An Explainer: External Development Work

Description

It is a proven fact that housing units in projects with good connectivity, wide roads and better amenities sell better than those in projects without them. This would be true even if the former project were costlier than the latter. This is why external development work becomes a must for those active in real estate building constructions.

According to the Real Estate (Regulation and Development) Act, 2016, external development work includes incorporating in a project “road and road system landscaping, a water supply, a sewage and drainage system, electricity supply transformers and a solid waste-management system”, apart from any other work executed in the periphery of a project for its benefit. Under the estimated cost of a project, external development work charges are also included.

Broadly, external development work covers almost all the facilities provided by a developer in his project, and a buyer does not have to pay any additional amount to enjoy these facilities. However, for enjoying certain amenities provided in a housing society, you may have to pay extra charges periodically.