It has been long time that government (regulator), developer (organizer)and banking side (source of finance) are trapped in wrong assumption of seeingbusiness of property. The government assumption that development of big scalehousing area (by development of new town or self-supporting town) will createefficiency at national industry housing in fact is totally wrong. Developer andbanking side opinion which say that by using business calculation big scaleproperty will give more benefits than those of small scale project. Logically, thegreater the project property the higher the price of the land and the house to be soldto the consumer but it lacks of buyer.Ciater Riung Rangga is one of property projects which were launched in 1995 andinvested a big capital in long term. The question arises whether investment to thatproject will benefit or not. Analyses such as cash in flow, cash out flow, projected cash flow, NPV, IRR, Profitability index, Modified IRR and COC are used toanalyze the data.Base on the research conducted total cash in flow and cash out flow of the CiaterRiung Rangga project were Rp190.772.079.000,- and Rp121.493.750.000,-respectively. Projected Net profit was Rp35.202.956.100,-. NPV obtained wasRp14.848.189.000,- indicating that this project was competent to be run. Result ofIRR was 69,38 % (greater than 20%), which means that the project was feasible tobe run. Profitability Index/ ratio was >>> 1, with assumption that initialinvestment was zero. Result of MIRR was 33, 42% and COC was 25,76%,meaning that it can be reinvested (MIRR > COC).