Five residential hubs get sanction

Five residential hubs get sanction

R Jayaprakash | TNN



If you are trying to get a piece of Bangalore and the skyrocketing property prices are dampening your spirits, you have an opportunity to get a site for just Rs 500/sqft.
The BDA will allot up to 75,000 residential sites in five new layouts, for which the board meeting held on Monday gave its approval. This
notwithstanding the previous incomplete site allotments in the Arkavathy Layout, which ran into rough weather. More than 15,000 acres will be acquired across 56 villages dotted in peripheral areas to form five layouts. And this time, land-losers will be co-developers as the developed area will be shared between the BDA and the farmers on a 60:40 basis. There will be no monetary compensation; for every acre acquired, 9,583 sqft of developed land will be given to the land-loser. This is as per the new land policy finalised by the government recently. But this time, the sites will cost Rs 500/sqft as against Rs 230/sqft.
The initial survey for the project has been completed and the proposal will be sent to the government for approval within a fortnight. As part of the project, the BDA will build apartment complexes under PPP and 1.25 lakh houses will be allotted to the LIG, MIG and HIG categories.
Single, double and three BHK apartments will be constructed after inviting global tenders, where the built-up structures will be shared by the builder and the BDA. While BDA’s cost will be only land acquisition, the builder will put in the construction cost.
HI-TECH CORRIDOR
A 1,000-acre dedicated hi-tech corridor proposed in the CDP between Magadi Road and Mysore Road for clean industries will be taken up by KIADB and handled by department of IT/BT and science
The BDA board on Monday decided to hand over the project to the department and develop only the residential part of the project
The corridor will be around 17 to 29 km from the city centre and will house IT/ITeS industry. Till now, the IT concentration has been only in the Whitefield and Electronic City
The hi-tech corridor will have 10 integrated parks, each of 100-acre size on either side of a six-lane road and 60% of the area will be marked for residential purposes and guest houses, while 37% will be used for office space and the remaining 3% for commercial development like malls and multiplexes
LAYOUTS AND
THEIR LOCATIONS Kempe Gowda Layout — to be formed between Magadi Road-Mysore Road, spread over 4,814 acres, comprising 12 villages and 15 guntas
Shivaram Karanth Layout — between Yelahanka and Hesarghatta, 17 villages, spread over 3,546 acres 15 guntas
K C Reddy Layout — Hosur Road and Varthur, 9 villages measuring 2,034 acres, 14 guntas
Nijalingappa Layout - Varthur and Sarjapur, 8 villages, spread over 2,806 acres, 9 guntas
Devaraj Urs Layout - Airport Road and Varthur, 7 villages, 1,976 acres, 2 guntas
Located between 18-20 km from the city centre, connected with state highways and BDA’s proposed PRR