BENGALURU: To fast track Bangalore Development Authority's Rs 27,000-crore Bengaluru Business Corridor (previously known as Peripheral Ring Road) project, which received the Cabinet nod a fortnight ago to raise loans from government lending institutions, the State government has ordered deputation of staff from other departments. The Authority is now busy sifting through land documents submitted by owners for compensation.
A Government Order was published, detailing multiple aspects pertaining to the Corridor. The project was proposed 19 years ago to decongest the city. The 73.03-km circular road, coming up on 2,560 acres of land, will begin from Tumakuru Road and pass via Doddaballapur Road, Ballari Road, Old Madras Road and Whitefield Road, before terminating at Hosur Road.
It will be a bonanza for those parting with their land for the project, as compensation will be paid as the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. Landlosers will be paid double the market value for the land acquired.
A senior BDA official said, "We have started crosschecking documents submitted to us during land acquisition so that compensation can be paid to the rightful owner."
He said the lending agency will be finalised soon. "We are trying for funding from both Housing and Urban Development Corporation Limited (HUDCO) and REC Limited. Most probably, we will secure funds from HUDCO as it is willing to offer 100 per cent loan. However, we want HUDCO to reduce the 9% interest proposed, and are negotiating with it. REC conveyed its inability to bear the full project cost."
To ensure that shortage of manpower does not impact project work, the government has ordered deputation of staff from BBMP, PWD and other government departments, said another official. These cadres have been deputed for a one-year period: eight special land acquisition officers, eight tahsildars, eight deputy tahsildars, one assistant director for land records, 10 assistant engineers, one revenue inspector, eight first division assistants, eight surveyors, two survey supervisors and 16 data entry operators. Additionally, nine land acquisition officers of Dr Shivarama Karanth Layout (which is yet to be allotted) have been given additional charge of the BBC project.
Deputy Chief Minister DK Shivakumar was made head of the project earlier, but will now be replaced by a top bureaucrat.