Saturday 21 December 2013

5 Major Urban Locations to Enhance Real Estate Development in Bangalore

To get the heat off of Bangalore, the government is developing towns and improving connectivity through expressways on the peripheral of the Bangalore City.  In regard to this, the Karnataka Urban Infrastructure Development Finance Corporation (KIUDFC) under the influence of Bangalore Metropolitan Region Development Authority (BMRDA) has planned to develop a ‘city cluster development project’ comprising an area about 8,005 sq km.

Mr. Suresh Kumar – Minister of Law and Urban Development Department said that BMRDA has intended to construct five satellite townships and expand them as self-reliable cities and the state government has approved the proposal of Bangalore Metropolitan Region Development Authority (BMRDA) in June 2006.

Currently, the proposal in presented before the Centre for approval and Mr. Kumar also explained that the ‘city cluster development project’ is designed majorly keeping 5 towns that include Bidadi in Ramnagara Taluk, which will developed as Knowledge City; Ramnagara will emerge as Healthcare City; Sathanur in Kanakapura Taluk will come-up as Textile/Apparel City; Solur in Magadi Taluk will be developed as Manufacturing City and Nadagudi in Hoskote will emerge as Hardware/Manufacturing City.  Furthermore, to improve the accessibility to these towns, a four-lane expressway will be proposed that will connect the Outer Ring Road (ORR) of Bangalore to these regions.

The minister also added that some of the significant plans under the ‘city cluster development project’ particularly the launch of International Airport in Devanahalli and the completion of peripheral road will definitely aid in the fast development of numerous urban areas such as Doddaballapur, Nelmangala, Malur, Vijayapura, and Hoskote.

The minister in addition stated that the ‘city cluster development project’ has also gauged the scattered absorption and recognized the five corridors for the growth of the real estate in Bangalore.  The five corridors that will improve the BMR development are Bangalore-Whitefield Corridor; Bangalore-Hosur Industrial Development Corridor; Bangalore-Nelamangal-Tumkur Corridor; New Internation Airport Corridor; and Bangalore-Ramanagara-Bidadi Corridor.  In accordance to this, the Asian Development Bank has also recognized the Bangalore-Tumkur-Mysore City Cluster as one of the rapid growing urban regions in India.

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