Friday, 17 March 2017

Real Estate in Bangalore May Compete with Realty in Proposed City

Real estate in Bangalore may soon have to vie for buyers in competition with another city that may be built in close proximity to Bangalore. A new city may be built in the Kolar Gold Fields if the Karnataka Government is serious about decongesting Bangalore by creating another city in the vicinity of the IT Capital of India. Decongesting Bangalore is certainly a dreamy goal and citizens of Bangalore would love to live a city that has fewer people. If traffic in Bangalore becomes more manageable then New projects in Bangalore will become more attractive to buyers. The Karnataka government hopes to relocate 2 million people from Bangalore to this planned city.

Is It Full Steam Ahead?
The urban development minister R Roshan Baig announced to reporters that the city, once completed would stand on 11,000 acres of abandoned mining land in Kolar which is about one hundred kilometres from Bangalore. Bangalore is known as the city of lakes and gardens and those who live in apartments in Bangalore enjoy a beautiful view of the greenery in Bangalore. The planned city on the Kolar Gold Fields is likely not to be as richly endowed with water as is Bangalore since the drinking water needs of this city are expected to be met with the use of desalinization plants that will desalinate water brought from Mangaluru.

Similar Thoughts as Others
Property in Bangalore is thriving in no small reason due to the plentiful lakes in the city. The authorities in Chennai, however, hope to use desalinization plants to supply households in Chennai with plentiful water. Tamil Naidu has proposed to set us two desalinization plants, at Minjur and Nammeli at a combined cost exceeding one thousand crores.

The Proposed City

The city proposed is expected to be designed by global designers, the Karnataka authorities have planned to invite global tenders to design the city. A special purpose vehicle will be launched by bringing in private investors. If this city is built successfully, many of those travel upon the crowded streets of Bangalore and live in luxury apartments in Bangalore will have a smoother ride from home to work and back since nearly two million residents of Bangalore are expected to move to this proposed city. The cost of building this city shall only be known once a detailed project by a global agency is prepared. Those living in flats in Bangalore may have a great deal of time yet until the streets are less crowded than they are today. 

Post By Shrikant Sain

Table Of Content
For More Blogs Info To Click Hear

Ready to Move in Property in Hyderabad

1 comment: