Developers find ways to meet deadlines!
Developers are now in a rat race to finish the projects on time. They are juggling with the available resources in the best possible way to meet the deadlines. They are also opening up to other options they rarely considered in the past. Wondering why? Here is the answer! Developers realized that the faster they complete their project the sooner they will be able to lease or sell their property and with the lower interest payment on their borrowings they will be able to save really well.
With the traditional resources becoming expensive, developers have started considering those options that are slightly costlier. Developers have now started using steel for their structures. Though using steel shoots up the construction cost by 15%, the projects are delivered 1.5 years in advance. Builders have started employing machines in order to cover up the delays caused by the labour scarcity and expense.
Developers have become cautious at every stage of the construction cycle, right from getting their designs to project completion. They found means of cost cutting at every stage of project so that they could spend on expensive resources. Big developers resort to architecture firms for timely delivery of project designs. Though they are expensive, the project design is frozen and compact before the construction starts. The percentile of errors are less compared to their Indian counterparts. This helps them in finalizing orders for raw materials, labour and other items for the project in advance. This early placement of orders saves developers another 5-7% of cost.