Smart city projects are driving up prices of real estate: MD Hubballi Dharwad Smart City Ltd – ET Infra

HUBBALLI: Projects of the Smart Cities Mission under the Union Ministry of Housing and Urban Affairs are driving up real estate prices in Hubballi, Karnataka and land prices near Tolankere Lake have seen a two-fold increase in three years, says Rudresh S Ghali Managing Director, Hubballi Dharwad Smart City Limited.

Before the redevelopment of the Tolankere Lake, land prices were around Rs 2,000 per square feet, but after the redevelopment of the lake it has shot up to Rs 4,000 per sq feet, said locals residing there.

Tolankere Lake is one of the important open spaces and the second largest lake in Hubballi Dharwad city. The lake has been transformed by Hubballi Dharwad Smart City Limited at a cost of Rs 25 crore.

The lake surrounding offers amenity for all age groups including walkways, children play area, amphitheater, meditation area, parking facility for two and four wheelers.

Talking to ANI, Managing Director, Hubballi Dharwad Smart City Limited Rudresh S Ghali said, “Everyone likes to have a property where infrastructure is good. There is great demand for land and flats near Tolankere lake or Green Mobility Corridor project. Everyone wants to buy property and due to increase in demand the rates of the properties are gone up. Green Mobility Corridor project in Hubballi Dharwad city is an excellent example of effective use of open spaces. The project converted the Nala area into a 9.25-kilometre green corridor for pedestrians and cyclists, creating a space for a healthy and active lifestyle.”

Small parks along the corridor provide a recreational spot for citizens. Further, the project was awarded first prize under innovative category in India Smart Cities Conclave.

“The central government launched the Smart Cities Mission (SCM) on June 25, 2015. 100 smart cities were selected through several rounds of competition from January 2016 to June 2018. Hubballi-Dharwad was one of seven cities selected from Karnataka.” he added.

Ghali said, “Hubballi was awarded 63 projects under the Smart City Mission. Out of 63 projects, 59 have been completed. Our target is to complete the remaining three projects by June 2024. We have covered 49 kilometres of road, which are called smart roads.”

Hubballi-Dharwad Smart City Limited has redeveloped Chitaguppi Hospital to provide high-quality healthcare services to the people of Hubballi-Dharwad. It has been converted into hi-tech, multi-specialty hospitals with world-class equipment.

Another key project is Bengeri Central, which has been built and equipped with various facilities for farmers and street vendors. In this market, built by Hubballi-Dharwad Smart City Limited, buyers of vegetables gather every Saturday, and the farmers are free from the meddling of middlemen.

Ghali said that hospital we have built is the first of its kind project under smart city mission and this will be operational by next week.

“The basic infrastructure has improved and people are actually appreciating all the projects what you have taken” he said.

Redeveloped under Smart City Mission, the Mahatma Gandhi Park is a landmark lung space in Hubballi. Filled with large heritage trees and spread over a sprawling 7.42 hectares, it is popularly known as Indira Gandhi Glass House, due to the presence of the grand glass house inside the park. (ANI)

  • Published On Oct 29, 2023 at 04:12 PM IST

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