Saturday, February 16, 2008

BMIC: Knowledge corridor in the making

BMIC: Knowledge corridor in the making
This expressway is more than just connectivity to Mysore. It will open up over 1,000 square km of space for development, writes B S Manu Rao

An expressway to Mysore, even as recently as a decade ago, would have been of interest largely to frequent travellers between the two cities. Those who lived in the city for a career, with roots in Mysore, would have like the idea of a 90-minute drive. To those who work in Bangalore but live in Mysore, it would have been a boon. Mysore has always been attractive as a holiday destination and the Dasara celebrations there are a big draw. This project would have found many champions in the tourism sector.
But today, the Bangalore Mysore Infrastructure Corridor project has a new dimension that overshadows the others. It is a 'knowledge corridor' that has a bearing on the regional economy. This new road to Mysore, with the one million jobs it promises to create, will be an economic hub that will link the two cities. It is this aspect of the project that is promising to corporates looking for a base, career seekers and entrepreneurs. The real estate sector will stand to gain with the huge demand for both commercial and residential space this project will create.
A corridor to Mysore with five integrated townships will mean development in the vicinity. It promises to change the dynamics of the region. This project, with the ensuing development will fuel growth and development of the commercial spectrum of this IT hub. The variety of opportunities, in different sectors, will translate into a host of opportunities for many ancillary industries. In the backdrop of a revolution in the retailing and entertainment segments unfolding in the city, this corridor will be another lever for players in these segments to tread new ground.
In terms of built space options, this corridor will have 58 crore sqft of area for development. This enables 72 crore sqft of built space, comprising commercial, industrial, residential and social infrastructure development. The turnover from here is estimated to cross Rs 60,000 crores per annum once the corridor is fully operational. The corridor will have IT, BT and some heavy industries such as steel processing and automobiles.
In terms of housing, the corridor is designed to have integrated development. The walk-to-work concept will be evident here. Eco-friendly public transport systems, signal-free traffic corridors, schools, hospitals and other such conveniences are part of the corridor to make it selfsufficient. The corridor will comprise 30 percent industries (IT, BT, food processing etc), 30 percent commercial (shopping, recreation etc), 30 percent highrise residential options, and 10 percent social infrastructure (schools, hospitals etc).
"It is very difficult to get large floor spaces in and around Bangalore today. If this is made available in the corridor, the IT sector will definitely be interested. Any IT company looking at an expansion will find this option interesting. All of us are looking at expansions and there is demand. This is good for those looking for careers in IT also", says C B Raghunandan General Manager, Wipro Ltd.
This expressway will entail development all around with the connectivity it brings to the region. "Mysore will see considerable development thanks to the connectivity this project creates. It will mean over 1,000 square km of opportunity for development. The 111-km road will see development to the extent of five km on either side, says Ashok Kheny, Managing Director, Nandi Infrastructure Corporation Ltd. "In all sense, it will make Mysore more attractive", agrees Raghunandan. With the large floor spaces and conveniences of integrated development, this corridor will be a major draw for both domestic and international IT companies.


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