Over 1582 new construction projects tracked in December 2023

In December 2023, Biltrax Construction Data documented over 1,582 new projects. These include 971 building projects as well as 611 industrial and infrastructure projects.

Building Construction Projects Insights

The 971 building projects incorporated in December 2023 cover a total area of 214.06 Million-SqFt amounting to a total construction cost of INR 85,482 Crore. Of these 971 projects, 313 projects are actively under construction, and 658 are in the early stages with construction yet to begin. The breakdown comprises 497 private projects and 474 public projects.

Runwal Project, an upcoming residential project in Lower Parel, Mumbai, is one of the mega projects tracked under the residential sector (with a construction cost of INR 3,657 Crore and a construction area of 6,650,775 SqFt). Runwal Group will oversee the development including 3652 apartments. The project entails the construction of three saleable towers (Rehabilitation buildings) and it is currently under the Environmental Clearance approval stage.

Another notable mega project tracked includes a mixed-use development – Dion Township Project by Dion Infratech in Khordha, Odisha, with a construction cost of INR 932 Crore and a construction area of 2,868,133 SqFt. The project includes constructing a commercial cum hotel (Block A), a hospital (Block B), an economically weaker section residential block (Block C), residential blocks (Blocks D, E, and F), and a clubhouse.

492 new tenders were floated and duly tracked with a tender value of over INR 22,586 Crore. Public Works Department, Maharashtra (PWD), Public Works (Building & NH) Department (PWD) Assam, Gujarat Housing Board, and the Central Public Works Department (CPWD) are among the top and most notable tender issuers.

Industrial and Infrastructure Projects Insights

420 Industrial Projects worth INR 136,767 Crore and 191 Infrastructural Projects worth INR 41,223 Crore were incorporated in December 2023.

In December 2023, 420 industrial projects were incorporated, encompassing a total area of 234.65 Million-SqFt and entailing a total construction cost of INR 136,767 Crore. Among the states, Maharashtra topped the industrial projects chart grossing 65 projects, followed by Gujarat, Tamil Nadu, West Bengal, and Kerala.

In terms of water infrastructure projects, 152 projects amounting to a total of INR 8,309 Crore were tracked. Madhya Pradesh attracted the highest number of water projects with 24 projects, followed by Maharashtra, West Bengal, Uttar Pradesh, and Kerala.

The month of December also saw the unveiling of major infrastructure projects related to transport. This includes the Municipal Corporation of Greater Mumbai (MCGM)’s Goregaon Mulund Link Road (GMLR). The scope of work involves the design, construction, and operation of a twin tunnel from the Film City Goregaon to Khindipada (Amar Nagar) Mulund including the Box Tunnel at Film City. The construction cost of this project is INR 6,301 Crore.

One of the major industrial projects includes the Neelachal Ispat Expansion of Integrated Steel Plant at Kalinga Nagar in Jaipur which is currently under the approval stage, and work is expected to commence within 4-5 months. Approximately INR 61,769 Crore will be spent on this manufacturing plant.