[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
As many as 448 infrastructure projects, each worth Rs 150 crore or more, have been hit by
cost overruns totalling more than Rs 4.02 lakh crore, according to a report. The Ministry of
Statistics and Programme Implementation monitors infrastructure projects worth Rs 150
crore and above. Of the 1,739 such projects, 448 reported cost overruns and 539 were
delayed."Total original cost of implementation of the 1,739 projects was Rs 22,18,210.29
crore and their anticipated completion cost is likely to be Rs 26,20,618.44 crore, which
reflects overall cost overruns of Rs 4,02,408.15 crore (18.14 per cent of original cost)," the
ministry's latest report for January 2021 said.
The expenditure incurred on these projects till January 2021 is Rs 12,29,517.04 crore, which
is 46.92 per cent of the anticipated cost of the projects. However, the report said the number
of delayed projects decreased to 401 if delay is calculated on the basis of latest schedule of
completion. Further, for 941 projects neither the year of commissioning nor the tentative
gestation period has been reported.
Out of 539 delayed projects, 106 projects have overall delays in the range of 1-12 months,
131 projects have delays of 13-24 months, 187 projects reflect delays in the range of 25-60
months and 115 projects show delays of 61 months and above. The average time overrun in
these 539 delayed projects is 44.65 months.
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