DLF bags New Bangalore project, to spend Rs 60,000 crore

Real estate major DLF Ltd has bagged the project for developing Bidadi Knowledge City.

Real estate major DLF Ltd has bagged the project for developing Bidadi Knowledge City. Spread over 9,178 acres, this city will be positioned as New Bangalore and is expected to entail an investment of over Rs 60,000 crore. This is the biggest investment in a real estate project so far by an Indian developer.

The project will be developed by DLF in 50:50 joint venture (JV) with Dubai-based firm Limitless Holdings, a sister company of Nakheel, and part of the diversified Dubai World group. Berkely, a California-based architecture and design firm Calthorpe Associates has been appointed the master planner for this project.

The project was awarded to DLF following a global tender issued by the Bangalore Metropolitan Regional Development Authority (BMRDA). In all, 32 consortia, formed by over 100 companies, both Indian as well as international, had filed the request for qualification (RFQ).

According to sources close to the development, the project will be developed at about 30 km from Bangalore and 15 km from Mysore. Located on the Bangalore-Mysore Railway line, the city will enjoy the strategic connectivity advantage of being situated on the Southern Freight Corridor. The city will lie between NH 209 and the Bangalore-Mysore Expressway. It will be 30 km from the existing international airport and 60 km from Bangalore International Airport to which it will be connected by an expressway.

A court in Antwerp passed the order initiating the formal process of bringing Choksi back to India. But, he still has options to challenge the order passed by the lower court.

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