Bengaluru: The Bangalore Development Authority (BDA) is making efforts to mobilise funds for acquisition of land to revive the Peripheral Ring Road (PRR) project. The BDA requires more than Rs. 8,000 crore to acquire over 1,800 acres spread across 51 villages.
The project connects Tumakuru Road to Hosur Road via Ballari Road, Old Madras Road and Sarjapur Road, covering a distance of 65 kilometres. A special purpose vehicle (SPV), headed by the Chief Secretary, has been established to ‘expedite’ the project.
The officials said even if the authority manages to mobilise the funds in a phased manner, it can start the project from Tumakuru Road to Ballari Road, which will benefit people travelling to Kempegowda International Airport (KIA). “The JICA has already agreed to fund the project cost of Rs. 3,500 crore. If the BDA manages to mobilise funds, the project could be initiated from Tumakuru to Ballari Road,” an official said.
The proposed road would start from Tumakuru Road at Makali and intersect Ballari Road at Hosahalli.
In addition to borrowing money, the BDA is contemplating other options, such as exploring the commercial potential of the land available on the stretch, providing additional TDR, and allotting developed land to farmers.
