Gross Realisation Value (GRV) is the total sale value of a completed development project, calculated as the sum of expected sale prices across all lots, units or houses, before deducting selling costs (agent commissions, marketing, legals, GST).
GRV is a core development-finance metric. The construction takeout LVR is typically expressed as a percentage of GRV (rather than land or cost), because the takeout depends on whether the completed product can be sold at expected prices. A bank construction takeout might cap at 65 percent of GRV; a stretched private facility might go higher.
Net Realisation Value (NRV) is GRV less the selling costs and GST, and is sometimes used as the more conservative reference for the same calculation. Both GRV and NRV are projections, so the credit team stress-tests them at submission using market evidence (recent comparable sales, sustained sale rates, agent reports) and applies a buffer for slippage.
For Archer LandX files, GRV underwrites the lead-in to the construction takeout: if the planned GRV does not support the planned takeout LVR, the file is restructured at entry.