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Global Financial District near BIAL
Ravi_D - 8 March, 2010 | BIAL | Bangalore | PPP | GOK | Media Reports | Finance | Others | Everything else
Today's BS carries this item on a proposed Global Financial District, to cater to banking & financial sector. This 200 Acre plan, located near BIAL is expected to use PPP or JV Model for development.
Quote: "senior officials from 45 banks, insurance companies and mutual funds attended and expressed their willingness to set up their offices there", (state minister for large and medium industries Murugesh) Nirani told reporters.
COMMENTS
Another hollow proposal ?
Naveen - 9 March, 2010 - 05:54
This is similar to DBP (Devanahalli Business park), which is yet to take off. The state govt keeps coming up with proposal after proposal to try to cash in on the new international airport & also develop the area, but though promises are made, not much has actually happened there.
I think if HSRL comes through, it might change things since one can reach the area in a very short time.
Vaayu Vajra for connectivity
Ravi_D - 9 March, 2010 - 07:32
No doubt HSRL makes a difference. But we already have a good established routing of BMTC airport service. That can be expanded to start with till HSRL or some other mass transit (CRS, Metro Extn) comes of age.
Interesting part of this proposal was the focus on banking/financial sector. Not sure how many such outfits exist in the city now (I suspect Mumbai might take the laurels here). With so much of IT expertise centered in Bangalore city, should be a great benefit to the industry if an ITPL equiv for finance sector indeed materializes. Let us see where this one takes us.
Try CBD instead
idontspam - 11 March, 2010 - 17:44
There is a lot of Grade A (non SEZ) office space available in the center of the city with no takers. There is ample scope for consolidating the urban landscape inside the city to create more density. Govt should encourage CBD consolidation and enable vertical growth. I would rather they put the financial district in the CBD. The investment in Public transport has already been made. The last thing you want is just window shopper crowd for the 10k crore metro.
Under utilized CBD?
vinod_shankar - 11 March, 2010 - 18:35
The CBD in bangalore is not a fully developed business district in the real sense of what constitutes a CBD in western countries. The reality in Bangalore is, where ever the roads are wider, office space comes up along. The narrow gullies within CBD is used for residential purposes.
]And also the government should raise FAR within the CBD so that it becomes much more denser. this way per capita cost of travel reduces for office goers.
vinod
When Bangalore expands beyond CBD, the right price is found, and hoarding is reduced. I hope it expands 100 km in all directions even into neighboring states. Where is actually the CBD? As I understand there should be zoning to create the CBD; I dont know if that exists.
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