Developer have to pay up estimated land-acquisition cost over Rs 5,000 crore but also take up construction of road
BENGALURU:
The Karnataka Cabinet led by Chief Minister Basavaraj Bommai on Wednesday cleared the proposed Peripheral Ring Road project for Bengaluru.
Law and Parliamentary Affairs Minister J.C. Madhuswamy, briefing reporters after the Cabinet meeting, said the developer would have to not only pay up land-acquisition cost, which is estimated to be over Rs 5,000 crore, but also take up construction of the road.
The developer would be allowed to collect toll for 50 years and the road will have a width of 100 metres, Madhuswamy added.
The cabinet also gave its administrative approval for calling tenders to take up the project for building 71 kms of road.
