India’s 1st Financial City to come up at Bangalore.
Country’s first Financial city is to come up at Bangalore. FM Pranab Mukherjee yesterday laid its foundation at Hardware Park, near the Bangalore International Aiport.
Located 30 km from Bangalore city, it is being developed on 50 acres of land by IFCI Infrastructure Development Ltd (IIDL), a wholly owned subsidiary of Karnataka Government. The estimated cost of the project is about 1000 Crores Indian Rupees.
“We are developing India’s first financial city as a premium urban infrastructure in association with leading banks and institutions on 50 acres of land, provided by the Karnataka government,” IFCI chief executive and IIDL chairman Atul Kumar Rai said on the occasion.
The ambitious project is scheduled to be completed in three years.
The layout of the financial city is based on Zen geomancy concept with effective circulation and activity patterns.