another garuda mall? - BJP ‘eagle’ lands prime project

another garuda mall? - BJP ‘eagle’ lands prime project
BY BHASKAR HEGDE AND R JAYAPRAKASH
BENGALURU








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The state cabinet has decid ed to award a multi-crore development project to a city developer with links to the BJP.

Briefing reporters after the cabinet meeting, rural development and panchayatraj minister, Shobha Karandlaje said that Maverick Holdings belonging to Uday Garudachar will develop the Ejipura EWS quarters.

For this, the government will hand over 16 acres of prime land worth over Rs 750 crore on the Koramangala Main Road to Maverick Holdings to develop it on the PPP model.

The project entails construction of over 1,500 apartment units, a shopping mall and parking complex. While the BBMP will get revenue for its land through a parking complex, the weaker sections will get houses and the developer 8 acres of land worth over Rs 150 crores.

The controversy over the project is four years old as Maverick Holdings and Akruthi Nirman were slugging it out in the court for the project till May this year. The matter had reached the court as Mumbai-based Akruthi Nirman was awarded the projected by the government as it was the lowest bidder in the tender called for the project late in 2005. In a dramatic turn of events, the decision stamped by stateowned iDECK was reversed by the BBMP council in favour of Maverick Holdings and cleared in a cabinet meeting on Thursday.

Ms Karandlaje said she did not know the details of the project or its projected value.