BDA considers taking a loan to purchase land for Peripheral Ring Road
ROADS & HIGHWAYS

BDA considers taking a loan to purchase land for Peripheral Ring Road

The Bangalore Development Authority (BDA) is currently in the process of securing loans from government lending institutions to cover the substantial land acquisition costs for the Rs 270 billion Bengaluru Business Corridor (Peripheral Ring Road) project. According to sources, the BDA has shortlisted four institutions for this purpose and has initiated preliminary discussions with them.

It is estimated that Rs 210 billion of the project cost, which was proposed 19 years ago, will be allocated solely for land acquisition. Previous efforts by the BDA, including three rounds of tendering, have not been successful. The project spans 73.01 kilometres, beginning at Tumakuru Road (NH-48) and passing through Doddaballapur Road, Ballari Road, Old Madras Road, Whitefield Road, before concluding at Hosur Road (NH-44).

Sources indicated that the BDA is considering Housing and Urban Development Corporation (HUDCO), REC, LIC Housing Finance, or the Karnataka Government Insurance Department for a loan to cover the project costs. The BDA plans to use these funds to compensate landowners. With the construction phase costing only Rs 60 billion, the BDA anticipates significant interest from bidders when the tender for civil works is issued.

The BDA also intends to apply for a loan to cover the entire project cost. It is expected that the lending agencies would provide 70-80 per cent of the project cost, which would be utilised for land acquisition.

The final decision on this matter will rest with the state government. The BDA is exploring all possible options to ensure the project commences as soon as possible.

The Bangalore Development Authority (BDA) is currently in the process of securing loans from government lending institutions to cover the substantial land acquisition costs for the Rs 270 billion Bengaluru Business Corridor (Peripheral Ring Road) project. According to sources, the BDA has shortlisted four institutions for this purpose and has initiated preliminary discussions with them. It is estimated that Rs 210 billion of the project cost, which was proposed 19 years ago, will be allocated solely for land acquisition. Previous efforts by the BDA, including three rounds of tendering, have not been successful. The project spans 73.01 kilometres, beginning at Tumakuru Road (NH-48) and passing through Doddaballapur Road, Ballari Road, Old Madras Road, Whitefield Road, before concluding at Hosur Road (NH-44). Sources indicated that the BDA is considering Housing and Urban Development Corporation (HUDCO), REC, LIC Housing Finance, or the Karnataka Government Insurance Department for a loan to cover the project costs. The BDA plans to use these funds to compensate landowners. With the construction phase costing only Rs 60 billion, the BDA anticipates significant interest from bidders when the tender for civil works is issued. The BDA also intends to apply for a loan to cover the entire project cost. It is expected that the lending agencies would provide 70-80 per cent of the project cost, which would be utilised for land acquisition. The final decision on this matter will rest with the state government. The BDA is exploring all possible options to ensure the project commences as soon as possible.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000