BDA plans to borrow to compensate farmers for Peripheral Ring Road project.

In a bid to revive the Peripheral Ring Road (PRR) project, the Bangalore Development Authority (BDA) is making efforts to mobilise funds for acquisition of land. The BDA requires more than than ₹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.

‘No word from NHAI’

A BDA official said, “Earlier, there were talks of the National Highway Authority of India (NHAI) taking up the project. The BDA had submitted documents to the NHAI, but till date we have not received any response from them. The project has been remained on paper for over a decade and farmers whose properties were notified are agitated due to the prolonged delay. As the cost involved in acquisition of the land is huge, we have no option but to borrow. Shortly, we will be approaching the State with a detailed presentation on fund mobilisation plans.”

Officials added that a tender has been floated to identify a project management consultant who will approach various financial institutions, including international ones, for funding.

Benefit to KIA passengers

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 ₹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.

“No doubt, huge borrowing is required to implement the project. But the project is financial viable as toll will be collected from vehicle owners,” an official said.

THE HINDU