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First phase of revived 117-km Bengaluru Business Corridor project to be completed by mid-2027: DK Shivakumar
Upon completion, the Bengaluru Business Corridor would connect NICE Road with Tumkur Road and Hosur Road via Hesaraghatta Road, Doddaballapur Road, Ballari Road, and Sarjapur Road, among others.
Bengaluru Development Minister D K Shivakumar said the Bengaluru Business Corridor project is being implemented without a budgetary allocation and on the basis of a loan from Hudco. (File photo)
The first phase of an ambitious Rs 26,000 crore Bengaluru Business Corridor project, which has been revived by the Congress government in Karnataka, will reach completion in about 18 months’ time, Deputy Chief Minister D K Shivakumar has said.
The 117-km business corridor project, formerly known as the Peripheral Ring Road project, has been touted as a solution for the perennial traffic problems seen on the periphery of the city. Speaking after reviewing the project’s implementation this week, Shivakumar, who is also the Bengaluru Development Minister, said its first phase would be completed by mid-2027.
“I had a review meeting on the Business Corridor project with BDA (Bengaluru Development Authority) officials. I gave away cheques, certificates and TDRs (Transferable Development Rights) to land owners. As many as 650 land owners have consented to give their land and we have given compensation to 400 land owners till now,” he said on Thursday.
The deputy chief minister said the project is being implemented without a budgetary allocation and on the basis of a loan from the Housing and Urban Development Corporation (Hudco). The Bengaluru Business Corridor Limited, a special purpose vehicle has been formed for the implementation of the project.
Upon completion, the project would connect NICE Road with Tumkur Road and Hosur Road via Hesaraghatta Road, Doddaballapur Road, Ballari Road, Hennur-Bagalur Road, Old Madras Road, Hoskote-Anekal Road, and Sarjapur Road.
After the project was revived last year, Shivakumar had said, “It will solve traffic congestion in the city to a large extent. It will significantly help businesses on Outer Ring Road (ORR) also.”
The Congress government has pushed ahead with the Business Corridor despite resistance from conservationists, land owners and demands for denotifying the land acquired for the project over 15 years ago.
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Of the total cost of the Business Corridor, 75 per cent will be raised as loans. The government has agreed to provide compensation under Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, to land owners, with relief also available under the TDR scheme.
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