Needless to say, Karnataka is fast transforming from a sleepy city into one of India’s fastest growing cities. One third of the state’s population lives in urban areas. Out of this, 40% are settled in Bangalore which had the distinction of being home to several IT companies and renowned BPOs.

With investment proposals to reach over Rs 79,137 crore last year, this capital city of Bangalore has succeeded to mark its improvement in all major sectors. Karnataka now expects to fund its infrastructure development on its own, once the revenue from its current projects starts flowing. A major part of investment for projects has been provided by the Union Government and foreign banks till now. 2007 will be a year of new hopes for Karnataka.

The Urban Local Body (ULB) of Karnataka has seven corporations, 43 city municipal councils (CMCs), 79 town municipal councils (TMCs) and 93 town panchayats (TPs). The state government has come into action to take Karnataka to new heights. It has begun to build industrial clusters across the state in a bid to decongest Bangalore.

Moreover, there are more industrial projects to come up in Greater Bangalore which continues to draw talent from across the country and holds much promise as far as development is concerned. Under the Jawaharlal Nehru National Urban Renewal Mission (JNURM), the Centre had approved a whopping amount of Rs. 22,536 crore capital to fund different infrastructure projects here. The construction work of Bangalore city, seven CMCs, and one TMC holds the top position on the chart of such projects.

For 2006, the state has a multitude of projects in its pipeline. The state has submitted 22 detailed project reports (DPRs) to the Centre for its nod regarding fund approval through JNNRUM. The Centre has sanctioned the capital for execution of 13 DPRs, with an outlay of Rs. 1,512 crore, while nine DPRs worth Rs 513 crore have not yet received the approval.

As for future, the state has plannings to begin working on upcoming 40 DPRs worth Rs 7,614 crore. These JNNRUM projects will focus primarily on roads, water drainage, and solid waste management, storm water drainage in Bangalore, its suburban areas, and Mysore.

Source-Indian Realty News Visit Bangalore Properties

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