From real estate Judging from the actual situation of project development, in terms of construction technology alone, there are generally no major difficulties that cannot be overcome for a while, whether it is a long-span bridge or a super high-rise building, such as the Yangpu and Nanpu Bridges in Shanghai, and the 420-meter-high , the 88-story Jin Mao Tower and the 468-meter-high Oriental Pearl Tower are good evidence. It can be seen that the key lies in the return on investment, that is, whether it can achieve the best economic benefits and take into account social and environmental benefits.

2. The first magic weapon to win in project investment

Before a real estate project is implemented, an investment feasibility analysis must be conducted. At this stage, the feasibility analysis addresses the question of the likelihood of success of a given project. Of course, just because an investment plan has the possibility of success, or that it is feasible, does not mean that the project is suitable. -Generally, feasibility analysis involves not just studying one solution, but multiple solutions at the same time. Sometimes several solutions may be feasible and may be attractive. To select the best option among multiple feasible options, researchers can only comprehensively consider market, funding, risk and other issues based on feasibility analysis, and comprehensively evaluate reasonable choices. A feasibility study must be able to answer at least these three questions accurately:

a. Is this project feasible or not?

b. If feasible, to what extent is it feasible

c. If you invest, what is the worst case scenario that you may encounter and what plans should you make for it?

The third operation link: Real estate feasibility study strategic analysis

Analysis Angle 1: The Impact of Social and Economic Environmental Protection on the Real Estate Market

The real estate industry is not an isolated industry. This book emphasizes in many places that the real estate industry should be regarded as the "sprinkler industry" of the national economy. It is wrong to look at it. This is not just a question of argument, but a question of the most basic understanding: Does the real estate industry drive the development of the national economy or does the growth of the national economy drive the development of the real estate industry? If this question is reversed, Fundamental errors will occur in the judgment of the situation. Both governments and enterprises will lead to the decision-making tendency of "putting people first". For example, at the beginning of the 1990s, the real estate industry in Hainan, Huizhou, Beihai and other places experienced abnormal expansion and ups and downs. This was all caused by ignoring the development of the local national economy, reversing priorities, and failing to correct the position of the real estate industry.

Analysis perspective two: The impact of local government administrative actions on the market

The urban planning and planning control levels of some local governments have a direct impact on local real estate development. As we all know, in Zhangjiagang and Jiangyin cities with relatively good urban planning and management, real estate development has been in a relatively stable state. Advanced and scientific planning, effective scale control, and strict planning management prevent the real estate development in these two cities from blind and swarming phenomena. Based on the principle of supporting facilities, developing, and managing, the residential residential buildings here are Basically, there is no oversupply in the market, and the pre-sale results of all properties are very good.

In contrast, the scale of land grants in many cities is seriously out of control, and the management of the real estate market is chaotic, resulting in serious land speculation. The supply of commercial housing is too large, market prices have fluctuated dramatically, and local governments have improper planning and management, which has caused serious problems. Developers pose significant risks.

Analysis Angle Three: The Impact of Neighborhood Environment on Real Estate Marketing

Gubei New District is not a downtown area in Shanghai, so why are property prices so expensive? It turns out that the first one developed since the 1980s Shanghai Foreign Trade Zone - Hongqiao Development Zone. With more and more foreign businessmen stationed in the area, the nearby Gubei New District has naturally become the main target for foreign businessmen to purchase or rent residences. The area is full of luxurious residences, and most of the residents are compatriots from Hong Kong and Taiwan as well as foreigners, making it the only real residential area for foreigners in Shanghai. This has given Gubei New Area a high reputation and has naturally formed a unique social circle and living community. The quality of the buildings in the area is not bad, there are many people in demand and they are willing to spend a lot of money, so the sales prices and rents have been rising steadily. . After entering 1996, although the housing prices in this community have declined, it is still the most expensive place in the country.

From the example of Gubei New District, it can be seen that the value of real estate does not seem to depend entirely on the grade and quality of the building itself, but is also related to the surrounding neighborhood environment. It is precisely because of the development of Hongqiao Development Zone that there has been a demand for high-end residences in Gubei New District. There is an obvious functional complementary relationship between Hongqiao Development Zone and Gubei New District. Neighborhood function is the external motivation for real estate to realize its market value.

Inspection of investors’ own conditions

1. Examination of your experience

It is difficult to buy cattle across mountains. It is impossible for any company to invest in an area that it completely understands, and the same is true for real estate investment. Even for a company that already has certain qualifications in the real estate industry, if the company used to develop office buildings in the city and now its target investment is suburban villas, can it be considered? It depends on whether the company's managers have experience in villa development. Experienced talents, otherwise it is better to be cautious. Of course, things are not absolute. When you think that the risk of "experience" is worth taking, you don't need to think too much about this issue.

2. Examine your investment methods

Due to different corporate backgrounds and strengths, the project investment methods of various real estate investment companies are also different. Maybe your company will never build a building and then rely on leasing it to obtain long-term returns. Instead, it will build a part and sell a part, or even rely on pre-sale properties for rolling development. Then, for those projects suitable for long-term development and those suitable for long-term development, You should think twice before investing in the area. Sometimes a good project turns into stinky shit in the hands of certain real estate companies and cannot be thrown away even if they want to.

3. Examine your financing capabilities

Every real estate project development will encounter borrowing and financing problems. The question is whether your borrowing and financing channels are reliable. If the project is halfway through construction and no one provides you with follow-up funds, it will be life-threatening. The author has seen many such things: a half-built project was suspended for two or three years because there was no follow-up funds. The initial cost has increased by half, so even if it is completed, there is no profit at all. It is obviously a loss-making business. Analysis angle four: The impact of investors' own conditions on marketing. As the saying goes, "It's too expensive to be self-aware." It is impossible for real estate developers not to analyze their own conditions when conducting project analysis. It is impossible for a company to develop all kinds of projects, nor to take all kinds of risks. Therefore, when examining whether a region or a project is worth investing in, it must also weigh in a targeted way: The company is suitable for it. Is it suitable to invest in that area, or is it suitable to invest in such a project?

The feasibility study process for successful design of the fourth operation link

Step A personnel arrangement combination

Project content, number of people responsible for project cost and time

Registered real estate appraiser

Cost engineer

Market research and analysis staff

Economic analysis expert

Production staff

Experts in sociology, environment, etc.

Step B: Market analysis

a. Macro factor analysis

Real estate developers plan to When investing in real estate, the first thing to consider is the country's macro factors such as politics, economy, culture, geography, customs and religious beliefs, as well as the possibility of regional conflicts or wars.

b. Analysis of regional factors

Generally speaking, the development of regions within the country where the project is located is unbalanced, and differences always exist to varying degrees. Only studying the macro Factors are not enough, and it is necessary to conduct factor analysis on the area where the project is located. This is because: first, the macroeconomic impact on the regional economy is different, with some areas having a large impact and some with a small impact; secondly, regional economic development is affected by the macroeconomic There is a "time lag" phenomenon in the impact. The macroeconomic status quo often takes a long time to have an impact on the development of the regional economy. Some areas respond quickly, while others have a more obvious lag, which must be considered when investing; The specific regional economies of the third country make certain regional economies more or less affected by macroeconomic fluctuations, and even result in reverse trends that are opposite to macroeconomic trends. my country's special economic zones, free trade zones, and bonded zones are relatively less dependent on international capital. Even during my country's macroeconomic adjustment period and domestic funds are tight, their international capital has been less affected, and projects in these areas have been less affected. smaller.

c. Micro market analysis

The analysis of the real estate micro market in the area where the proposed investment project is located can be divided into the following two parts. One is the analysis of the real estate market to be invested, and the other is the analysis of the real estate market. The second is to analyze the property market of the same type as the investment project.

Step C: Market Forecast

a Demand Forecast

Demand forecast is based on the information, data and materials from the real estate market survey, using scientific methods, Analyze and predict the market demand patterns and changing trends of a certain type of property, thereby inferring the market demand for this type of property.

b Supply Forecast

Supply forecast is based on the information and data of the real estate market survey and uses scientific methods to analyze the market supply rules and changing trends of a certain type of property. , thereby predicting the supply of this type of property on the market

c Forecasting methods

Can usually be divided into time series analysis and causality analysis. Time sequence transfer: Real estate feasibility study report column analysis methods can be divided into: moving average method, exponential smoothing method, etc.; causal relationship analysis methods can be divided into: linear regression method, nonlinear regression method, simulation method, etc.

Step D: Cost estimation

In the feasibility study of a real estate development project, the cost estimation of the project is an important part, and it is completed by the appraiser together with the cost engineer. Whether the cost estimation is correct or not, just like the prediction of the rental and sales market, has a significant impact on the economic benefits of the project, but relatively speaking, the cost estimation is easier to grasp.

Generally speaking, the cost structure includes the following four parts:

A. Land upfront fee: refers to obtaining a reasonable land title certificate, completing the demolition of existing buildings on the land, and starting construction. The cost of water, electricity, roads, and completion of site grading.

According to the different ways of obtaining land, it can be divided into three types: upfront fees for new land acquisition, upfront fees for old area renovation, and land leasing fees.

B Design and construction installation engineering fees: refers to the fees included after the completion of the three connections and one leveling of the site, from planning and design to civil engineering, equipment installation, decoration engineering and community supporting facilities, and community greening.

C Municipal supporting fees: Refers to the supporting fees that must be paid to the urban municipal construction when the project is developed, mainly due to water and electricity fees caused by new real estate projects.

Step E: Financial Evaluation

The indicators for project investment plan evaluation are generally divided into two categories:

One type is a dynamic indicator that considers 7 discount factors, namely Indicators that consider 7 factors of the time value of money include net present value, profitability index, dynamic payback period, intrinsic reward and other indicators.