The ambitious Bengaluru Business Corridor (BBC) project, also known as Peripheral Ring Road (PRR), has received a boost as the Housing and Urban Development Corporation Limited (HUDCO) confirmed 100 percent financing of $27,000 crore to the Bengaluru Development Authority (BDA), The New Indian Express reported.

According to the report, eight new land acquisition officers were appointed to the BDA on Monday, with the task of expediting land acquisition for the 73-km road corridor.

HUDCO is a public sector undertaking in India that finances housing and urban development projects.

(Read also: After the World Bank, HUDCO will lend $11,000 crore for Amaravati capital project)

Project details

This crucial infrastructure project aims to connect Tumakuru Road with Hosur Road, passing through key points like Doddaballapur Road, Bellary Road and Old Madras Road, the report added.

Additionally, a new BDA office will be set up in Yelahanka, along with three other offices near the 76 villages where land acquisition will take place.

The project, covering 2,560 acres, has faced delays in acquiring government land, particularly 193 acres that will be handed over free of cost to the BDA under a Government Order issued in 2022.

According to The New Indian Express, one of the main challenges lies in determining the legitimate recipients of the compensation. To make the process easier for landowners, the BDA is establishing satellite offices closer to affected communities, reducing the need for landowners to travel to the BDA head office.

Compensation payments and procurement processes are expected to be concluded within six months, the report added.

(Read also: Noida Airport: Yeida hires Hudco as consultant for fund management and development plans)

kwin project

Recently, Karnataka Chief Minister Siddaramaiah, along with his cabinet ministers, inaugurated the Knowledge, Welfare and Innovation City (KWIN) near Bengaluru. This project was previously called Knowledge, Health, Innovation and Research (KHIR) City, but has now been renamed KWIN City.

The project aims to create a parallel city to Bengaluru to achieve equality of growth and opportunities across sectors within an accessible distance to the capital of Karnataka. After accepting all the suggestions, the state government completed the area between Doddaspete and Doddaballapur, which is about 60 kilometers from Bengaluru. This will be built on a total of 2000 acres of land lying on the Satellite Town bypass road. (STRR)