Over 1691 new construction projects tracked in February 2024

Unnati More Mar 19, 2024 0

In February 2024, Biltrax Construction Data documented over 1691 new projects. These include 1011 building projects as well as 680 industrial and infrastructure projects.

Building Construction Projects Insights

The 1011 building projects incorporated in February 2024 cover a total area of 197.02 Million-SqFt amounting to a total construction cost of INR 73,810 Crore. Of these 1011 projects, 398 are actively under construction, and 613 are in the early stages with construction yet to begin. The breakdown comprises 603 private projects and 408 public projects.

NBCC Redevelopment of GPRA Colonies at DIZ and Andrew Ganj in New Delhi are among the mega projects tracked under the residential sector (with a construction cost of INR 2,700 Crore and INR 2,457 Crore, respectively, and a construction area of more than 20 Lakh SqFt each). The Ministry of Housing and Urban Affairs will oversee the development of these projects entailing the demolition of 1392 existing Type I & II and 1472 Type V GPRA units with 207 Transit hostels for GPRA at DIZ, whereas demolishing 1232 existing Type I, III and V GPRA units and 1079 Type V GPRA units in Andrew Ganj.

Another notable mega project tracked includes a mixed-use project – MIDC Training Centre and Five Star Hotel, by Maharashtra Industrial Development Corporation (MIDC) in Kalamboli, Maharashtra, with a construction cost of INR 1,700 Crore and a construction area of 0.57 Million-SqFt. The project includes constructing the country’s largest Training Center & Five-Star Hotel in Kalamboli Midc Region. It is currently in the proposed stage.

507 new tenders were floated and duly tracked with a tender value of over INR 29,862.88 Crore.  Public Works Department, Maharashtra (PWD), Odisha State Police Housing and Welfare Corporation Limited, Public Works Department, Uttar Pradesh (UPPWD), and the Central Public Works Department (CPWD) are among the top and most notable tender issuers.

Industrial and Infrastructure Projects Insights

442 Industrial Projects worth INR 161,768 Crore and 238 Infrastructural Projects worth INR 101,341 Crore were incorporated in February 2024.

In February 2024, 442 industrial projects were incorporated, encompassing a total area of 120.74 Million-SqFt entailing a total construction cost of INR 161,768 Crore. Among the states, Maharashtra topped the industrial projects chart grossing 65 projects, followed by Karnataka, Gujarat, Telangana, and Tamil Nadu.

In terms of water infrastructure projects, 159 projects amounting to a total of INR 9,970 Crore were tracked. Odisha and Uttar Pradesh attracted the highest number of water projects with 19 projects, followed by Madhya Pradesh, Maharashtra and West Bengal.

The month of February also saw the unveiling of major infrastructure projects related to transport. This includes Maharashtra State Road Development Corporation Limited (MSRDC)’s Versova Bandra Sea Link. The scope of work involves the construction of a sea link bridge from Bandra at Bandra-Worli Sea Link to Versova at Nana Nani Park with an in-between connector at Juhu-Koliwada and Otter’s Club & Tolling Facility (Total Length – 17.7 Km). The overall construction cost of this project is INR 11,333 Crore.

One of the major industrial projects includes the proposed Kalyani Steels Titanium Metals Aerospace Components & Specialty Steels Manufacturing Unit, at Gajamara in Odisha by Kalyani Steels Limited. The project is expected to be commenced within the next 3-4 months and will see an estimated investment of INR 20,800 Crore.

Also Read –

  1. Over 1642 new construction projects tracked in January 2024
  2. Over 1582 new construction projects tracked in December 2023
  3. Over 1540 new construction projects tracked in November 2023

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