₹390 crore Noida authority building to be completed by September
The rise in cost is due to the retrofitting work, design changes, and additional finishing requirements, officials said. The authority had approved the escalation in the budget on June 14, 2025.
'We aim to complete the building now in September so that it can be opened for the public use,' Vijay Rawal chief engineer of the Noida authority, said. Notably, it was earlier scheduled to be completed in 2024. With physical work over 95% complete and electrical work over 90%, officials said the authority expects to finish the long-pending project later this year.
Officials said the complex, along the Bhangel elevated road, is likely to be inaugurated by Uttar Pradesh chief minister Yogi Adityanath.
First proposed in 2013 on a six-acre plot, the project originally included two towers — one is to house an 18-floor commercial block and Tower 2, an eight-floor office building — both at an estimated cost of ₹478 crore. The original contract for the project was awarded to a company in 2016 for ₹232 crore.
Later in 2020, the authority planned to scale down Tower-1 to four floors while keeping Tower-2 unchanged, along with the basement, auditorium and external works. This revision, approved in August 2020, reduced the estimated cost to about ₹304 crore.
The project faced further delays due to Covid-19 pandemic, site issues and contractor default. When the original contractor failed to complete the work, the contract was terminated and the firm was blacklisted in May 2022.
New tenders were issued, and in October 2022, a new contractor was awarded the remaining civil works contract for around ₹92 crore.
By 2023, the building's structure was ready so in November that year, IIT-Delhi was engaged to check the building's structural safety. Following its recommendation to strengthen columns, retrofitting work was awarded, initially worth about ₹29 crore and later revised to around ₹31 crore.
The cost rose from ₹92 crore to roughly ₹128 crore, including ₹21 crore for designer tiles, wall panelling and finishing, and ₹15 crore more for carpet and interior upgrades suggested by senior officials.
Electrical works, first estimated to cost around ₹81 crore, saw an increase of ₹8.5 crore due to design changes, around ₹1 crore for an audio-video conference system, taking the total to about ₹91 crore.
Other works included ₹13 crore for furniture and around ₹9 crore for PU flooring.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
14 minutes ago
- News18
IITian Faced 75 Rejections But Went On To Build A Billion-Dollar Empire. His Company Is...
Last Updated: An IITian who faced 75 rejections in securing financial backing for his startup idea, today owns multibillion-dollar company. Success stories of various IIT graduates come to the fore, about them working in top multinational companies. However, one success story of building a brand value worth 6,700 crore within a decade has inspired numerous youths. One such example is that of Pavan Guntupalli, who co-founded the bike-taxi platform Rapido. Once finding financial backing for his innovative idea, Guntupalli's Rapido now operates in over 100 cities in the country and has crossed 5 crore app downloads. Who Is Pavan Guntupalli? He hails from Telangana and cleared the highly competitive IIT-JEE exam and pursued BTech from IIT Kharagpur. After his graduation, he started his career at Samsung. He went on to become co-founder of 'theKarrier", a logistics startup, with his friend. However, he got a setback when his startup did not succeed and was shut down. Not discouraged by this failure, Guntupalli started Rapido, a bike-taxi service meant to offer affordable and easy travel options like bike rides and auto-rickshaws for people who needed quick and low-cost transport. But getting investors to support the idea was very difficult. Pavan faced many rejections — 75 investors turned him down, doubting whether Rapido could stand up to big companies like Uber and Ola. What Turned Things Around For Guntupalli? Pavan Munjal, Chairman of Hero MotoCorp, saw potential in the IITian's vision and extended financial backing to Rapido, further paving the way for other investors. This resulted in the official launch of Rapido in 2016. Unlike Ola and Uber, which mainly focused on big cities in India, Rapido took a different approach. Pavan and his team targeted tier 1 and tier 2 cities, where daily travel problems were common. In the beginning, Rapido offered a low pricing model — a base fare of Rs 15 and Rs 3 per kilometer — which made it affordable but hard to make profits. Despite challenges, Rapido grew steadily. Today, it operates in over 100 cities across India. The Rapido app has around 7 lakh active users and a team of 50,000 riders, whom the company calls 'captains." Rapido is currently valued at a strong Rs 6,700 crore. Swiggy, the popular food delivery company, is one of its major investors. Rapido now earns over Rs 1,370 crore in annual revenue. view comments First Published: July 13, 2025, 15:08 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
34 minutes ago
- Hindustan Times
Nitish Kumar plans to provide jobs to one crore youth in Bihar by 2030
Ahead of the upcoming Bihar Assembly elections, Chief Minister Nitish Kumar on Sunday announced an ambitious plan to provide government jobs and employment opportunities to one crore youth in the state over the next five years. Bihar CM further highlighted that the state government provided over 8 lakh government jobs to youths between 2005 to 2025.(Photo by Santosh Kumar/ Hindustan Times) Doubling the previous target set for the 2020-2025 period, the Chief Minister said that the state government is on its way to achieve the 2020-2025 target of employing 50 lakh youths, as it has provided government jobs to 10 lakh youths and employment to approximately 39 lakh people. He said that to achieve this new target, employment opportunities will be created in the private sector with special emphasis on industrial areas. A high-level committee will also be constituted. "I am delighted to share that, so far, 10 lakh youth in the state have been provided with government jobs, and approximately 39 lakh people have been given employment, and the target of providing government jobs/employment to over 50 lakh youth will certainly be achieved," CM Nitish Kumar wrote in a post on X. "In this context, for the next five years (2025 to 2030), we are setting a target to double the 2020-25 goal by providing government jobs and employment to one crore youth. To achieve this, new job and employment opportunities will also be created in the private sector, particularly in industrial areas. For this purpose, a high-level committee is being constituted," he added. Bihar CM further highlighted that the state government provided over 8 lakh government jobs to youths between 2005 to 2025. "It has been our vision from the beginning to ensure that more and more youth in the state receive government jobs and employment opportunities. Between 2005 and 2020, over 8 lakh youth in the state were provided with government jobs." He announced that Jananayak Karpoori Thakur Skill University will be established under the Saat Nischay scheme to provide skill development training to connect them with self-employment opportunities. "In the next five years, the ongoing program under Saat Nischay for youth skill development will be expanded. In the coming time, a skill university will be established for skill development, which will be named Jananayak Karpoori Thakur Skill University in honour of Bihar's pride, Bharat Ratna Jananayak Karpuri Thakur ji, so that the youth of the state can find a new direction in skill development," he said. The Bihar elections are expected to be held later this year, tentatively in October or November. The Election Commission of India (ECI) has not yet announced the exact dates.
Fibre2Fashion
2 hours ago
- Fibre2Fashion
Jun 2025 US logistics managers' index up 1.3 points MoM to 60.7
The June US logistics manager's index (LMI) was 60.7—up by 1.3 points from May's reading of 59.4. The increase in the overall index was driven by an increase in the rate of expansion for inventory levels, which was up by 8.3 points to 59.8. The June US logistics manager's index was 60.7â€'up by 1.3 points from May's 59.4â€'driven by a rise in the rate of expansion for inventory levels. The movement back above 60 marks only the third time since July 2022. As all three of those readings have come in the last six months indicates the heightened, and somewhat unseasonal, level of activity that has been seen in the supply chain in H1 2025. This expansion mostly occurred in the first half of June, when the metric read in at a robust 67.4 as importers scrambled to take advantage of the pause in the most punitive tariffs, an official release said. The movement back above 60 marks only the third time since July 2022. All three of those readings above 60 have come in 2025, which is a marked shift from 2023 and 2024 when that threshold was never breached in the overall index. The fact that all three of those readings have come in the last six months is indicative of the heightened, and somewhat unseasonal, level of activity that has been witnessed in the supply chain through the first half of 2025. While this has been positive in the short-run, it does raise questions on whether the same level of demand will be present in the second half of the year when we would normally see it picking up, the release observed. The uncertainty exists due to both the high levels of inventory already in the U.S., as well as the continued ambiguity regarding future U.S. trade policy. Inventory levels expansion declined to 52.2 in the second half of the month. The influx of inventories led inventory costs to rise by 2.5 points to 80.9, the first time this metric has been above 80 since October 2022, when supply chains were still in the throes of the post-COVID inventory bullwhip, an official release said. The effects of the continued inventory buildup are also evident in warehousing capacity dropping by 2.2 points to 47.8, contracting for the first time since January 2023. Similar to last month, the LMI transportation metrics are relatively stable, although it is worth noting that transportation capacity dropped by 2.3 points to 52.4, which is close to contraction. Transportation capacity has not contracted since March 2022, and therefore, if this trend continues, it would mark a real shift. Transportation utilization (plus 0.3) and transportation prices (minus 1.1) were relatively steady. The swings seen with inventories have kept freight markets humming at a steady, if not spectacular pace, the release noted. The most direct evidence of the strain of the high levels of inventories being held in supply chains can be seen in warehousing capacity, which was down by 2.2 point to 47.8. This is the first time this metric has been in contraction since January 2023. The contraction in available capacity is driven by smaller respondents, who reported steep contraction at 43.3 to the mild expansion of 53.2 reported by their larger counterparts. Due to this, smaller firms also reported warehousing prices expanding faster than larger respondents at a rate of 71.7 to 64.9. Warehousing utilisation expansion was down very slightly (minus 0.3) to 62.2 in June. It was statistically significantly higher upstream, where respondents reported expansion of 65.7 in stark contrast with the 53.8 reported downstream. This is likely reflective of the fact that downstream firms were already utilising much of their available capacity and upstream firms are taking on most of the new inventory that is being imported into the country. Despite this difference, both groups of respondents predicted strong growth for warehousing prices at 69.9 upstream and 65.2 downstream. These figures are fairly consistent with current warehousing pricing, which is expanding at a rate of 68.3—still high but down (minus 3.8) from May's reading. Researchers at Arizona State University, Colorado State University, Florida Atlantic University, Rutgers University, and the University of Nevada, Reno, and in conjunction with the Council of Supply Chain Management Professionals (CSCMP) issue the LMI report. The LMI score is a combination of eight unique components that make up the logistics industry: inventory levels and costs, warehousing capacity, utilisation, and prices, and transportation capacity, utilisation, and prices. Fibre2Fashion News Desk (DS)
