Over 1642 new construction projects tracked in January 2024

In January 2024, Biltrax Construction Data documented over 1642 new projects. These include 958 building projects as well as 684 industrial and infrastructure projects.

Building Construction Projects Insights

The 958 building projects incorporated in January 2024 cover a total area of 199.09 Million-SqFt amounting to a total construction cost of INR 71,429 Crore. Of these 958 projects, 319 are actively under construction, and 639 are in the early stages with construction yet to begin. The breakdown comprises 532 private projects and 426 public projects.

My Home Akrida, an upcoming residential project in Tellapur, Telangana, is one of the mega projects tracked under the residential sector (with a construction cost of INR 3,071 Crore and a construction area of 68,24,243 SqFt). My Home Group will oversee the development including 3768 apartments. The project entails the construction of 12 high-rise luxury residential towers, and the sub-structural work is currently in progress.

Another notable mega project tracked includes a Healthcare project – PHRC Lifespace Health City by PHRC Lifespace Organisation in Pune, Maharashtra, with a construction cost of INR 1,162 Crore and a construction area of 25,83,338 SqFt. The project includes constructing a commercial block (Block A), a hospital (Block B, C, D), a Hospital & Admin block (Block E), a hostel (Block FA), and three additional hospital blocks (Block FB, G, & H).

530 new tenders were floated and duly tracked with a tender value of over INR 19,068.6 Crore. Public Works Department, Maharashtra (PWD), Central Public Works Department (CPWD), Public Works (Building & NH) Department (PWD) Assam, and the West Central Railway (WCR) are among the top and most notable tender issuers.

Industrial and Infrastructure Projects Insights

473 Industrial Projects worth INR 197,517 Crore and 211 Infrastructural Projects worth INR 59,664 Crore were incorporated in January 2024. 

In January 2024, 473 industrial projects were incorporated, encompassing a total area of 142.91 Million-SqFt and entail a total construction cost of INR 197,517 Crore. Among the states, Maharashtra topped the industrial projects chart grossing 83 projects, followed by Gujarat, Karnataka, Orissa, and Uttarakhand.

In terms of water infrastructure projects, 138 projects amounting to a total of INR 7,840 Crore were tracked. Maharashtra attracted the highest number of water projects with 26 projects, followed by Tamil Nadu, Uttar Pradesh, Madhya Pradesh, and Andhra Pradesh. 

The month of January also saw the unveiling of major infrastructure projects related to transport. This includes the National Highways Authority of India (NHAI)’s Guwahati Ring Road Project at various sections. The scope of work involves the construction of a 4-lane Greenfield Northern Guwahati Bypass from Baihata Chariali (Total Length – 55.54 Km), widening of the 4-lane to 6-lane project from Jayanagar Underpass to Jorabat Junction of NH-27 in Assam on DBFOT mode (Total Length – 7.763 Km), and the improvement of Four/Six stretch of NH-227 in Assam on DBFOT mode (Total Length – 58.129 Km). The overall construction cost of this project is INR 4,617 Crore.

One of the major industrial projects includes the proposed Sembcorp Green Hydrogen Plant, Thoothukudi, in Tamil Nadu by Sembcorp Industries Limited. The project is expected to start commencement within the next 6-7 months and will see an estimated investment of INR 25,366 Crore.

Also Read –

1. Over 1582 new construction projects tracked in December 2023
2. Over 1540 new construction projects tracked in November 2023
3. Over 1021 new projects tracked in October 2022

---