The Karnataka State Industrial Investment and Development Corporation (KSIIDC) has signed a 30-year land lease deed, renewable for a period of another 30 years, in favour of Bangalore international airport limited. |
This sets the ball in motion for the construction of the Bangalore International Airport at Devanahalli, some 35 km from here. |
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At the sub-registrar's office at Devanahalli, the managing director of the KSIIDC, I M Vittala Murthy effected transfer of 3,884.25 acres of land, which was in possession of KSIIDC, in favour of BIAL, represented by its chief executive Albert Vrunner, an official statement said. |
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The state government has given exemption from stamp duty for registration of the deed, the statement said. |
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The airport is expected to become operational in 30 months from the start of its construction, which has seen repeated delays. |
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Bangalore, with its near three-lakh strong IT industry, has already overtaken Chennai in terms of the number of passengers flying in and out. |
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