The UDD (Urban Development Department) has worked out a four year blueprint for implementing the PRR (Peripheral Ring Road) project which will finish the NICE Road stretch between Hosur Road and Tumakuru Road. Approval has already been garnered from the State Cabinet and the full land acquisition cost will get funding from the government. Bids will be invited for development over the next 3-4 months as per reports. The Government set up an SPV (special purpose vehicle) named the Bangalore PRR Development Corporation for swiftly executing this project which is estimated to be worth around Rs. 17, 313 crore.
The Government has to acquire 1810 acres of land via land to land compensation through cash or TDR (transferable development rights). Around 80% of land will have to be acquired via cash compensation, the costs of which could run to Rs. 10, 176 crore. The Peripheral Ring Road construction is estimated to cost close to Rs. 6, 885 crore. A long-term loan is also being considered from JICA (Japan International Cooperation Agency) for funding a portion of the infrastructural costs.
The Peripheral Ring Road is expected to be wider as compared to the Outer Ring Road of 65 kilometres and NICE Road of 41 kilometres. The NICE Road has four lanes and there are 6 lanes for the ORR. The PRR will include an 8-lane main road along with four-lane service roads and a wide median for mass transit systems like the metro. The PRR will be Bangalore’s third ring road after the Outer Ring Road and Inner Ring Road which see a high amount of traffic. The PRR will link the NICE Road and the project road links 10 key highways including the Doddaballapura Road, Hesaraghatta Road, Sarjapur Road, Ballari Road and Hennur-Bagalur Road. Overall 5 state highways and four national highways are intersected by the PRR.