"Smart City Projects Leading to Real Estate Price Increases, Says MD of Hubballi-Dharwad Smart City Ltd"

Projects associated with the Smart Cities Mission, led by the Union Ministry of Housing and Urban Affairs, are contributing to a notable increase in real estate prices in Hubballi, Karnataka. Land prices near Tolankere Lake have witnessed a two-fold surge over the past three years, according to Rudresh S Ghali, Managing Director of Hubballi Dharwad Smart City Limited.

Prior to the redevelopment of Tolankere Lake, land prices were around Rs. 2,000 per square foot. However, after the lake's transformation, prices have escalated to Rs. 4,000 per square foot, as reported by local residents.

Tolankere Lake holds significance as one of the key open spaces and is the second-largest lake in Hubballi Dharwad city. The lake's redevelopment, managed by Hubballi Dharwad Smart City Limited at a cost of Rs 25 crore, has resulted in the creation of various amenities catering to all age groups, including walkways, children's play areas, an amphitheater, meditation spaces, and parking facilities for two and four-wheelers.

Rudresh S Ghali, the Managing Director of Hubballi Dharwad Smart City Limited, stated, "Everyone prefers to invest in properties where infrastructure is robust. There is a significant demand for land and flats near Tolankere Lake or the Green Mobility Corridor project. The increased demand has led to rising property rates. The Green Mobility Corridor project in Hubballi Dharwad is a remarkable example of the effective utilization of open spaces. This project has transformed the Nala area into a 9.25-kilometer green corridor, designed for pedestrians and cyclists, creating a space for a healthy and active lifestyle."

Small parks located along the corridor serve as recreational spots for citizens. Furthermore, the project was awarded first prize in the innovative category at the India Smart Cities Conclave.

Ghali explained, "The central government launched the Smart Cities Mission (SCM) on June 25, 2015, selecting 100 smart cities through several rounds of competition from January 2016 to June 2018. Hubballi-Dharwad was one of seven cities chosen from Karnataka."

He continued, "Hubballi was awarded 63 projects under the Smart City Mission, and out of those, 59 have already been completed. Our goal is to finish the remaining three projects by June 2024. We have covered 49 kilometers of road, known as 'smart roads.'"

Hubballi-Dharwad Smart City Limited has also undertaken the redevelopment of Chitaguppi Hospital, transforming it into a hi-tech, multi-specialty facility equipped with world-class medical equipment to provide high-quality healthcare services to the people of Hubballi-Dharwad.

Another noteworthy project is Bengeri Central, designed with various facilities to benefit farmers and street vendors. This market, established by Hubballi-Dharwad Smart City Limited, serves as a gathering place for vegetable buyers every Saturday, freeing farmers from intermediaries.

Ghali mentioned that the newly built hospital, part of the Smart City Mission, will become operational in the next week. "The basic infrastructure has improved, and people genuinely appreciate all the projects we have initiated," he said.

Redeveloped under the Smart City Mission, Mahatma Gandhi Park stands as a significant green space in Hubballi. It spans 7.42 hectares and features large heritage trees, earning its popular name, the "Indira Gandhi Glass House," due to the grand glass house within the park.

ET