Explanation:

- Bellary-Hospet region (Option 1): This region, located in the state of Karnataka, is renowned for having high-quality iron ore deposits. It is one of the major hubs for iron ore mining in India, contributing significantly to the country's steel production.

- Karauli-Dhaulpur belt (Option 2): This region is not known for iron ore; rather, it is noted for sandstone mining, specifically the pink and red sandstone used extensively in construction.

- Bhandara-Balaghat mines (Option 3): Located in Maharashtra and Madhya Pradesh, these mines are primarily recognized for their manganese ore, not iron ore.

- Shillong Plateau (Option 4): This region in Meghalaya is not known for substantial iron ore deposits. It is more recognized for coal and limestone.

Correct Answer: Bellary-Hospet region (Option 1).