7 months ago
2
For easing postulation successful Bengaluru, the Karnataka Cabinet connected Thursday approved the long-pending 117-km Bengaluru Business Corridor (BBC), formerly known arsenic the Peripheral Ring Road (PRR), to link the Electronic City with Tumakuru Road and Mysuru Road. It volition beryllium a tolled corridor.
Briefing the media aft the Cabinet meeting, Deputy Chief Minister D.K. Shivakumar said the corridor would beryllium completed successful 2 years. Earlier, the estimated outgo was ₹27,000 crore, but it would beryllium reduced to ₹17,000 crore by giving 4 options of compensation to onshore losers. The Bengaluru Development Authority (BDA) would make the BBC. The HUDCO has decided to lend to the project.
Much-delayed
The corridor, which was earlier planned successful 2007, has had its implementation delayed owing to respective reasons, including onshore acquisition cost.
Mr. Shivakumar said that the authorities has offered to farmers oregon onshore losers 5 options: compensation successful cash, Transferable Development Rights (TDR), utilisation of Floor Area Ratio (FAR) connected their remaining land, residential plots adjacent BDA layouts , and developed commercialized onshore (35% of land) successful the corridor.
The BBC volition go a landmark task that transforms connectivity, drives investment, and shapes the city’s adjacent signifier of growth.
Earlier, it was to beryllium a 100-m road. But now, the roadworthy would beryllium 65 m wide. To trim the load of compensation, it was decided to springiness 35 m of developed onshore adjacent the roadworthy to farmers for commercialized purposes. The compensation successful currency would beryllium fixed to those who suffer little than 20 guntas of land, helium said.
Two times guidance value
The compensation volition beryllium 2 times the guidance worth successful the corridor’s stretches passing done municipality areas and 3 times the worth successful agrarian areas. The different compensation schemes see granting further FAR for those losing the onshore oregon issuing “TDR arsenic per BBMP” (now GBA) norms, helium said.
Those who are seeking a residential site, he said the tract would beryllium fixed successful 1 of the BDA-developed layouts.
Apart from bringing down the wide outgo of the project, astir of which is required for onshore acquisition, the caller compensation measures for onshore losers are expected to velocity up the project, which has been successful limbo for astir 2 decades.
As galore arsenic 1,900 families volition beryllium affected by the onshore acquisition for the project, archetypal notified by the authorities successful 2007. Also, abstraction is provided astatine the centre for the operation of a metro enactment successful the future, Mr. Shivakumar said.
To further easiness postulation movement, tunnels and a cloverleaf interchange would beryllium constructed astatine a fewer points by the BDA. Mr. Shivakumar estimated that a simplification of astir 40% of the postulation entering the metropolis would hap erstwhile the corridor is constructed.
