A mall will come up in the place of Ejipura slum in Koramangala, and thanks to the BBMP, the 1,512 families living here will get new houses within a year and a half. With this, the proposal to construct a group housing complex for the weaker section of society and a mall by a private builder, has finally seen the light of day.
On Monday, a memorandum of understanding was signed between BBMP and Maverick Holdings & Investments Private Limited on the development of a housing complex for economically weaker sections at Koramangala.
“As per the agreement, the land will be developed on private partnership. Maverick will construct 1,512 houses at the cost of Rs 300 crore, and a commercial complex or mall will also be constructed. There is no financial outgo for BBMP in this project. There are 1,512 houses at Ejipura slum now, and they are in a dilapidated condition. All the slum-dwellers will be rehabilitated in the group housing complex. As per the agreement, the builder must also provide temporary rehabilitation for the slum dwellers while construction is going on,” said BBMP engineer in chief B T Ramesh.
On the 15 acres of land in front of National Games Village on Koramagala 100 Feet Road, the builder will come up with a commercial complex which will fetch BBMP Rs 1.7 crore for every three months as rent. The land has been given to the builder for a 30-year period and as per the agreement, the maintenance of the premises is on the builder.
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