HUDCO Approves Rs 270 Bn Loan for Peripheral Road Project

02 Jan 2025 CW Team

The Housing and Urban Development Corporation (HUDCO) has approved a loan of Rs 270 billion for the Bengaluru Development Authority (BDA) to fund the much-delayed Bangalore Business Corridor. As per the BDA, this long-pending project, which has been delayed for 16 years, is now expected to begin within the next two months. Two agencies are set to finalise the agreement soon, leading to the commencement of the project. Compensation for the land acquired from farmers will follow the BDA Act and the Land Acquisition Compensation Act. Breakdown of Project Costs Out of the Rs 27,000 crore loan, Rs 210 billion will be allocated for land acquisition, while the remaining Rs 6,000 crore is designated for road construction. A senior BDA official noted that the project involves developing a 100-metre wide route. The official further stated that land acquisition has already begun, as reported by the media. To maximise visibility for the project, it has been suggested that both sides of the route be utilised. A six-lane road will occupy 50 metres of the corridor, while the remaining land will be designated for business and commercial use. The BDA aims to complete the project within three years.

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