Bangalore Metro's Blue Line Expansion: A New Agreement in Place

Bangalore Metro Rail Corporation Limited and Bagmane Developers have signed a Memorandum of Understanding for constructing the DRDO Sports Complex Metro Station. Bagmane Developers is investing Rs 40 crore in exchange for naming rights for 20 years and further committing Rs 10 crore for connectivity improvements.

The Bangalore Metro Rail Corporation Limited (BMRCL) and real estate entity Bagmane Developers Private Limited have inked an agreement to facilitate the construction of the DRDO Sports Complex Metro Station. This development is part of the larger Phase-2A Blue Line project, which will stretch between the Central Silk Board and KR Pura.

As per the memorandum, Bagmane Developers will fund the construction of the DRDO Sports Complex Metro Station with an investment of Rs 40 crore, securing naming rights for a 20-year period. The release from BMRCL also highlighted Bagmane's additional expenditure of Rs 10 crore each to enhance direct connectivity from the concourse level to its campus from three key stations: Seetharamapalya, Bellandur, and ISRO, covering a span of 30 years.

BMRCL officials have verified the receipt of an advance payment of Rs 10 crore. The Blue Line will cover a distance of 17 km, encompassing 13 stations from Central Silk Board Junction to KR Pura. This agreement marks the third Memorandum of Understanding signed for the long-anticipated Blue Line project.

(With inputs from agencies.)