Bengaluru: Bagmane Tech park secures metro station naming rights in Rs 40 crore deal
By Vinaykumar Patil | First Published Dec 11, 2024, 11:46 AM ISTBMRCL has signed an MoU with Bagmane Developers, granting naming rights for "Bagmane Techpark Metro Station" and enhancing metro connectivity near its campus. Bagmane will invest Rs. 40 crore for naming rights and Rs. 30 crore for station links, boosting Bengaluru's metro infrastructure.
Bengaluru Metro Rail Corporation Limited (BMRCL) has entered into a significant agreement with Bagmane Developers Private Limited, marking another step toward boosting metro connectivity in the city. Under this agreement, Bagmane Tech Park has acquired naming rights for a metro station, contributing to BMRCL’s innovative funding strategies for the city’s metro expansion.
Bagmane Developers has paid Rs. 40 crore to BMRCL, securing the rights to name the metro station near its premises as "Bagmane Techpark Metro Station" for the next 20 years. This initiative aligns with BMRCL’s efforts to make the metro more accessible and appealing to the city’s residents, particularly IT workers and commuters.
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In a press release, BMRCL announced another partnership involving the DRDO Sports Complex Metro Station, located on the Central Silk Board Junction-K.R. Pura Terminal (ORR Route-North-South Corridor) under the Phase-2A project. A Memorandum of Understanding (MoU) has been signed between BMRCL and Bagmane Developers Private Limited for the station's construction. The DRDO will pay Rs. 40 crore to Bagmane Developers for the naming rights of this station for 20 years.
Additionally, Bagmane Tech Park has committed to enhancing metro accessibility to its campus by providing direct connectivity from the concourse level of three metro stations: Sitaramapalya, Bellandur, and ISRO. For this purpose, Rs. 10 crore has been allocated for each station for a period of 30 years. As part of this agreement, Rs. 10 crore has already been paid as an advance to BMRCL.
BMRCL highlighted that the naming and connectivity plans would be implemented after receiving approval from the Karnataka Government. These initiatives are part of a broader effort to improve the city's metro infrastructure while reducing traffic congestion and vehicular pollution, particularly on the ORR route.
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The new Blue Line, spanning 17 kilometres with 13 stations, is expected to offer a seamless travel experience for Bengaluru’s residents, IT professionals, and daily commuters. This metro line will significantly alleviate traffic congestion on the Outer Ring Road and contribute to a cleaner environment.
Bagmane Tech Park’s agreement is the third MoU signed under the Blue Line project, showcasing the growing collaboration between the metro authority and private players in funding infrastructure development.
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