Bengaluru Express
Bengaluru, Oct. 16:
In a major landmark decision, the cabinet on Thursday gave its nod for the commissioning of Bengaluru Business Corridor (BBC) project, formerly the Peripheral Ring Road (PRR) by offering multiple choices to farmers and landlords to ensure smooth completion of the project.
Addressing the mediapersons after the cabinet meet DCM DK Shivakumar announced that the BBC was earlier proposed for 100 mtrs with and to make it viable for both BBC and farmers the width of the road has been restricted to 65 mtrs while the remaining 35 mtrs will be utilised to provide compensation to farmers. Besides, provision will be at the centre for the construction of a metro line in the future, DCM Shivakumar said.
Land losers have the option to choose 35 per cent of the commercial land along the BBC or residential land at BDA formed layout or Transferable Development Right (TDR) that can be sold to needy or utilisation of Floor Area Ratio (FAR) on their remaining land and cash compensation as per the market price for land lost upto 20 guntas only, he said.
In an attempt to ease congestion in Bengaluru, the Cabinet approved 117-km BBC, to connect the Electronic City with Tumakuru Road and Mysuru Road. It will be a tolled corridor, he added.
The corridor is expected to be completed in two years. Earlier, the estimated cost was Rs 27,000 crore, but it would be reduced to ₹17,000 crore by giving four options of compensation to land losers. The Bengaluru Development Authority (BDA) would develop the BBC. The HUDCO has decided to lend to the project.
The BBC will become a landmark project that transforms connectivity,
Two times guidance value:
The compensation will be two times the guidance value in the corridor’s stretches passing through urban areas and three times the value in rural areas. The other compensation schemes include granting additional FAR for those losing the land or issuing “TDR as per BBMP” (now GBA) norms, he said.
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