TOP 10 DEVELOPMENTS IN NORTH BANGALORE
Devanahalli, with enhanced connectivity, is emerging as a sister city to Bangalore with major investments pouring in for development. A cumulative investment of close to Rs.1,15,000 crore worth would develop this once sedate location booming with activity tocompete with Bangalore in terms of business and social life. And this is apart from the investments coming in from the hospitality industry and the entertainment sector,which is expected to prop up this place as an ideal social location in addition to an industrial hub.
The State government has identified the area in Devanahalli taluk where about 10,000 acres of land would be acquired to set up the Information Technology Investment Region (ITIR).Also among the major projects reported to have received, the Udyog Mitra clearance forthe Aero SEZ (special economic zone), an aviation hub in Devanahalli, is expected to seemajor US civil and military aviation companies as well as the European Aeronautics andDefence Systems (EADS) pump in up to Rs. 11,700 crore as investment.The Indian initiatives at the SEZ would see Rs. 666 crore of investment from Sobha Nadathur Aerospace Pvt Ltd (Rs. 200 crore) and Dynamatic Technologies, manufacturersof hydraulic equipment (Rs. 466 crore).
1. Information Technology enabled services & Biotechnology (ITIR)
The ITIR is one of the largest infrastructure projects in Karnataka's history. Total cost isexpected to be one lakh crore rupees ($22 Billion). The initiative will provide direct employment to 1.2 million people and indirect employment to 2.8 million.
The proposed ITIR would be specifically delineated investment region with a minimum area of around 40 Sq.kms. (about 10,000 acres of land),which may include SpecialEconomic Zones, Industrial Parks, Export oriented units, Free trade and Warehousing zones. The ITIR would be a combination of production units, public utilities, logistics,environmental protection mechanisms, residential areas and administrative services,with excellent infrastructure.
2. Special Economic Zones (SEZ)
Owing to increasing demand for land from the multinational companies (MNCs) in the aerospace Special Economic Zone (SEZ) near Devanahalli with 3000 acres of land. The 900 acres which were acquired have already been allotted to 48 companies, including 100 acres to HAL.
Karnataka is the only State in the country to have a separate aerospace policy. As the aerospace industry is among the fastest growing industries, we are trying to capitalise on the growth
According to officials, the SEZ will comprise both export-oriented industries and industries that deal with maintenance, repair and overhaul-related activities in the local market. A few European companies, including British organisations, have already applied for land in the Devanahalli SEZ through the Karnataka Udyoga Mitra. Therefore, the government is likely to acquire land at the earliest.
3. Devanahalli Business Park
One of the biggest projects coming up adjacent to the Bengaluru International Airport(BIA), the Devanahalli Business Park (DBP) is expected to attract an investment of $2.2billion over the next five to seven years. Karnataka State Industrial Investment & Development Corporation Limited (KSIIDC), at the behest of Government of Karnataka (GoK), is developing DBP on the site of around 413.65 acres owned by KSIIDC along theNational Highway-7 (NH-7) and adjoining the northern boundary of Bengaluru International Airport (BIA) near Devanahalli, around 35 kms north of Bangalore city.
4.Aero Space Park
The park with facility for aircraft component manufacturing and accessories was being developed near the airport in 1000 acres area. About 250 acres of the land will be earmarked for a special economic zone (SEZ) in the aerospace hub.
The Aero SEZ is being worked out in collaboration with the US Aerospace Supplier Development Mission to India to introduce American companies to Indian joint-venture groups, industry representatives, and Western original equipment manufacturers based here. The SEZ would also introduce the US companies to industry and government officials here to learn about opportunities they can exploit through various aerospace programs.
5. Aerotropolis-Airport City
After marking its space in information technology and biotechnology, Karnataka has placed its bets on aerospace and expects to attract industries that by 2017 will invest $ 5 billion (around Rs. 30,000 crore at current exchange rates) and create 4,000 to 5,000 jobs in the highly skilled area.
Aerotropolis is a word that is created out of two words airport and metropolis. LikeSEZ, PCPIR or Chemical Hub, it is another new term that we must familiarize ourselveswith in order to understand the neoliberal onslaught on the masses. In short, it is anairport township. At its heart there would be an airport, which would be surrounded byresidential units, golf courses, hotels, multi-story residential high-rises, malls, etc. Theseare to be the new nerve centers of the modern civilisation.
6. Global Financial District
To promote the State as a global investment destination, the government is in talks withbanking giants to set up a Global Financial District near Devanahalli, spread over 150acres, which will also house a residential township. The district would provide specialized services for banks, insurance companies, stock exchanges and others playersin the financial services sector. Some of the features of this district are,
- An investment of about Rs. 1,000 crore planned in 150 acres of land
- 45 banks have shown interest to have their offices in the hub
- The project would include a township for the employees of the institutions in the district
- India Infrastructure Finance Corporation has come forward to set up the hub in association with the banks that show interest in investing on the project
7. Medical Tourism Hub
Karnataka provides phenomenal tax benefits for healthcare investors. With 39 medical colleges and a prestigious university like Rajiv Gandhi University of Health Sciences, there are adequate human resources. Favourable weather is another big factor for most medical specialists to stay on in Bangalore.
Karnataka State Tourism Development Corporation (KSTDC) would develop hub in 300 acres of land with facilities like private hospitals, diagnostic centers, Ayurvedic resorts and centers offering alternative systems of medicine .The projects approved by the authority are :
- Narayana Hrudayalaya Ltd to invest Rs.990 crores in 30 acres
- Manipal hospitals
- Health care global enterprises ltd to set up Comprehensive Cancer TreatmentCentre, Centre of Excellence in Oncology, Nursing College and Training Centrewith an investment of Rs.136 crores spread across 6 acres of area.
8. Banglore Turf club
The Karnataka Government has decided to shift the Bangalore Turf Club (BTC) located in the heart of the city to a new location, Chikkajala in Devanahalli taluk. Bangalore Turf Club with an investment of Rs. 350 crores has been planned to be set up in Devanahalli.
9. Hotel Projects
Zuri Hospitality India (Private) Ltd, Indian arm of the global Zuri Group promoted by a consortium of investors from the Middle East, Other hotel projects that are set to come up in this region include Oberoi at Bangalore International Airport, Hyatt Residency and Oberoi Luxury hotel in the Hebbal lake area,and Taj Airport Hotel and Holiday Inn at Devanahalli.
10. Residential Complexes
Multiple premium residential complexes coming up in and around Devanahalli are expected to bring ina total investment of Rs.1500 crores.
- Hiranandani Villas
- Ozone Urbana township
- Brigade Orchards from Brigade group.
- Embassy Housing Projects.