Increasing land prices pushing investment beyond Karnataka, Ola sets up new factory in Hosur

Updated Dec 17, 2020 | 13:06 IST
Land prices in Karnataka have come back in focus with Bengaluru-based cab aggregator Ola deciding to invest Rs 2,400 crore to set up an industry to produce electric bikes in Hosur, Tamil Nadu.
Increasing land prices pushing investment beyond Karnataka, Ola sets up new factory in Hosur.  |  Photo Credit: IANS
Bengaluru: The state’s increasing land prices are making investors look away. Huge costs of land acquisition are proving to be a big roadblock for the state to convert investment proposals into projects.
This has come back in focus with the city-based cab aggregator Ola deciding to invest Rs 2,400 crore to set up an industry to produce electric bikes in Hosur, Tamil Nadu, because it found land cheaper there. Land prices in Hosur are 50% cheaper than in districts around the city, government sources say.

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