Chandigarh: The Chandigarh administration has submitted a revised financial estimate of approximately ₹175 crore for the construction of the union territory’s first flyover at the sectors 29/31 roundabout to the Ministry of Road, Transport, and Highways (MoRTH). Initially allocated ₹137 crore in 2019, the revised estimate reflects an increase of ₹38 crore, primarily due to the inclusion of the Goods and Services Tax (GST) component amounting to ₹9 crore.
The updated financial estimate encompasses various cost factors beyond the core construction expenses and GST. These include contingency charges, maintenance costs, and supervision fees, all of which contribute to the overall financial enhancement of the project.
MoRTH had requested that the UT administration provide comprehensive project documents, particularly the Schedule of Rates (SOR) for items and other pertinent details aligned with the current financial framework of the project. These documents were presented during discussions with the ministry.
“All financial aspects have been meticulously evaluated and deliberated upon, leading to the finalisation of the revised amount. This process considered the prevailing market conditions, raw material costs, and associated price escalations,” stated sources. “Engagement with the selected contractor was a crucial part of the discussions in New Delhi, and he has expressed his agreement to proceed at the revised rates. The updated financial details were formulated after incorporating the perspectives of various stakeholders and considering the current financial landscape.”
The flyover project, a critical infrastructure development for the city, aims to alleviate traffic congestion at one of the busiest intersections in Chandigarh. The sectors 29/31 roundabout has long been a bottleneck, with increasing vehicular traffic necessitating a sustainable solution. The flyover is expected to streamline traffic flow, reduce travel time, and enhance overall connectivity in the region.
This project is part of a broader initiative by the Chandigarh administration to upgrade the city’s infrastructure in line with modern urban planning standards. The revised financial estimate underscores the administration’s commitment to transparency and meticulous financial planning, ensuring that the project is executed efficiently and within the updated budget.
As Chandigarh gears up for this significant infrastructure milestone, the focus remains on balancing development with fiscal responsibility. The administration’s proactive approach in revising and submitting the financial estimates for approval is a testament to its dedication to delivering impactful urban infrastructure projects.
The submission of the revised financial estimate marks a crucial step forward in the flyover project, bringing it closer to fruition and promising a significant improvement in the city’s transportation infrastructure.
