Site layout planning (SLP) aims at the efficient placement of temporary facilities on a construction site. Improper planning can lead to tremendous wastes in terms of unnecessary transport of materials and other resources around the site. A plethora of research has presented SLP as an optimization problem, but a few have focused on the wastes involved and that occur due to an improper layout of the construction site. To develop the 'SLP waste' typology, a comprehensive literature review was done, and the experts of SLP were interviewed. The identified wastes were found to be resulting due to inefficient layouts, improper coordination and collaboration among the project stakeholders and conflict of their interest. The interviewed experts highlighted the inefficiency of two-dimensional (2D) drawings and requirement of three-dimensional (3D) visualization that can aid in envisioning the future site scenarios. Therefore, utilizing Augmented Reality (AR) integrated Building Information Modeling (BIM), a conceptual tool 'AR-BIM' is proposed, and the anticipated working is briefed out in this study. The tool is under development and is expected to ease out the planning of site layouts and will aid in enabling lean, along with value generation in construction projects.