Cost benefit analysis for rehabilitation of buildings: case of Indian Medical Association, New Delhi
by Esha Kapoor; Sushil Kumar Solanki; V.K. Paul
International Journal of Structural Engineering (IJSTRUCTE), Vol. 12, No. 4, 2022

Abstract: There has been a growing discussion on how to deal with old public buildings for over a decade as most of the prominent structures are in visible distress. Rehabilitation versus its demolition and new construction has been taken as the two alternatives in this paper in order to restore the functionality of its former self. The repair work costs and consultancy cost comes to be the factors with major costs in rehabilitation alternative while in new construction the majority of the cost besides direct construction cost is incurred from the loss of revenue and cost of new rental. The two alternatives are compared on the basis of their net present value of future cashflows, the equivalent annual annuity, the internal rate of return, payback period of initial investment and benefit/cost ratio. It has been analysed that apart from benefit/cost ratio, all the other comparative parameters favour the rehabilitation alternative. Further, a decision matrix has been developed to compare the alternatives with respect to factors impacting the decision to rehabilitate and the client objectives so that the selection is made from a holistic point of view rather than just on the economic factors.

Online publication date: Fri, 14-Oct-2022

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