Over 1444 new construction projects tracked in October 2023

Rutuja Kedare Nov 27, 2023 0

In October 2023, Biltrax Construction Data tracked over 1444 new projects. These include 877 building projects as well as 567 industrial and infrastructure projects.

Building Construction Projects Insights

The 877 building projects monitored for the month of October 2023 cover a total area of 189.58 Million-SqFt amounting to a total construction cost of INR 67,801 Crore. Of these 877 projects, 356 projects are actively under construction, and 521 are in early stages with construction yet to begin. The breakdown comprises 543 private projects and 334 public projects.

Terminus & NCC’s The Line and Highline, a mixed-use project located in Kokapet, Hyderabad, Telangana, is one of the mega projects tracked under the residential-commercial sector (with a construction cost of INR 3,393 Crore and a construction area of 7,540,356 SqFt). Terminus Group & NCC Urban Infrastructure Limited are overseeing the development, which includes 2500 apartments with amenities for a gated community. As of October 2023, excavation work is underway at the project site. 

Another notable mega project tracked includes a residential building – Sobha Neopolis in Panathur, Bangalore, with a construction cost of INR 2,226 Crore and a construction area of 4,637,286 SqFt. 

487 new tenders were floated and duly tracked with a tender value of over INR 20,478 Crore. Madhya Pradesh Building Development Corporation Limited (MPBDCL), Central Railway, Bridge and Roof Company India Limited, and the Public Work Department, Madhya Pradesh (MP PWD) are among the top and most notable tender issuers.

Industrial and Infrastructure Projects Insights

389 Industrial Projects worth INR 85,328 Crore and 178 Infrastructural Projects worth INR 26,396 Crore were tracked in the month of October 2023. 

The 389 industrial projects monitored for the month of October 2023 cover a total area of 102.16 Million-SqFt amounting to a total construction cost of INR 85,328 Crore. Among the states, Karnataka topped the industrial projects chart grossing 41 projects, followed by Gujarat, Maharashtra, Chhattisgarh, and Telangana.

In the road infrastructure category, Biltrax Construction Data tracked 37 projects entailing a construction cost of INR 19,976 Crore. In terms of water infrastructure projects, 136 projects amounting to a total of INR 6,399 Crore were tracked. Kerala attracted the highest number of water projects with 23 projects, followed by Punjab, Andhra Pradesh, Uttar Pradesh, and Madhya Pradesh. 

The month of October also saw the monitoring of major infrastructure projects related to transport. This includes the National Highways Authority of India (NHAI) Four Laning of NH 143D. Tenders have been floated for the selection of private developers for 3 packages – Kereya to Keyondpani Section (Package 2), Keyondpani to Latra Section (Package 3), and Latra to Ranchi Section (Package 4). The combined cost of these three packages is INR 2,690 Crore.

One of the major industrial projects includes the MSPL Integrated Steel Plant in Halavarthi, Karnataka which is currently under the approval stage, and work is expected to commence after 4-5 months. Approximately INR 14,383 Crore will be spent on this manufacturing plant.

Also Read –

  1. Over 1021 new projects tracked in October 2022 (biltrax.com)
  2. Over 1182 new construction projects tracked in September (biltrax.com)
  3. Upcoming commercial construction projects in India Q3 2022 (biltrax.com)

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