PROJECT-Megacity

Megacity

Megacity

Govt. of India had launched the centrally sponsored Mega City Scheme during 1995 and selected 7 cities in the country of which Bangalore was one of them. The guide lines of the scheme is as per central Government notification vide K-14011/35/92-UD-III. GoI MOUD.

Under the Scheme Rs.241.75 crores from Government of India and Rs.241.75 crores from Government of Karnataka were received as Grant.

KUIDFC was appointed as the Nodal Agency for the Bangalore Mega City Scheme.

Total Grant amount of Rs.483.50 crores is lent to different Implementing Agencies as loan for 55 infrastructure projects.

Project Objective

The Mega City Projects envisage overall improvement in the quality of life in urban areas by developing infrastructure facilities

Rate of interest for mega city schemes for different categories are as follows.

  • (i) Category A - Remunerative Projects - 6.5 % p.a
  • (ii)Category B - Cost Recovery Projects - 5.5 % p.a
  • (iii)Category C - Service Oriented Projects - 4.5% p.a
  • Rebate is allowed on prompt payment of loan. Door to door tenor of loan will be for 10 years.
  • A moratorium period of 2 years is allowed on the loans and the repayment of loan and interest is made in quarterly instalments over a period, which varies from 3 years to 8 years.
  • The scheme was closed on 31/3/2005 by GoI & was replaced by introduction of JnNURM on 3.12.2005.
  • Under the Guidelines of the Megacity scheme, a ‘Mega City Revolving Fund’ is constituted out of the repayments received from the loans advanced to Implementing Agencies and the interest earnings thereon.
  • The MCRF functions are based on the directions issued by the State Level Sanctioning Committee set- up by Govt. Of Karnataka vide G.O No.HUD 478 MNY 93 dated 25.02.1995 and G.O. No.UDD 67 PRJ 03 (1) Bangalore dated 31.03.2003.
  • The Terms and Conditions of the Mega City Scheme have been incorporated in the Mega City Revolving Fund.
  • Implementing agencies have to prepare a detailed project report of their projects in the prescribed format and submit.
  • There reports will be analysed based on priority such projects will be places before SLSC for sanction of assistance.

Project Scope

Project Components

Project Funding Arrangement

Mega City Revolving Fund(M C R F)

MCRF is operational from 1/04/2005.

Status of Projects sanctioned under the Mega City Revolving Fund are as follows 30-11-2018

Total No. of projects sanctioned 36
Total Cost of projects sanctioned Rs. 5814.45 crore
Total Loan sanctioned for the projects Rs. 3051.48 crore
Total Loan released by KUIDFC to various Rs. 1654.92crore

Implementing agencies

Total No. of projects completed 15
Total cost of projects completed Rs. 2493.93 crore (loan component: Rs.1216.84)
Total No. of projects under progress 11
Total cost of projects under progress Rs.2277.86 (loan component: Rs.1363.54 Crore)
Total No. of projects Cancelled 8
Total cost of the Cancelled projects 1029.06 crore (loan component: Rs.464.30 Crore)
Total No. of projects yet to be taken up 2
Total cost of the projects yet to be taken up Rs.13.60 crore(loan component: Rs 6.80 Crore

Progress

Completed projects under Megacity Revolving Fund (MCRF) as on 30-06-2017

Sl. No
Name of the Implementing Agency
Name of the Project
1 BBMP Development of 17 Lakes
2 BMTC Construction of 10 TTMC s
3 BMTC Construction of Passenger Amenity Centre at BTM Layout
4 BMTC Construction of Depots and 1 Workshop
5 BMTC Construction of Bus Depots/Terminals/ workshops at nodal points
6 BMTC Financial support to BMTC for purchase of buses
7 BWSSB Prevention of Ingression of sewage into SWD of Hebbal Valley area
8 BMRCL 2 Slum rehabilitation projects
9 KSRTC Construction of Satellite Bus Station at Peenya
10 KSRTC Infrastructure developmental works for KSRTC depots in shanthi nagar
11 BMTC Swapping of High Cost Bank Borrowings
12 BMTC Swapping of High Cost Bank Borrowings
13 BDA Construction of 2 Level Grade separator at Nayandahalli at the intersection of ORR & Mysore Road.
14 BDA Construction of flyover along ORR at the intersection of Nagavara-Thanisandra, Nayandahalli and other places.

Physical Progress of projects under Mega City Scheme & MCRF

Sl. No Agency No of Projects sanctioned No of Projects completed Balance
MCS MCRF MCS MCRF MCS MCRF
1 Bangalore Development Authority 11 5 11 3 2 0
2 Bruhat Bangalore Mahanagara Palike 23 4 23 1 3 0
3 Bangalore Metropolitan Transport Corporation 10 9 10 7 1 0
4 Bangalore Water Supply & Sewerage Board 4 11 4 1 2 0
5 Bannerghatta Biological Park 1 0 1 0 0 0
6 Karnataka State Road Transport Corporation 1 2 1 2 0 0
7 Karnataka Compost Development Corporation 1 0 1 0 0 0
8 Karnataka Slum Development Board 4 0 4 0 0 0
9 Bangalore Metro Rail Corpn. Ltd. 5
Total 55 36 55 15 08 02

Reforms

Reports

Status of projects under Mega City Revolving Fund up to (30-11-2018)

(Rs. in Crores)

Sl. No Name of the IA Total No. of Projects Total Project Cost Loan/ Grants
Sanctioned Loan released Principal Repayment Received Loan Balance
1 BBMP 4 532.15 266.43 23.19 23.19 0
2 BDA 5 697.23 347.02 204.34 194.88 9.46
3 BMTC 9 2485.1 1388.44 1104.10 434.67 669.43
4 BWSSB 11 1939.28 969.35 272.97 68.43 204.54
5 KSRTC 2 38.00 19.00 19.00 13.50 5.00
6 BMRCL 5 122.69 61.24 31.32 13.14 18.18
TOTAL 36 5814.45 3051.48 1654.92 748.31 906.61