Currently, Construction and Demolition waste (C&D waste) is a worldwide issue that concerns not only the construction management level of on-site managers but also the sustainable development of construction industry. In this paper, detailed formulas are listed for calculating the costs of three typical kinds of disposal routes of C&D waste. They are Landfill Disposal, Recycling and Reuse. Using the specific formulas, the costs of new construction project in the Pearl River Delta Region of China are also estimated. The results of this study show: From 2010 to 2013, the Pearl River Delta region costs about 87.91 yuan (1US$=6.12 yuan in September 2013) for landfill disposal of 1t(tone) C&D waste, from the site collection management to landfill disposal; about 76.33 yuan for recycling of 1t C&D waste, from the site collection management to the recycling treatment; 27.29 yuan for recycling and reusing of 1t C&D waste, from the site collection management to recycling processing for reuse. On equal conditions, the recycling based reuse costs the lowest in C&D waste management. Reasonable arrangement of C&D waste treatment field. Additionally, in this paper, it is suggested that the government should make proper compensations to the contractors and professional processing businesses, to reduce their disposal cost and promote C&D waste management. The results of this study can provide supportive data and theoretical basis for the C&D waste management decision-making in rapidly developing economies.