DFL Ltd. gets contract for Bidadi Knowledge CityRealty developer, DLF Ltd. has bagged the contract to develop a 9,187-acre Bidadi Knowledge City, which will be positioned as New Bangalore.
Apnaloan.com Research Bureau
02 Oct 2007
Realty developer, DLF Ltd. will develop a 9,187-acre
knowledge city in Karnataka called the Bidadi Knowledge City. The project is
three times the size of DLF City, the realty firm's flagship integrated
township in Gurgaon with an estimated investment of over Rs 60,000 crore.
The Knowledge city will be developed in a 50:50 joint venture with Limitless Holdings - a sister company of Nakheel and a part of the diversified Dubai World group.
DLF will also sponsor a $1-1.5 billion fund to finance the three townships it is developing with Nakheel. The Bidadi Knowledge City will be based on the walk-to-work ideology, comprising of high-quality office space, residential developments, shopping malls, multiplexes, hotels and service apartments.
The Knowledge City is located around 30 km from Bangalore and 15 km from Mysore, between NH-209 and Bangalore-Mysore Expressway. Its proximity to the Bangalore-Mysore railway line gives it an additional advantage of being on the Southern Freight Corridor.
It is also just 30 km from the existing international airport and 60 km from the upcoming Bangalore International Airport, to which to which it will be connected by an expressway. DLF, however, is also planning to develop airports and metro stations within the township.