The Hindu : Front Page : Devanahalli Business Park to come up on 263 acres of land

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Sunday, Jun 15, 2008
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Devanahalli Business Park to come up on 263 acres of land

Krishnaprasad

The lease rental agreement with the private partner will be for 30 years
The developer of the park has also been permitted to sub-lease a portion of the land

BANGALORE: After dilly-dallying over whether to sell or lease out the 413 acres of excess land acquired for the Bengaluru International Airport (BIA), the State Government has decided against selling the land. The land will be leased out to a private developer where a business park will be developed on a public-private partnership (PPP).

The proposed park, called Devanahalli Business Park, will come up on 263 acres of land and will include space for two information technology parks, two central business districts, a finance district, an international convention centre and hotel, an aviation academy, three health care units, a goods assembly centre, retail and entertainment, hospitality and office complexes.

Land allotment

Land will also be allotted to 14 departments of the State and Union governments to establish their offices and utility service centres.

About 84 acres of land will be allotted to the Police, Fire Force, Bangalore Metropolitan Transport Corporation, Bangalore Customs, Karnataka Beverages Corporation, Karnataka Power Transmission Corporation, Posts and Telegraphs, Bangalore Water Supply and Sewerage Board, Directorate General of Civil Aviation, New Mangalore Port Trust, Forest Department and Mysore Sales International.

Land for government agencies (which are not commercial and business in nature) will be sold at Rs. 3 crore an acre. The excess land was identified while surveying the land acquired for handing over to the Bangalore International Airport Limited, promoters of BIA, during 2005-06.

The lease rental agreement with the private partner will be for 30 years with a provision for extension for another 30 years.

Also, the private developer of the park has been permitted to sub-lease a portion of the land.

However, the extent of the portion to be subleased will be determined by the Government on the basis of pre-bid negotiations.

The developer has to construct a direct unhindered access road from NH-7 to the park at his own cost.

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