The Rail Land Development Authority (RLDA) has floated a tender for leasing out 52,630 sq m of land parcel at MTS Colony, Karwar Road in Hubbali, with an overall reserve price of Rs 83 crore.
The land parcel will be leased for 99 years for mixed-use development like residential and commercial use.The permissible Forest Survey of India (FSI) for the site for commercial is 3.0 and residential is 2.75. Vice-Chairman of RLDA, Ved Prakash Dudeja, said that Hubbali is one of the major commercial hubs of Karnataka and the fastest growing city after Bangalore and Mangalore.The Hubbali Division of the South Western Railway (SWR) zone is one of the largest revenue-generating zones in India.The proposed land parcel is ideal for commercial and residential development. He said that Hubbali is one of the commercial hubs of Karnataka and has twice a wide cluster of industries and over one lakh small and medium industries. RLDA, under the Ministry of Railways, is a statutory authority for developing Railway land.The development plan consists of four key parts, leasing out commercial sites, colony development, station development and multi-functional complexes. Image Source
