Deputy CM D K Shivakumar announced on Friday that the government had identified about 50 acres of land for the project, with a seating capacity of 60,000.
He announced the plan during the 516th birth anniversary celebrations of Bengaluru's founder, Nadaprabhu Kempegowda. It was one of several infrastructure initiatives outlined by Shivakumar, who completed two years as Bengaluru development minister.
Although the announcement comes in the wake of the stampede at the Chinnaswamy Stadium that claimed 11 lives, the Bangalore Development Authority had begun planning and designing the all-sports-inclusive stadium months earlier.
While Shivakumar did not confirm the exact location, sources indicate that the stadium may be built in Dr K Shivaram Karanth Layout near Mavallipura. The area lies in two parcels of land near the upcoming Peripheral Ring Road (PRR) and about 8 km from Yelahanka.
"In total, we have prepared projects worth around Rs 1 lakh crore for the comprehensive development of Bengaluru, including 40 km of tunnel road and 118 km of elevated corridors," Shivakumar said, addressing criticism over his performance in the past two years in office.
Besides the stadium, the deputy chief minister also promised to improve the city's solid waste management system, rolling out door-to-door delivery of draft e-khatas and additional Cauvery water to the city as part of its sixth phase of expansion.