Metro-hit may strike pay dirt

Metro-hit may strike pay dirt
Deccan Herald

Are Bangaloreans who are losing their land to the Metro project heading for a bumper offer? Going by the rehabilitation package designed by the Bangalore Metro Rail Corporation (BMRC), they just might. The BMRC has worked out “a rupee, plus one” deal as compensation for land losers....

Are Bangaloreans who are losing their land to the Metro project heading for a bumper offer? Going by the rehabilitation package designed by the Bangalore Metro Rail Corporation (BMRC), they just might. The BMRC has worked out “a rupee, plus one” deal as compensation for land losers.

The rehabilitation package that was earlier targeted only at “neighbourhood shopkeepers” is now going to encompass residential and large commercial property owners too.

Terming it as “replacement cost”, BMRC Managing Director V Madhu revealed that the package will bridge the gap between the market price and the compensation awarded by the Karnataka Industrial Areas Development Board (KIADB).

“The compensation awarded will be less than the market value of the land. We are therefore looking at our rehabilitation package to meet the expectations of the landowners. We do not want them to feel cheated, irrespective of whether they are rich or poor. We are providing a set of allowances which may not really affect the richer categories, but can largely benefit the small traders,” Mr Madhu said.

According to BMRC sources, the burden of the additional cost of the rehabilitation package could reach Rs 100 crore, which it is planning to absorb as part of its project expenditure. BMRC has already submitted a proposal to the government in this regard last week, and a decision is likely to be announced before the foundation laying ceremony of the project scheduled for June 24.

The decision on the Shivshankar Bhat committee report on the Metro route alignment on CMH Road and 100 Feet Road, Indiranagar will also be based on the provisions in the rehabilitation package.

PM arriving

Prime Minister Manmohan Singh will lay the foundation stone for the Metro project at the BRV police grounds on Saturday. Union Finance Minister P Chidambaram and Union Minister for Urban Development Jaipal Reddy are also expected to attend the function.

The Board for the Bangalore Metro project is likely to be reconstituted within a month, following which the shortlisting of the general consultants, and companies for construction of viaduct, design of Byappanahalli depot and other seven stations will be made, Mr Madhu revealed.