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NZ Registered Valuer Exam Practice Questions - NZ Valuers Registration Board Registration Examination (New Zealand) Exam

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A developer plans to subdivide a block of land in Selwyn into 10 residential lots. The expected gross realisation per lot is $400,000 including GST (at 15%). The total development costs (civil works, consents, fees) are $1,500,000. Finance costs are estimated at $120,000, and the developer requires a profit and risk margin of 20% on the gross realisation (excluding GST). What is the residual value of the land (excluding GST)?
Correct Answer:
$$1,162,609

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