Consumer Internet of Things (IoT) applications are largely built through end-user programming in the form of event-action rules. Although, end-user tools help simplify the building of IoT applications to a large extent, there are still challenges in developing expressive applications in a simple yet correct fashion. In this context, we propose a formal development framework based on the Web of Things specification. An application is defined using a composition language which allows users to compose the basic event-action rules to express complex scenarios. It is transformed into a formal specification which serves as the input for formal analysis, where the application is checked for functional and quantitative properties at design time using model checking techniques. Once the application is validated, it can be deployed and the rules are executed following the composition language semantics. We have implemented these proposals in a tool built on top of Mozilla WebThings platform. The steps from design to deployment were validated on real-world applications.