Government to Finance Land Acquisition for Bengaluru’s Peripheral Ring Road Project
The state government of Karnataka has decided to take on the responsibility of acquiring 3,500 acres of land needed for the construction of a 74-km peripheral ring road (PRR) project in Bengaluru. This decision, made during a meeting chaired by Chief Minister Siddaramaiah, aims to give a boost to the much-awaited project that seeks to alleviate traffic congestion in the city’s outskirts.
With the Bangalore Development Authority (BDA) struggling to attract bidders for the Rs 27,000-crore project, the government has stepped in to bear the burden of land acquisition costs. The private sector was initially expected to fund both land acquisition and construction expenses.
Minister Siddaramaiah has directed the BDA to present financial strategies to the state Cabinet for the project. Sources indicate that the government will secure a loan to cover land acquisition costs while the construction expenses may be funded by the Japan International Cooperation Agency (JICA).
To expedite the project, the government plans to auction land along the PRR to repay the loan in the future. Additionally, adjustments may be made to reduce land acquisition costs, such as narrowing the road width to 50 metres instead of the original 100 metres.
Deputy Chief Minister D K Shivakumar initiated the meeting to address these crucial developments in the PRR project, demonstrating the government’s commitment to enhancing Bengaluru’s infrastructure.
Published on 17 July 2024, 21:03 IST
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