Over 1608 new construction projects tracked in March 2024

Rutuja Kedare Apr 19, 2024 0

In March 2024, Biltrax Construction Data tracked over 1608 new projects. These include 923 building projects as well as 685 industrial and infrastructure projects.

Building Construction Projects Insights

The 923 building projects incorporated in March 2024 cover a total area of 273.36 Million-SqFt amounting to a total construction cost of INR 106,256 Crore. Of these 923 projects, 336 are actively under construction, whereas 587 are in the early stages with construction yet to begin. The breakdown comprises 553 private projects and 370 public projects.

Magarpatta Port 133, an upcoming mixed-use development project in Pune, Maharashtra, is one of the mega projects tracked under the commercial & hospitality sector (with a construction cost of INR 3,514 Crore and a construction area of 7,809,798 SqFt). Magarpatta Township Development & Company will oversee the development. Encompassing nearly 14.88 Acres this mixed-use development will feature an IT Park, a 32-storey hotel, as well as a clubhouse.

Another notable mega project tracked includes a residential development – DLF Camellias 2 (Lux 5) by DLF Limited in Gurgaon, Haryana, having a construction cost of INR 2,050 Crore. The project includes constructing four towers with a ground floor and 42/48 upper floors. 

511 new tenders were floated and duly tracked with a tender value of over INR 41,346 Crore. Central Public Works Department (CPWD), Public Works Department, Maharashtra (PWD), Government of Odisha Works Department, and Public Work Department, Madhya Pradesh (MP PWD) are among the top and most notable tender issuers.

Industrial and Infrastructure Projects Insights

464 Industrial Projects worth INR 51,008 Crore and 221 Infrastructural Projects worth INR 54,287 Crore were incorporated in March 2024. 

Moreover, In March 2024, 430 industrial projects were incorporated, encompassing a total area of 70.71 Million-SqFt and entailing a total construction cost of INR 46,954 Crore. Among the states, Maharashtra topped the industrial projects chart grossing 76 projects, followed by Telangana, Karnataka, Gujarat & Uttar Pradesh. 

In terms of water infrastructure projects, 163 projects amounting to a total of INR 13,170 Crore were added. Furthermore, Maharashtra attracted the highest number of water projects with 62 projects, followed by Rajasthan, Madhya Pradesh, West Bengal & Assam.

The month of March also saw the unveiling of major infrastructure projects related to transport. This includes the National Highways Authority of India (NHAI)’s Four Laning of Pathalgaon-Kunkuri Section of NH 43 as part of Raipur-Dhanbad Economic Corridor under Bharatmala Pariyojana (Lot-5/Pkg-7) in Chhattisgarh. The construction cost of this project is INR 2,382 Crore. 

Furthermore, One of the major industrial projects includes the Asian Paints Water Based Paints Manufacturing Unit in Pithampur, Dhar, Madhya Pradesh. The project is currently in the planning stage, whereas work is expected to commence within 4-5 months. Approximately INR 1,800 Crore will be spent on this manufacturing unit.

Also Read –

  1. Over 1691 new construction projects tracked in February 2024
  2. Over 1642 new construction projects tracked in January 2024

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