Briefing reporters after a cabinet meeting chaired by Chief Minister D V Sadananda Gowda, Law and Urban Development Minister S Suresh Kumar said the proposed venture on government land at Hesaragatta would also include a theme park and a golf resort.
The government also decided to take up urban property ownership records project in Bangalore city, covering all housing properties.
There are 16 lakh housing properties here and with the project in place, this number is expected to go up to 20-21 lakh with the inclusion of properties that had been missed out of assessment.
The project would initially be taken up in two zones of the city (in 50 corporation wards) covering four lakh properties, with private participation, Kumar said.
The project, which has already been launched in Mysore, Shimoga, Hubli-Dharwad and Mangalore, is aimed at curbing cases of availing loans by creating multiple records of the same property, the Minister said.
A Centre for Innovations and Good Governance, an initiative of the Central government, would come up in the city.
The cabinet decided to release Rs 1.63 crore for the proposed Centre which would work in the area of administrative reforms, best practices in various government departments and policy and training issues, among others.