26 September 2016

BMRCL TO READY DPR ON METRO LINK TO OUTER RING ROAD

News

Armed with the Cabinet approval to link Namma Metro to the Outer Ring Road (ORR), the Bangalore Metro Rail Corporation Limited (BMRCL) plans to prepare a detailed project report (DPR) by November this year, to meet the three-year deadline. Covering 18 km of a densely populated stretch, the INR 3,600 crore project will pass through Matriarchal junction, connecting Namma Metro Phase II lines at Central Silk Board (RV Road – Bommasandra) and KR Puram (Baiyappanahalli-Whitefield).  

Office Services view

A well-planned public transportation network will reduce traffic density and help ORR in retaining its position as one of the most preferred commercial office markets. Since there is no land available on ORR stretch (from Sarjapur until Bagmane WTP) which can cater to a larger IT park development, we expect that the development activity for large scale IT parks should concentrate in the adjoining Sarjapur Road micro market. Additionally, Whitefield and Varthur will also benefit in due course.

Research view

Residential clusters such as Mahadevpura, Bayappanahalli, Bellandur, Sarjapur, HSR Layout and Marathahalli along this corridor should witness a boost in demand due to increased connectivity to prime employment hubs. As Outer Ring Road is a Mutation Corridor according to revised Master Plan of 2015, any real estate development within 100 meters of a metro station is eligible for a higher FAR (floor area ratio) up to 4.0. However, as per our analysis, due to the existing restrictions on height of development on this stretch at present, it is difficult to avail the benefits of higher FAR. Thus, review of existing norms, land acquisition and design and route of the metro corridor on this stretch (which also has some flyovers) will remain the key factors in proper implementation of this project.

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