This paper presents BURAQ, a DSP development framework, which aims at optimizing cost, efficiency and turn around time of system-on-chip development. BURAQ accepts an instruction and architecture description (IAD) file that represents the DSP and its instruction set at a higher level of abstraction, in a proprietary language. The system then synthesizes a complete hardware description of the processor core, along with accompanying tools i.e. ILP assembler, linker and instruction set simulator. The synthesized processor core is composed of a processor kernel, registers, addressing units and functional units. A user friendly IDE for the above mentioned framework has also been developed and it allows easy specification and detailed analysis of the target architecture. Hence BURAQ allows a platform for hardware/software co-simulation of a DSP. co-simulation is a very powerful tool for early design space exploration and thus reducing production cost and development time of SOC architectures. The effectiveness of BURAQ was verified with a successful modeling of Texas Instruments' TMS320C6x and StarCore's SC140.