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The Construction Project Formulation and Appraisal Studio focuses on evaluating the feasibility of a three-level development project at a traffic junction. This traffic junction serves as a key connectivity hub, linking northwest Ahmedabad to central Ahmedabad. The primary objective of the project is to reduce congestion at the junction through a three-level development, including a flyover, an underpass, and junction redevelopment. The study involved an in-depth analysis, covering C-P-O analysis, location and demand analysis, stakeholder management, risk management, project baseline, and procurement strategies for consultants and contractors. Additionally, lean tools such as target value design and the Choosing by Advantage method were applied. The collective findings culminated in the preparation of the project's feasibility report.