The Karnataka Cabinet on Thursday approved the peripheral ring road project and decided to rename it as ‘Bengaluru Business Corridor’ (BBC).
After the meeting, Deputy Chief Minister DK Shivakumar informed reporters that though notifications for the 117-km stretch from Tumakuru to Electronic City were issued earlier, no concrete decisions have been taken till now, as reported by PTI.
“Previous governments wanted to drop it. Now an alternative road is needed. We thought no road would be marked,” said Shivakumar, who holds the Bengaluru development portfolio.
The Deputy CM had earlier said that there was no provision for compensation but the government had adopted ways to provide compensation to those who lost their land.
Bangalore Business Corridor
The warning is for a 100 meter road but it will only be 65 meters wide. The remaining 35 meters will be returned to the losers to carry out commercial activities.
“Thirty-five percent of the road will be given back to farmers as compensation. It has value. If someone wants for residential purposes, we will give 40 percent,” said Shivakumar.
Cash compensation up to 20 guntas of land, which is half an acre, will also be fixed.
Shivakumar said those who want floor area ratio (FAR) instead of land compensation will provide the same to use the area adjacent to the FAR land.
Provision will also be made for the provision of compensation in the form of transferable development rights.
“We are ready to give double TDR or we will give alternative land to Bangalore Development Authority,” said the Deputy CM.
“If someone doesn’t want to take the money, we will acquire the land and deposit the amount in court,” he specified.
The price of the project is ₹27,000 crore, 117 km of new road
According to Shivakumar, the road will be tolled. It will also have service communication.
The price of the project is approx ₹27,000 crore and the government will take a loan for it.
“It is a new chapter in Benglaur. We are building 117 km of new road,” said Shivakumar.
He also clarified that the state government will not mark any land.
According to the new remuneration policy, project costs can be reduced by ₹10,000 crore, the deputy CM said, adding that the project may require 1,800 acres of land on the northern side of the city.
“This project will be completed within two years by BDA. The TDR value will be given as per BBMP rules, which is beneficial for those who lose land. I have asked the officers to make a system of TDR exchange,” said Shivakumar.
