Applying Indicies

Question 1

What is the formula for applying indices?

Answer 1

New TPI times by the new location adjustment DIVDED BY the old TPI times by the old location factor

Then times by the old rate per m2 to get the new rate per m2

Then times the new rate per m2 by the new square meterage

Question 2

What are 5 examples of exclusions to make when applying indicies?

Answer 2

Any 5 from the list below:
External works
Preliminaries
VAT
Professional fees
Land costs
Interest
Loose furniture and fittings
Other project development costs