Over 1540 new construction projects tracked in November 2023

In November 2023, Biltrax Construction Data tracked over 1,540 new projects. These include 1,015 building projects as well as 525 industrial and infrastructure projects.

Building Construction Projects Insights

The 1,015 building projects monitored for November 2023 cover a total area of 209.95 Million-SqFt amounting to a total construction cost of INR 76,161 Crore. Of these 1,015 projects, 370 projects are actively under construction, and 645 are in the early stages with construction yet to begin. The breakdown comprises 536 private projects and 479 public projects.

Hiranandani Westgate, a mixed-use project located in Thane, Maharashtra, is one of the mega projects tracked under the hospitality-residential-retail sector (with a construction cost of INR 1,773 Crore and a construction area of 5,065,728 SqFt). House of Hiranandani will oversee the development, including 3901 apartments with amenities for a gated community. The project entails the construction of 13 Towers, a Shopping Building Block, a Hotel Building, and a Clubhouse and it is currently under the Environmental Clearance (EC) approval stage.

Another notable mega project tracked includes a residential building – Rajapushpa Presidentia in Tellapur, Hyderabad, Telangana with a construction cost of INR 1,604 Crore and a construction area of 3,563,991 SqFt.

490 new tenders were floated and duly tracked with a tender value of over INR 22,077 Crore. Southern Central Railway, Northern Railway, Public Works (Building & NH) Department Assam (PWD), and the Public Works Department, Maharashtra (PWD) are among the top and most notable tender issuers.

Industrial and Infrastructure Projects Insights

377 Industrial Projects worth INR 69,167 Crore and 148 Infrastructural Projects worth INR 10,828 Crore were tracked in November 2023.

The 377 industrial projects monitored for November 2023 cover a total area of 89.05 Million-SqFt amounting to a total construction cost of INR 69,167 Crore. Among the states, Maharashtra topped the industrial projects chart grossing 61 projects, followed by Karnataka, Gujarat, Andhra Pradesh, and Telangana.

In terms of water infrastructure projects, 139 projects amounting to a total of INR 5,714 Crore were tracked. Uttar Pradesh attracted the highest number of water projects with 31 projects, followed by Haryana, Kerala, Assam, and Maharashtra.

The month of November also saw the monitoring of major infrastructure projects related to transport. This includes the National Highways & Infrastructure Development Corporation Limited (NHIDCL) Four Laning of Bilasipura – Guwahati Road (NH-17). Tenders have been floated for the selection of private developers for 2 packages – Package 1 of length 17 km and Package 2 of length 28 km. The combined cost of these two packages is INR 1,523 Crore.

One of the major industrial projects includes the JSW Expansion Of Integrated Steel Manufacturing Plant in Dolvi, Raigad, Maharashtra which is currently under the EC approval stage, and work is expected to commence within 4-5 months. Approximately INR 23,688 Crore will be spent on this manufacturing plant.