Bengaluru: Karnataka govt Thursday cleared the Rs 18,000-crore Greater Bengaluru integrated suburban township project, conceived as a ‘work-live-play’ plan. The 7,481-acre township will span across the entire Bengaluru South district, including Bidadi and Ramanagara. Nearly 6,650 acres of land has to be acquired from private parties.The project will see the state government stand guarantee for Rs 7,500 crore to be raised from housing finance institution Hudco, with the rest coming from Bangalore Development Authority and monetisation of CA sites within Bengaluru Metropolitan Region Development Authority by mortgaging sites to banks.According to law and parliamentary affairs minister HK Patil, the cabinet approved the compensation plan of over Rs 2 crore per acre or developed land of 9,693 square feet of developed property in lieu of one acre given for the project.
