Ambani Brothers Won Karnataka IT Project

February 23, 2007	(2 votes, average: 3.5 out of 5)  Loading ...
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Of 24 bidders, only Ambani Brothers have been shortlisted for the exclusive project of the development of 10,000 acre Knowledge City involving a whopping investment of Rs. 50,000 crore. The City would be catering to the demanding requirements of the IT industry’s growth in Karnataka. The other property developers bidded for the project were from across the globe, including players from Dubai, Europe and Asia.

The project will come up in Bidadi, situated 25 km from the city limits of Bangalore.  The residential requirement of IT employers is shooting up day by day. For that reason, the plans were drawn up to develop such a township meeting the accommodation needs that is likely to grow by 30% in the next 10 years.

The project would be an integrated township, featuring commercial spaces, residential colonies, hospitals, shopping arcades, schools and an array of other required facilities, said M N Vidhyashankar, secretary - IT, biotechnology and science & technology, Karnataka government.

Ambani Brothers will get the land to develop by April this year and the work in the initial phase is expected to execute during the second half of the year. It would take around 18 months for the first phase of the proposed township to get completed.

The Knowledge city will have an excellent connectivity with the upcoming Bangalore International Airport by an eight-lane highway, which when completed will connect the airport and the Knowledge City in a 30-minute drive.

News Published Under:   Real Estate India |

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