The Bruhat Bangalore Mahanagara Palike (BBMP) has chosen 60 junctions to be handed over to the Consortium of Real Estate Developers Association of India (CREDAI) for maintenance.
This was discussed during a meeting with representatives of CREDAI here on Friday. In the first phase, 48 junctions will be handed over for development and maintenance, while the remaining 12 will be handed over after completion of civil works.
Six years
Sources said that CREDAI will spend Rs. 15 crore on maintenance of the junctions. Earlier, the BBMP wanted to hand over the maintenance of these junctions for five years. But CREDAI representatives explained that the junction maintenance would be part of their Corporate Social Responsibility and they would be able to recover the funds invested after six years.
CREDAI representatives have been told not to put up hoardings or big signboards at the junctions. They may put up a small board saying the junction is being maintained by CREDAI. They were also asked to submit design and concept plans to the BBMP for approval within 15 days. Once approved, any development or changes would have to be completed within three months.
A memorandum of understanding is likely to be signed between the BBMP and CREDAI on Wednesday in this regard.
Another offer
Meanwhile, another company — Bharati Cement Pvt. Ltd. — has come forward to maintain three junctions. Sources said that the company had chosen six junctions, including Basaveshwara Junction, Minugutare Kalpana Circle, Old High Grounds Police Station Junction. They added the same conditions would apply to this company as well.
Later in the meeting, Commissioner Siddaiah reportedly told the CREDAI representatives that the association must contribute at least Rs. 50 crore for the city's development. Sources said there was an oral assurance on the part of the representatives, but they said they would be able to take a decision only after discussing it at the board meeting.
