<p>The Urban Development Department (UDD) has sought custody of a 25-acre land parcel adjacent to NICE Road in Hemmigepura at no cost to build Bengaluru’s tallest tower.</p>.<p>This special request was made in a note presented at a recent state cabinet meeting, chaired by Chief Minister Siddaramaiah.</p>.<p>The land proposed for the 250-meter-tall Skydeck is currently in the possession of Nandi Infrastructure Corridor Enterprise (NICE), which owns approximately 100 acres in the area, including the site of its office.</p>.<p>Adjacent to the proposed Skydeck location is a large vacant land parcel, currently under investigation by the Income Tax Department and the Enforcement Directorate (ED) regarding its ownership.</p>.<p>“The land at Hemmigepura has good connectivity from Tumakuru, Kanakapura, Mysuru and Hosur through NICE Road. And since it is situated in a suburban area, there is less chance of traffic congestion during the proposed construction. Further, Bengaluru can be viewed here along with lush green Turahalli forest,” SR Umashankar, Additional chief Secretary, UDD, said in his note. </p>.<p>The state cabinet last week approved the location but left other critical components of the project such as financial viability and land ownership unanswered. </p>.<p>According to the BBMP, which is preparing the Detailed Project Report (DPR), the Skydeck is estimated to cost Rs 500 crore. The civic body has earmarked Rs 25 crore in the 2024-25 budget. The project will be equally funded by the state government and the BBMP, it’s learnt. The BBMP will then fund half of the cost through internal resources and borrow the rest from external government-backed institutions. </p>.<p>“The proposed project will make the city of Bengaluru a centre of attraction and promote tourism by unveiling the cultural heritage of Bengaluru,” the UDD stated. </p>.<p>This is also a pet project of Deputy Chief Minister DK Shivakumar. </p>.<p>Initially, the Finance Department had concurred with the proposal, subject to the condition that financial requirements were met with the BBMP’s own funds and private-sector participation. </p>.<p>A senior officer in the government said no private investment would be raised as it would lead to unnecessary confusion and complication. “The project will be an asset to the BBMP and Bengaluru at large,” he said.</p>
<p>The Urban Development Department (UDD) has sought custody of a 25-acre land parcel adjacent to NICE Road in Hemmigepura at no cost to build Bengaluru’s tallest tower.</p>.<p>This special request was made in a note presented at a recent state cabinet meeting, chaired by Chief Minister Siddaramaiah.</p>.<p>The land proposed for the 250-meter-tall Skydeck is currently in the possession of Nandi Infrastructure Corridor Enterprise (NICE), which owns approximately 100 acres in the area, including the site of its office.</p>.<p>Adjacent to the proposed Skydeck location is a large vacant land parcel, currently under investigation by the Income Tax Department and the Enforcement Directorate (ED) regarding its ownership.</p>.<p>“The land at Hemmigepura has good connectivity from Tumakuru, Kanakapura, Mysuru and Hosur through NICE Road. And since it is situated in a suburban area, there is less chance of traffic congestion during the proposed construction. Further, Bengaluru can be viewed here along with lush green Turahalli forest,” SR Umashankar, Additional chief Secretary, UDD, said in his note. </p>.<p>The state cabinet last week approved the location but left other critical components of the project such as financial viability and land ownership unanswered. </p>.<p>According to the BBMP, which is preparing the Detailed Project Report (DPR), the Skydeck is estimated to cost Rs 500 crore. The civic body has earmarked Rs 25 crore in the 2024-25 budget. The project will be equally funded by the state government and the BBMP, it’s learnt. The BBMP will then fund half of the cost through internal resources and borrow the rest from external government-backed institutions. </p>.<p>“The proposed project will make the city of Bengaluru a centre of attraction and promote tourism by unveiling the cultural heritage of Bengaluru,” the UDD stated. </p>.<p>This is also a pet project of Deputy Chief Minister DK Shivakumar. </p>.<p>Initially, the Finance Department had concurred with the proposal, subject to the condition that financial requirements were met with the BBMP’s own funds and private-sector participation. </p>.<p>A senior officer in the government said no private investment would be raised as it would lead to unnecessary confusion and complication. “The project will be an asset to the BBMP and Bengaluru at large,” he said.</p>