Bengaluru Business Corridor project gears up with full HUDCO funding of ₹27,000 crore: Report
This crucial infrastructure project aims to connect Tumakuru Road with Hosur Road.
The ambitious Bengaluru Business Corridor (BBC) project, also known as the Peripheral Ring Road (PRR), has received a boost as the Housing and Urban Development Corporation Limited (HUDCO) confirmed 100 per cent funding of ₹27,000 crore to the Bangalore Development Authority (BDA),The New Indian Express reported.
According to the report, on Monday, eight new land acquisition officers were appointed to the BDA, tasked with expediting land acquisition for the 73-km road corridor.
HUDCO is a public sector company in India that finances housing and urban development projects.
(Also Read: After World Bank, HUDCO to lend ₹11,000 crore for Amaravati capital project)
Project details
This crucial infrastructure project aims to connect Tumakuru Road with Hosur Road, traversing key points such as Doddaballapur Road, Bellary Road, and Old Madras Road, the report added.
Additionally, a new BDA office will be established in Yelahanka, along with three other offices near the 76 villages where land acquisition is set to take place.
The project, covering 2,560 acres, has faced delays in acquiring government land, particularly 193 acres meant to be handed over at no cost to the BDA under a Government Order issued in 2022.
According to The New Indian Express, one of the primary challenges lies in determining rightful compensation recipients. To ease the process for landowners, the BDA is setting up satellite offices closer to affected communities, reducing the need for landowners to travel to the central BDA office.
The compensation payments and acquisition processes are expected to conclude within six months, the report added.
(Also Read: Noida airport: Yeida hires Hudco as consultant for fund management, urbanisation plans)
KWIN project
Recently, Karnataka Chief Minister Siddaramaiah, along with his cabinet ministers, launched Knowledge, Wellbeing, and Innovation (KWIN) City near Bengaluru. This project was earlier called Knowledge, Health, Innovation, and Research (KHIR) City, but it has now been renamed KWIN City.
The project aims to create a parallel city to Bengaluru for equal growth and opportunities in all sectors within an accessible distance to Karnataka’s capital. After taking all the suggestions, the state government rounded off the area between Doddaspete and Doddaballapur, which is roughly 60 kilometres from Bengaluru. This will be built in a total of 2000 acres of land which is on the Satellite Town Ring Road. (STRR)