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Monday, October 01, 2007

DLF may build Bidadi knowledge city in Karnataka

Realty major DLF is learnt to have bagged the project for developing the 9,178-acre Bidadi Knowledge City in Karnataka. The land acquisition cost will be around Rs 3,600 crore and the total cost of the project, including development and sales, is estimated to be between Rs 50,000 crore and Rs 60,000 crore, said a source close to the development.

The project will be developed by DLF in a 50:50 joint venture with the Dubai-based firm Limitless Holdings, a part of Nakheel and Dubai World group. California-based architecture firm Berkely and design firm Calthorpe Associates have been appointed the master planners for the project.

The project is learnt to have been awarded to DLF following a global tender issued by the Bangalore Metropolitan Regional Development Authority (BMRDA). In all, 32 consortiums, formed by over 100 companies, had filed for the request for qualification (RFQ).

The project will be developed at about 30 km away from Bangalore and 15-km from Mysore. “It is aimed at supplementing the urban infrastructure of the area, and will be a world-class destination for professionals to live and work in,” sources said.

Located on the Bangalore-Mysore railway line and 30 km from the Bangalore airport, the township will have strategic connectivity advantage of being on the southern freight corridor.

The township is also likely to have a dedicated metro rail connection to Bangalore city. In order to boost existing connectivity, BMRDA is also working on a series of ring roads.

The township is set to be self-sustaining, and would be developed on the ideology of "walk-to-work." Apart from offices and residential developments, Bidadi Knowledge City will also comprise entertainment options like shopping malls, multiplexes, hotels and serviced apartments. Adequate power and water supply would also be made available to the township.

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