Bangalore Metro Rail eyes Rs.2000 Crore from Realty assets

Bangalore: In order to exploit realty assets along the Silk Board-KR Puram line by densification of residential and commercial establishments, the Bangalore Metro Rail Corporation (BMRCL), has decided to generate a staggering sum of Rs. 2,000 Crore to fund the project. Among other innovative initiatives, it will allow higher floor space index (FSI) for buildings in the vicinity of 1 km, so they can be multi-storied structure. In addition, it will also generate funds claiming betterment charges from upcoming and existing commercial properties in a 1 km radius of metro corridors, commercial exploitation of real estate in stations and trains through advertisements, and providing retail space, Managing Director Pradeep Singh Kharola said that using innovative techniques to raise money were becoming the hallmark of upcoming projects, especially the Central Silk Board to KR Puram line.

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