The Rail Land Development Authority (RLDA) has invited bids for leasing out a 52,630 sqm land parcel, located at MTS Colony, Karwar Road, Hubbali.
The site will be leased out for 99 years for mixed-use development (residential and commercial). The permissible FSI for the site for residential is 2.75 and for commercial is 3.0.
The total reserve price for this land parcel is Rs 83 crore.
“Hubbali, one of the key commercial hubs of Karnataka is the fastest growing city after Bangalore and Mangalore cities. The Hubbali Division of SWR is one of the highest revenue generating railway divisions in India. The proposed land parcel at Hubbali is ideal for commercial and residential development,” said Ved Parkash Dudeja, Vice-Chairman, RLDA.
Hubbali is one of the commercial hubs of Karnataka and has a wide cluster of industries and has more than a lakh small and medium industries.
Rail Land Development Authority (RLDA) is a statutory authority under the Ministry of Railways for the development of Railway land. It has four key mandates as a part of its development plan, namely leasing commercial sites, colony redevelopment, station redevelopment, and multi-functional complexes.
