Cabinet approves revised cost estimates required for eight new IIT's

Cabinet approves revised cost estimates required for eight new IIT

Submitted by alvin on Wed, 2016-06-29 19:51 New Delhi: The Cabinet today approved the revised cost estimates for construction of the permanent campuses for the eight new Indian Institute of Technology (IIT)'s set up at Bhubaneswar, Gandhinagar, Hyderabad,Indore, Jodhpur, Mandi, Patna and Ropar accorded in the academic year 2008-09. Each IIT typically has 10,000 students and requires about 50 lakh Sq.ft constructed area. In 2008, it was estimated that the cost of these campuses would cost Rs. 760 crores. The Cabinet noted that these estimates were prepared with 2006 Index rates and without the site survey that would have made them site specific and accurate. These IITs began to function without the identification and handing over of land for permanent campuses, further disadvantaging them. The land was provided by the State Governments later, in 2011-12. The Detailed Project Reports suffered from several infirmities, since they were based on a template and not on site specifics, and on already outdated index rates. As a result, the cost of land development was not included, or of key elements like power grid line to site and water supply, and several statutory taxes and cesses. (ANI)