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ADB to fund 8 new mega township projects in Bangalore

1 Comment Sub Category:Bangalore,Cities,Realty News,Residential Real Estate Posted On: Feb 01, 2013

Anti Development BankAsian Development Bank (ADB) is going to fund as many as eight new mega residential and industrial township clusters that are coming up in and around Bangalore at a cost of Rs 2,100 crore.

The upcoming projects required a total cost of Rs 2100 crore, in which ADB is expected to provide Rs 1400 crore funding. The new residential and industrial township clusters are planned primarily to free the city from congestion. The township will be well linked by road and rail and the project is expected to get completed in a few years although the initial discussions with the ADB have just started.

The eight clusters are panned in the following areas: Kanakapura-Nelamangala, Doddaballapur, Anekal-Jigani-Attibele, Devanahalli-Vijayapura, Magadi Hoskote-Krishnarajapuram, Ramanagaram-Channapatna and Dobbspet-Peenya.

A study has been conducted by the Karnataka Urban Infrastructure and Finance Corporation (KUIFC) and the Bangalore Metropolitan Region Development Authority (BMRDA) on the clusters based on the population (as per 2011 census) in the remote areas of Bangalore city.

The present population of the city is 1.01 crore, which is expected to touch around 1.80 crore in 2030 and consequently will increase demand for housing. The upgradation of the existing highway between Hubli and Dharwad to a six-lane expressway has been approved by the Cabinet. The total cost of the project will be Rs 82 crore approximately and the project is scheduled to be completed by January 2015.

Messrs Sagater Ventures Limited of Taiwan will implement a 200 mega watt solar power plant, which will come up at Challakere in Chitradurga district. According to sources, the state government will provide 1000 acres of land for the company for lease of around Rs 7000 per acre per year. A Taiwanese representative had recently visited Bangalore and presented the proposal to the state government.

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One Response to “ADB to fund 8 new mega township projects in Bangalore”

  1. [...] ADB to fund 8 new mega township projects in Bangalore [...]

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