Bangalore, the IT hub of India, has witnessed phenomenal growth in the past few decades. However, with the expansion comes the challenge of managing the increased traffic and congestion. One of the key infrastructural developments in the pipeline for addressing these issues is the transformation of the Bangalore Peripheral Ring Road into a vibrant economic corridor.
In the fiscal year 2023, the residential property market experienced an unprecedented surge, witnessing a record-breaking Rs. 3.47 lakh crore (US$42 billion) in transactions, marking a robust 48 per cent year-on-year increase in home purchases.
In the proposed city, 15 per cent of the allotted land should be designated for educational institutes, such as research universities; 15 per cent for setting up healthcare facilities; 20 per cent for R&D centres and corporate offices of various industries; 10 per cent for startup spaces; 20 per cent for residential complexes; 15 per cent for commercial and retail spaces; and 5 per cent for government offices and utilities.
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