Bengaluru: At a time when land prices are going through the roof, eight private firms have parted with their prime land – totalling close to 16,000 square metres – free of cost for the Metro project in Bengaluru.
This generous gesture has helped the Bangalore Metro Rail Corporation Ltd (BMRCL) save at least Rs 175 crore as every land loser is generally paid two to four times the guidance value as compensation.
Of the eight firms, four have donated their land without imposing any conditions. They are: A Munireddy, owner of AMR Tech Park on Hosur road, Total Environment Building Systems, Prestige Notting Hill Investments (Bannerghatta Road) and Vikas Telecom Pvt Ltd (Kadubeesanahalli in Outer Ring Road). They have completely opted out from receiving monetary compensation.
