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, manufacturers of hydraulic equipment (Rs. 466 crore).
MoUs Signed at Global Inverstors Meet
The Global Investors Meet (GIM) was held in Bangalore Karnataka for 2 days on June 4 and June 5, 2010. During the meet 413 MoUs (Memorandum of Understandings) were signed of value Rs 4,73,382 crore. The details of the MoUs signed during the GIM for the projects located around Bangalore International Airport are set out in the table below.
|Company||Project||Location||Proposed investment (in Crores)||Employment Generation||Distance from Phase 2|
|Narayana Hrudayalaya Pvt. Ltd||To set up 5000 Bed Super Speciality Hospital, Star Category Hotel and Service Apartments||Singahalli, Bandikodigehalli & Bagalur||990||14,600||About 7 Kms|
|Shell Technology India Pvt Ltd||To set up Technology Centre for Oil & Gas related||KIADB Hardware Industrial Area, Devanahalli||1376||1200||About 5 Kms|
|Hindustan Aeronautics Limited (HAL)||To establish a unit for manufacture of “TPE 331 Engine and Engine components, Ring Rolling, Fan cases, Welded Structural assemblies, Maintenance, Repair and Overhaul of Civil Aircraft / Engines and Manufacture of Helicopters”||Aerospace SEZ, Devanahalli||2095||1631||About 6 kms|
|BEML Limited||To manufacture Aircraft Components / Assemblies and MRO Activites related to Aerospace Applications at Aerospace SEZ||Bangalore International Airport, Devanahalli||316||235||About 6 Kms|
|Dynamatic Technologies Limited||To manufacture Aerospace Components||KIADB Aerospace Industrial Area, Devenahalli||466||2100||About 6 kms|
|IFCI Infrastructure Development Limited||To establish a Financial City||Devanahalli Industrial Area||997||4300|
|Trishul Developers||To set up 5 Star Hotel, Office Space & Service Apartments||Hebbal||119||2100||About 12 kms|
|City View Bangalore Properties Private Limited||To set up Hotel, Office space and Serviced Apartment||Bellary road||971||760||About 10 kms|
|Healthcare Global Enterprises Ltd||Comprehensive Cancer Treatment Centre||Devanahalli||137||1,000||About 12 kms|
|Tata Elexi||Hardware Design And Development||Hardware Park, Devanahalli||486||8683||About 8 kms|
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 programmes.
The aerospace park is being located adjacent to a 1,000 acre electronic hardware park and a 1,000 acre software park, which will enable the aerospace industry to leverage the strengths of the IT sector. The park would include an aviation MRO‐related activities (maintenance, repair, and overhaul) and 250 acre of an export‐oriented aerospace SEZ.
Aerotropolis is a word that is created out of two words – airport, and metropolis. Like SEZ, PCPIR or Chemical Hub, it is another new term that we must familiarize ourselves with in order to understand the neoliberal onslaught on the masses. In short, it is an airport township. At its heart there would be an airport, which would be surrounded by residential units, golf courses, hotels, multi‐story residential high‐rises, malls, etc. These are to be the new nerve centers of the modern civilisation.
An Aerotropolis is a city in which the layout, infrastructure and economy are centered around a major airport. Experts in the field are of the opinion that airports will shape business location and urban development in this century as much as seaports did in the 18th Century, railroads in the 19th Century and highways in 20th Century.
The Airport City proposed to be developed would spread over 215 acres and witness over a million people live and work in BIA. BIAL envisages the Airport City to be a flourishing destination in itself, wherein people will not only board/alight from flights but also relax, do business and shop. The City would have more hotels complimenting one another, along with destination retail, serviced apartments, office park and a software campus.
Zuri Hospitality India (Private) Ltd, Indian arm of the global Zuri Group promoted by a consortium of investors from the Middle East, will soon start work on a new hotel project at Devanahalli, near the new Bangalore International Airport. This 150 room five star hotel is being built at a cost of Rs 200 crore on a 6 acre plot and will be operational in the third quarter of 2011.
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.
According to real estate consulting firm Cushman & Wakefield, prices in the Yelahanka‐Devanahalli stretch, right immediately after the Bangalore International Airport project was announced, ruled around Rs 50 lakh to 3 crore per acre. At a time, when sale of residential units have apparently taken a hit due to high home loan interest rates, interest seems to be running high in properties being developed around Devanahalli area.
According to a leading city based broking firm, which has a land parcel of 600 acres for sale in the region, the prices quoted by owners of these land banks range between Rs 25 lakh and Rs 1 crore an acre.
Multiple premium residential complexes coming up in and around Devanahalli are expected to bring ina total investment of Rs. 1500 crores
QVC Realty is aslo coming up with ‘QVC Hills’, which is a residential community, spread over 62.5 acres located at the foothills of Nandi Hills in North Bangalore. Biodiversity 43 Study on Development Potential around Bangalore International Airport Conservation (India) Ltd has on offer the small but much‐celebrated residential BCIL Collective. BCIL has laid its bets on this area, with two more ambitious eco‐projects both residential — which are on the anvil and will be launched later this year.
Mantri Developers has upcoming projects in Hennur, Jakkur and Hebbal that are yet to be announced. Prestige Estate Projects Pvt Ltd has recently launched a premium development, ‘Prestige Golf Shire’ on the foothills of Nandi Hills. Prestige Estates Projects Pvt Ltd will shortly be launching a villa development —Prestige Oasis with 182 independent homes spread on 33.5 acres of land. They are also marketing an apartment complex, Prestige Wellington Park, and Prestige Kensington Gardens is under construction.
The MetroCorp Group, one of the early developers to invest in the potential of North Bangalore, has its flagship project MetroCorp Nirvana, set the trend for luxury residential townships. Riding on this overwhelming success, the MetroCorp Group, in partnership with Singapore’s Jurong International Group, has a pipeline of projects in North Bangalore that cater to value‐for‐money, semi‐luxury and luxury segments. According to Ali Vakil, Director, Vakil Housing Development Corporation Pvt Ltd, North Bangalore still has tremendous potential left, because the upcoming airport still lacks sufficient support infrastructure. In the next few years, this area will witness significant boom in terms of new structures, employment and support services.
The suggested land use plan for the business park as per authority is as follows:
INFORMATION TECHNOLOGY, INFORMATION TECHNOLOGY ENABLED SERVICES & BIOTECHNOLOGY
With Bangalore being home to some of the most high tech industries in India, Karnataka government has initiated the process of creating the third information technology (IT)hub in Bangalore city near its new airport at Devanahalli with an investment of Rs 1,00,000crore. The city already has two technology parks located in south and southeast ‐ Electronic City, and International Tech Park Ltd. The new hub will come up in the northeast part of the city.
The proposed developments around Bangalore International Airport are elucidated in the following sections.
INFORMATION TECHNOLOGY INVESTMENT REGION (ITIR)
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 Special Economic 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. It is located at a distance of 15 km from Bangalore International Airport. It would be situated at the Nandi foothills near Muddenahalli, Kanivenarayanapura, and Chikballapur. The project has received final central and state cabinet approval on January 28th, 2010 and is under development.
The ITIR is one of the largest infrastructure projects in Karnataka’s history. Total cost is expected 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. Development would involve a Centre‐State partnership in conjunction with private partners. The region would be developed as an integrated township through public private partnership. The township will have residential areas, schools and other public utilities, and will include environmental protection mechanisms.
Basic infrastructure such as road, rail and telecommunication links would be provided by the Centre. The State governments would provide physical infrastructure and utilities, including power, water, sewerage and effluent treatment facilities. The Karnataka State Electronics Development Corporation (KEONICS) has recently issued Expression of Interest (EOI) for developing the region. 55 multinational IT companies including Infosys, Wipro, TCS, and Cognizant have signaled an interest in joining.
OTHER PROPOSED DEVELOPMENTS
Infosys have planned to invest Rs. 710 crore for 12,000 seat software developments centre over 40 acres in Devanahalli Industrial Area. Wipro have also planned to come up with IT/ITeS SEZ in Devanahalli taluk, employing 15,000 people, at an investment of Rs.477 crore. The other investment proposals approved by the authority are as follows:
- Adjoining to Karnataka State “Special Economic Zone”(SEZ).
- Approach to Bangalore International Airport / Nandi Hills.
- Vidhana Soudha – 34 kms
- MG Road – 34 kms
- Hebbal Flyover – 25 kms
- International Airport – 7 kms
- Police Station – 2 km
- Main Road (NH-7) – 3 Kms