BENGALURU: The Karnataka Cabinet, on Tuesday, September 17, clears modified Peripheral Ring Road (PRR) project in Bengaluru. The estimated project cost is ₹11,950 crore, including land acquisition.
The PRR, when completed will connect Tumakuru Road and Hosur Road through Ballari Road and Old Madras Road. The project will be a 65-km road project with a width of 100 meters covering half of the city’s western-eastern-southern suburbs.
B S Yediyurappa, Chief Minister of Karnataka, who chaired the cabinet meeting along with C.N. Ashwathnarayan, Deputy Chief Minister, while addressing the reporters said, the Cabinet approved ₹8,100 crore for land acquisition and ₹3,850 crore for developing the road.
As per the revised terms under the Land Acquisition Act, the government would pay compensation to owners of less than two acres. Owners losing more than two acres of land would be given a compensation of 50 per cent of the land and Transfer of Development Rights (TDR) would be offered for the rest of the land. Further, the Deputy CM said that there is no space for commercial activities in the PRR.
The Deputy CM said, while the government would incur the expenditure for acquisition of 1,810 acres, funds would be borrowed from the Japan International Cooperation Agency (JICA) for implementing the project. Toll charges would be collected from road users, he said.
The proposed road would have cycle paths and service roads. A special purpose vehicle (SPV) would be established for implementing the mega project, which would be completed in three years.