GTA Development Charges
http://www.bildgta.ca/Assets/Bild/Educa ... Report.pdf
Average development charge for each unit is approximately 20% of its price
Condo unit starts from 122,000 and low rise from 187,000 to 232,000
Is this charge just for govt to allow construction?
Is this apart from land cost (bought by landlord or developer) ?
I guess this is one of primary reason why developers are charging that hefty sum
If avg construction cost is $200 per sft
For a 500 sft condo... it costs 230,000 to build Before land cost, then land cost then builder profit..
Average development charge for each unit is approximately 20% of its price
Condo unit starts from 122,000 and low rise from 187,000 to 232,000
Is this charge just for govt to allow construction?
Is this apart from land cost (bought by landlord or developer) ?
I guess this is one of primary reason why developers are charging that hefty sum
If avg construction cost is $200 per sft
For a 500 sft condo... it costs 230,000 to build Before land cost, then land cost then builder profit..