Karnataka Approves Bengaluru Business Corridor: Here's What You Need To Know
The Karnataka cabinet approved the long-awaited Peripheral Ring Road project, renaming it the 'Bengaluru Business Corridor' (BBC)
The Karnataka cabinet on Thursday approved the long-awaited Peripheral Ring Road project and renamed it the 'Bengaluru Business Corridor' (BBC).
Briefing reporters after the cabinet meeting, Deputy Chief Minister DK Shivakumar said the notifications were issued in the past for the 117-km PRR from Tumakuru to Electronic City, but no decisions were taken till now.
"With this project, a new chapter begins for Bengaluru. The 117-km road will be completed within two years by the BDA," Shivakumar declared, adding that officers have been tasked to create a TDR exchange system to further ease compensation complexities.
Bengaluru Business Corridor: Features
The renamed corridor will circle Bengaluru, connecting Tumakuru Road to Mysuru Road and passing through vital nodes such as Yelahanka, Whitefield, and Electronic City.
Of the entire stretch, 73 kilometres lie in North Bengaluru, with the remainder traversing the southern parts. Featuring a streamlined design, the corridor’s width has been revised from the initial 100 metres to 65 metres, mirroring the Bengaluru-Mysuru Motorway, and will include a five-metre median reserved for future Metro expansion.
Bengaluru Business Corridor: Investment
Estimated at Rs. 27,000 crore, the project will be executed by the Bengaluru Development Authority (BDA) and financed via a Housing and Urban Development Corporation (HUDCO) loan. However, the state anticipates that costs could drop to around Rs. 10,000 crore, depending on land acquisition choices and compensation agreements with affected landowners.
Compensation To Families Affected
With around 1,900 families set to be impacted, the government has introduced some compensation options, including double market-value payouts, developed commercial plots, or a share in BDA layouts. This multi-option plan aims to ensure fair deals and to speed up the land acquisition process, reducing delays that have plagued previous administrations.
Additional compensation methods include cash payouts for holdings up to 20 guntas (half an acre), the option for Floor Area Ratio (FAR) benefits, and Transferable Development Rights (TDR). "We are ready to give two times TDR, or we will give alternative Bangalore Development Authority land," said Shivakumar.
For those opting not to take direct monetary compensation, the government will acquire the land and deposit the appropriate amount with the court to prevent delays.
