What Is The Construction Cost Of The New Parliament Building?

The stage is prepping up for the inauguration of the newly-constructed Parliament building amid the controversy around Prime Minister Narendra Modi inaugurating it.

The Congress and and other Opposition parties have raised objections, saying that the President of India should inaugurate the new Parliament building.

As the countdown for its inauguration has started, here we bring you the details of the construction cost of the new building.

What's The Cost of Construction of The New Parliament Building?

Prime Minister Narendra Modi laid the foundation stone of the New Parliament Building on December 10, 2020. Tata Projects had outbid L&T and bagged the contract to construct the new building for Rs 862 crore.

The L&T had quoted Rs 865 crore.

"Till date, only 2 projects of New Parliament Building with tendered cost Rs 862 crore and Redevelopment of Central Vista Avenue with tendered cost Rs 477 crore have been awarded and works are underway. Expenditure incurred on these 2 projects till March 2021 is Rs 195 crore and budget provision for 2021-22 is Rs 790 crore," the official website of the Central Vista project says.

The government, responding to a query in Lok Sabha, said that the estimated project cost was Rs 971 at the beginning and Tata Projects had emerged as the lowest tenderer in the open competitive bid.

However, the budget was revised in 2022, according to a report in NDTV. The cost incurred in construction was increased by another Rs 282 crore.

Originally, the plan was to complete the project 22-23 months. However, it has taken over 28 months to get ready.

The Cost Of The Current Building

However, the cost of construction of the current building was Rs 83 lakh in 1927.