Bengaluru Signature Business Park near airport taking shape after 16 years; tenders floated for development under PPP

Park (BSBP), ChatGPT said: ChatGPT An artist's impression of Bengaluru Signature Business Park (BSBP)

Karnataka's ambitious Bengaluru Signature Business Park (BSBP), spanning 407 acres near Kempegowda International Airport (KIA), is finally gaining momentum 16 years after it was conceptualised.

First proposed in 2008, with its foundation stone laid in 2018, the project is now on track with the Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC) inviting tenders for its development under the Public-Private Partnership (PPP) model. Located along the northern boundary of KIA, BSBP is designed to enhance Karnataka’s global status.

KSIIDC officials told Moneycontrol that they will retain land ownership while offering development rights through long-term leases. In the first phase, 57 acres across four land parcels have been identified for development.

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The Business District will cover three parcels—12.5 acres with a FAR (Floor Area Ratio) of 2.7 million square feet, 11.7 acres with a FAR of 2.5 million sq ft, and 9.6 acres with a FAR of 1.89 million sq ft. The fourth parcel, located in the MICE (Meetings, Incentives, Conferences, and Exhibitions) & Retail District, spans 23.7 acres with a FAR of 1.8 million sq ft. FAR (Floor Area Ratio) is the ratio of a building's total floor area to the area of the land it occupies, used to regulate building density and development scale.

The project will have retail, office spaces, IT/R&D facilities, and hotels or serviced apartments, with a total FAR potential of up to 3.9 million sq ft, subject to approvals, including an NOC from the Airport Authority of India.

According to tender documents, selected developers will have to complete work within 48 months (four years). While the minimum offer price starts from Rs 106.5 crore, depending on the plot, the highest bid above the minimum offer price will win the contract. The annual lease rent will be Rs 3 lakh per acre for the first 30 years, increasing to Rs 5 lakh per acre thereafter.

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State-of-the-art facilities

According to a presentation by a private consultant hired by KSIIDC, 247.13 acres of developable land at BSBP is divided into 64 parcels, hosting four distinct districts (Business District, MICE & Retail District, Design and Culture District, and Innovation and Research District).

Business District will offer commercial office spaces, business parks, R&D offices, and retail facilities. MICE & Retail District will host the Bengaluru International Convention Centre (BICC) and retail spaces. Design and Culture District will promote art, design, and cultural activities, featuring design studios, museums, and a theme park. Innovation and Research District will focus on R&D and innovation, providing campuses and multi-tenanted buildings for various industries.

It will have well-integrated infrastructure, including water supply, sewage, roads, and waste management, alongside environmental measures like effluent treatment and solid waste disposal.

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Business District

The Business District will be integrated development designed for business and corporate needs. It will have commercial and office spaces, business parks, R&D offices, and retail areas. Key components include an access flyover, business district park, signature tower, corporate offices, and green-facing parcels for R&D services. “Bengaluru lacks an organised Central Business District. This project will be the city’s first structured business hub,” said a KSIIDC official. The district will consist of high-rise buildings with contemporary architecture and will also have a walkable, pedestrian-friendly environment. The district will support leading corporates and essential services like banking.

MICE and Retail District

MICE and Retail District is envisioned as a hub focused on MICE (Meetings, Incentives, Conferences, and Exhibitions), hospitality, retail, entertainment, and leisure. Key features include a convention centre complex, hotels, a business centre, exhibition centre, convention ground, a club, MICE & retail spaces, a high street, and a mall, all spread across 35 acres.

The district will house the Bengaluru International Convention Centre (BICC), which will be the city’s first 6,000-seat international convention venue.

"The development will include mid-rise buildings with a signature project, the Bengaluru International Convention Centre, at its heart. A high street with retail and pedestrian-friendly walking streets and plazas will encourage vibrant street activities," said an official.

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Design and Culture District

Design and Culture District aims to promote design, art, and cultural activities by providing a platform for artists and designers to showcase diverse practices and crafts to enhance Bengaluru’s cultural identity. It will include office and workshop spaces, a design institute, a design experience centre, a club, a universal library, studios, lofts, and a cultural museum spanning five acres.

"The district will have a theme park showcasing art and culture, a media centre, retail spaces, and studio apartments. As the first-of-its-kind in Bengaluru, it seeks to position the city as the 'design capital' of India and boost tourism," said an official.

"Designed as a low-rise, high-density development with narrow, pedestrian-friendly streets, the district will have a 'bazaar' atmosphere, public plazas, and spaces for temporary galleries and art installations. It aims to attract India’s leading designers across various fields, including fashion, graphic design, new media, and furniture design," the official added.

Innovation and Research District

Innovation and Research District is designed to host campuses and multi-tenanted buildings for R&D and innovation companies. It will include R&D centres, parks, and a Centre of Excellence/Incubation Centre, supporting research in fields such as pharma, healthcare, IT, biotechnology, and agriculture.

"As the first dedicated space for R&D and innovation in Bengaluru, the district enhances the city’s reputation as a technological hub while driving employment generation," said an official.

"With low-rise structures, the district features a campus-style layout with courtyards, gardens, plazas, and water bodies, fostering collaboration and innovation in a serene environment," the official added.

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