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Bengaluru Business Corridor: As per the proposal, the circular road will span 73.03 kilometers and cover 2,560 acres of land. It will start from Tumakuru Road, pass via Doddaballapur Road, Ballari Road, Old Madras Road, and Whitefield Road, and end at Hosur Road.
The Bengaluru Business Corridor project, proposed 19 years ago, aims to reduce traffic congestion in the city.
(Representational photo | Source: Getty Images)
Bengaluru: To expedite the Bengaluru Business Corridor project, which will come up at an estimated expenditure of Rs 27,000 crore and was recently approved by the Cabinet, the Karnataka government decided to assign staff from other departments to help. At present, the Bangalore Development Authority (BDA) is reviewing land documents submitted by owners seeking compensation.
A government order has been issued that outlines various details about the business corridor. The Bengaluru Business Corridor project, proposed 19 years ago, aims to reduce traffic congestion in the city. As per the proposal, the circular road will span 73.03 kilometers and cover 2,560 acres of land. It will start from Tumakuru Road, pass via Doddaballapur Road, Ballari Road, Old Madras Road, and Whitefield Road, and end at Hosur Road.
Good compensation for those giving land for project
As per government sources, those who give up their land for the business corridor will benefit significantly, as they will receive compensation under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. Landowners will be compensated at double the market value for the land taken.
A senior official from the BDA said, “We are currently verifying the documents submitted for land acquisition to ensure that compensation is given to the rightful owners.”
Funding sources to be identified soon
The official said that the funding agency will be chosen soon. They are seeking loans from both Housing and Urban Development Corporation Limited (HUDCO) and REC Limited. HUDCO is likely to provide 100 per cent of the loan but is proposing a 9 per cent interest rate, which the BDA is negotiating to reduce. Meanwhile, the REC has indicated that it cannot cover the entire project cost.
To prevent staff shortages from delaying the project, the government has assigned personnel from the BBMP, PWD, and other departments. This includes eight special land acquisition officers, eight tahsildars, eight deputy tahsildars, one assistant director for land records, ten assistant engineers, and others. In addition to this, nine land acquisition officers from the Dr Shivarama Karanth Layout will also help with the Bengaluru Business Corridor.
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