Bengaluru, 16 Oct 

The State Cabinet on Thursday approved the renaming of Peripheral Ring Road to ‘Bengaluru Business Corrdior’ (BBC).

Briefing reporters after the Cabinet meeting, Deputy Chief Minister DK Shivakumar said that the notifications had previously been issued for the 117-km PRR from Tumakuru to Electronic City, but no decision was taken till now.

"Previous governments wanted to drop it. Now an alternative road is needed. We thought no road will be denotified," Shivakumar, who holds Bengaluru development portfolio, said.

The notification is for 100-metre road, but it will only be 65-metre wide.  The remaining 35 metres will be given back to people who lost their land to carry out commercial activities.

"Thirty five per cent road will be given back to farmers as compensation. If someone wants for residential purpose, then we will give 40 per cent," Shivakumar said.

There will also be provision for cash compensation up to 20 guntas of land (half an acre).

Shivakumar said those who want Floor Area Ratio (FAR) instead of land compensation will be provided the same so that they can utilise the area adjacent to the FAR land. Also, there will be a provision to give compensation in the form of Transferable Development Rights.

"We are ready to give two times TDR or we will give alternative Bangalore Development Authority land," the Deputy CM said. "If someone does not want to take money, then we will acquire the land and deposit the amount in the court.”

The project cost is about Rs 27,000 crore. Shivakumar said the government may take a loan. 

Following the new compensation policy, the project cost may reduce by Rs 10,000 crore, he said, adding the project may require 1,800 acres of land on the north side of the City.