485 properties to be acquired by BBMP for signal free corridors
Bruhat Bangalore Mahanagara Palike is taking initiative to transform Bangalore roads into signal free corridors. The BBMP will acquire around 485 government and private properties for five signal free corridors in Bangalore City.
The total cost for the five signal free corridors will be around Rs 650 crores which is still way above the BBMP estimate. The Palike has send proposal for the land acquisation four months ago to the Revenue department. The necessary clearance is expected by this week.
According to sources, BBMP Commissioner has requested the Chief Minister to give a nod to start the project, which are pending for several years.
The proposed five signal free corridors are:
1) Dr Rajkumar Road (from Yeshwanthpur Circle to Okalipuram) BBMP will acquire 19 properties and around 29,048 sq ft.
2) OuterRingRoad (from Mysore Road to Central Silk Board junction) will acquire 137 properties with 93,594 sq ft land.
3) Hosur Road(from Central Silk Board to Vellara Junction). They will obtain 81 properties and the size of the land will be 99,973 sq ft.
4) Old Airport Road (from Vellara junction to Whitefield via Kundalahalli), 154 properties will be accquired for this stretch, approximately 3,73,845 sqft of land and
5) Mehkri Circle to Hope Farm (via Old Madras Road, Ulsoor Lake and KR Puram junction), 94 properties will be accquired for this stretch which will be around 1,65,084 sqft of land.
According to BBMP sources, the total measure of the properties to be acquired is around 17 acres and 20 guntas of which 154 properties will be acquired for Vellara Junction to NH-4 Kundalahalli- Whitefield.
BBMP will offer monetary compensation to the property losers instead of giving them Transferable Development Rights (TDR), although the Palike’s financial is not so good. The Palike officer said that they tried the TDR scheme to acquire the land but property owners do not seem to be happy with it. So the only choise is to paying monetary compensation.
The project will also include another infrastructure surgery near Kadirenahalli junction on the road that leads to Dayananda sagar group of institutions. BBMP has also planned for another underpass for Rs 11 crores.
The real estate market in Yeshwanthpur, Outer Ring Road, Whitefield and KR Puram is gaining momentum. One of the reason is the upcoming metro for the upward demand. These areas are going to witness more appreciation if the corridor projects are coming up.
