Tunnel road a ‘real estate project in disguise’, contend citizen groups
They have alleged that ancillary revenue in the form of real estate is being given “free” to the concessionaire, which they estimate could be as high as ₹30,000 crore for the entire concession period
Citizen groups in Bengaluru have labeled the state government's tunnel road project as a "real estate scheme in disguise." The Bengaluru Praja Vedike (BPV) has written to all city legislators, calling the project a "vanity infrastructure" and urging evidence-based planning. The group claims the project will generate ₹30,000 crore in ancillary revenue for the concessionaire, which could be used to toll-free the project.
The project includes five intermodal hubs at key junctions, which could generate ₹250 crore to ₹300 crore annually for the concessionaire. The draft concession agreement allows for up to 5 floors of retail space above the hubs, potentially increasing commercial real estate opportunities. The Opposition hopes to use this information against Chief Minister D.K. Shivakumar ahead of the Monsoon Session of the Karnataka legislature.
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