Moumita Goswami, Civil Engineer, moumita.goswami@naexo.me
India, the 5TH largest economy in the world, is rapidly climbing the ladder of Urbanization. About 80% of the infrastructural support required by 2050 is yet to be built. There could not be a more promising and profitable time to invest in real estate development. It is undeniable that the pandemic caused a ruckus in economic development, forcing the real estate market into a vulnerable state.
The economy works cyclically, no crisis is permanent, and neither is this golden period for investment. This investment period promises returns beyond leaps and bounds for a developing nation like India. If the real estate builders of the metropolitan cities miss this opportunity, the loss will be irrecoverable.
Investing in real estate development alone is not enough; maximising profits is the actual game. Every aspect of the project at all stages has to be monitored, strategised and optimised to extract the most out of it. This sounds impossible, doesn’t it? The techno-commercial audit makes all the above possible and much more.
Gone are the days when contractors dragged on the project unnecessarily and charged high sums of money for poorly executed work with high waste percentage. Techno-commercial audit monitors the project at all stages.
At the project's inception, Techno-Commercial Audit optimises the design, thereby reducing any extra cost. Our team of engineers studies design with the help of highly sophisticated tools and software, and then the design is safely optimised. The project's prospects are thoroughly evaluated, thereby highlighting its unique features and centring the design and amenities around it. This makes the project stand out in highly competitive metropolitan cities. To compete in a fierce market, our designers also recommend various marketable designs and sought-after modifications that can be implemented to help the property gain attention and even higher property value. All aspects of the project are carefully examined, and no detail is left out. Our engineers even help the builder term the Work Order so that no additional amount is to be paid to the contractor other than the agreed-upon amount.
At the execution stage, our Techno-Commercial Auditors monitor the quality of work being executed by the contractor, and any unsatisfactory work is challenged at its earliest and the same is rectified immediately. This eliminates the chances of poorly executed work, saves the cost of material and labour charges, and it also saves time that may have been wasted under rework. Our engineers monitor the project strictly such that all tasks are completed on schedule and that the project is not delayed. This keeps the project on track and the budget under control.
Countless real-estate builders struggle when it comes to staying under budget. With contractors charging an exorbitant amount of money and high consumption of materials, it turns into a herculean task. Consumption should be thoroughly monitored to avoid the extra quantity of material claimed. Our team of Techno-commercial auditors verify the consumption of materials at the site with the Bill of Quantities submitted during Budget- planning. During construction, any requirement for overconsumption is thoroughly verified and cross-checked with the drawings provided by the structural consultant before allowing the same. Even the measurement sheets submitted by the contractors are thoroughly verified with the drawing before any bill is forwarded to the Billing Department. Our team of experienced engineers surveil the process and recommend methods of process development along with alternative materials of the same or higher grade at a lower cost.
With all the above precautions, contractors still get away with a lot, and at the end of the day, the builder suffers and ultimately the buyer, but we offer the best solution. We offer a variety of destructive and non-destructive tests that our group of well-equipped engineers carry out during the construction process. Our team conducts extensive material testing at regular intervals, and the test results are thoroughly investigated. This ensures that the builder is not exploited by the contractor, thus helping with quality assurance and maintaining the budget.
We also offer Post-Construction Techno-Commercial Audits as well; this audit is carried out at the near termination stage of the project when the last RA bill has been submitted by the contractor for final payment. Our team of engineers conduct a thorough audit where all the RA bills and measurement sheets submitted by the contractor are verified against the as-built drawings. The consumption of materials and their reconciliation are verified as well. Our engineers systematically check for all revisions made to the initial structural drawing and the final drawings, where the modifications and their causes are discussed with the supervisor and project manager. Our team shares with the builder the theoretical consumption for materials such as concrete and steel, and the deviation between theoretical and actual consumption is shared with the builder; in most, this deviation leads to a reduction in profit margin. The concrete consumption data and bar bending schedule are redesigned based on the drawings and extrapolated data to achieve precision and accuracy in the deviation that may have occurred.
The structural analysis report of the project is meticulously examined, and all recommendations for optimisation and modifications are shared with the builder. All material testing reports are exhaustively studied, and any means of discrepancy is shared with the builder; this leads to poor quality of work being rectified before the property is sold. An array of non-destructive tests allows our teams to determine the quality of the project and various works executed; this allows the builder to penalise the contractors who have delivered poor quality of work. Our Techno-commercial audit team helps the builder in all possible ways to reduce cost and receive the best quality of work from the contractors.
In a world where information is available in the blink of an eye, buyers are always on the hunt for properties that assure quality, are unique, offer the latest amenities and modifications and promise a high ROI. The buyers have already levelled up, and they understand that Techno-commercially audited properties offer high-quality assurance and are trust-worthy with the latest amenities and modifications; this has helped several properties sell out faster than non-audited properties. So, let our team of engineers bring out the best in your project and make it one of the most sought properties in this intense market.
To know more about how we can assist you in making optimum decisions about your Real Estate project, drop us a mail at hello@naexo.me