Metro, Jobs And Decongested Roads, Bengaluru Stands To Gain From Karnataka Budget

The recently tabled Budget for Karnataka lays a lot of emphasis on infrastructure, safety, civic amenities and transport, apart from offering various welfare schemes for the underprivileged. Presenting the Budget, Karnataka Chief Minister Siddharamaiah announced several measures that will benefit the state in general and Bengaluru in particular.

Here's a look:

New airports

Karwara, Madikeri and Chikkamagaluru will get new airports. Whether or not it affects the city of Bengaluru, it surely does boost the livability score. Moreover, a large number of tourists travel to these areas and having airports at these destinations would open up the landscape for further gains. As such, India's Silicon Valley is a hotbed for both residential and commercial investments. More entrepreneurs would be able to connect now. For example, Karwara already has an established port, rail and road infrastructure. An airport would add to its real estate value. Similarly, Madikeri and Chikkamagaluru have great tourism potential. While tourists may have had to slog to reach these places, better connectivity ensures opening up of newer real estate hotspots.

Also read: Bengaluru, Mumbai Asia's Top Investment Bets In 2017

Transport infrastructure

The state plans to launch 150 electric buses into Bengaluru and another 50 in Mysuru. The Bengaluru Metropolitan Transport Corporation (BMTC) will on the whole induct 3,000 buses. In a city that has seen a growth of IT/ITes professionals, infrastructure has been of great interest. In 2011, an observation surfaced – almost 1,000 people migrate to Bengaluru every day.

At this rate, 250 new homes should be built every day, besides one school and a hostel every second day which is not possible and thus in-migration could be a strain. Better transport systems can sort the issue to an extent. Besides, Rs 150 crore has been allotted to the Bruhat Bengaluru Mahanagara Palike (BBMP) for railway over bridge and under-bridge construction so as not to restrict vehicle movements.

Anybody who has ever been to Bengaluru will know the traffic equation in the city. Congested roadways and by lanes have been the order of the day. The state Budget rolled out that the public works department should develop a 150-km road through the Karnataka Road Development Corporation at a cost of Rs 1455 crore. This will help decongest the city in a big way.

Besides, the Bangalore Metro Rail Corporation has received Rs 2,566.39 crore. A major proportion will go for the second phase of the Metro. Also, the Hebbal flyover will be widened while an under-bridge will be constructed at a cost of Rs 88 crore.

Jobs

The state Budget will give a boost to the jobs market too, although the time horizon may be longer. The Chennai-Bengaluru-Chitradurga Industrial Corridor has grabbed a Budget allotment of Rs 400 crore. Moreover, a Forensic Sciences and Technology Center will be established at a cost of Rs 20 crore. Dr BR Ambedkar School of Economics on the lines of London School of Economics too gets a nod. About 1.10 lakh people would be trained in IT, electronics, animation and other sectors by Yuva Yuga creating more opportunities for the youngsters strengthening the ecosystem of the city.

Housing

While real estate may be in a slump, the Bangalore Development Authority is expected to complete 3,000 flats by 2017-18. Recently, the luxury villas undertaken by the authority had witnessed great interest among prospective buyers.

Also read: What Makes Bengaluru Realty Crisis Resistant?