Over 1,222 New Construction Projects Tracked in May 2024

Unnati More Jun 18, 2024 0

In May 2024, Biltrax Construction Data documented over 1,222 new construction projects. These include 723 building projects and 499 industrial and infrastructure projects.

Building Construction Projects Insights

The 723 new building projects incorporated in May cover a total area of 241.59 Million-SqFt, with a total construction cost of INR 88,031 Crore. Of these, 364 projects are under construction, while 359 are in the early stages. The breakdown includes 523 private projects and 200 public projects.

Among the significant construction projects in May is the Anvita Group (9M Developers) residential project in Tellapur, named ‘Anvita High 9’. This project covers an impressive 14.83 Acres of land parcel with an estimated construction cost of INR 3,208 Crore. The project entails developing 9 residential towers along with world-class amenities such as a clubhouse, multipurpose hall, banquet facilities, restaurant, etc.

Another notable construction project in May includes the development of Mapletree IT park in Bangalore, Karnataka. This mixed-use project has a construction cost of INR 3,150 Crore and a construction area of over 7 Million-SqFt. Mapletree India has acquired 41 Acres of land parcel from Adarsh Developers for this project.

In May, 319 new tenders were floated with a total tender value of over INR 12,747.28 Crore. Notable tender issuers include the Military Engineer Services (MES), the Public Works Department, Maharashtra (PWD), the Central Public Works Department (CPWD), and the Gujarat Housing Board.

Industrial and Infrastructure Projects Insights

In May 2024, 376 industrial projects worth INR 72,499 Crore and 123 infrastructural projects worth INR 26,748 Crore were documented.

The 376 industrial projects span a total area of 55.62 Million-SqFt, with a total construction cost of INR 72,499 Crore. Maharashtra leads with 59 projects, followed by Karnataka, Jammu & Kashmir, Haryana, and Tamil Nadu.

For water infrastructure projects in May, Biltrax Construction data tracked 92 projects worth INR 9,585 Crore. Maharashtra again attracted the highest number of water projects with 25, followed by Tamil Nadu, Madhya Pradesh, Kerala, and Meghalaya.

May also saw major transport infrastructure projects. One notable construction project in May is MMRDA‘s Elevated Eastern Freeway Extension from Ghatkopar to Thane. This project involves the design and construction of an elevated freeway extension from Chheda Nagar, Ghatkopar to Thane, with a total construction cost of INR 1,298 Crore.

A major industrial project in May includes the Chemplast Cuddalore Vinyl Chloride Monomer Manufacturing Unit in Semmankuppam, Tamil Nadu. Developed by Chemplast Cuddalore Vinyls Ltd, this project has an estimated cost of INR 4,702 Crore and is currently under approval, with the developer having submitted a TOR application for environmental clearance.

Also Read –

  1. Over 1489 new construction projects tracked in April 2024
  2. Over 1608 new construction projects tracked in March 2024

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