Accurate camera models are essential for photogrammetry applications such as 3D mapping and object localization, particularly for long distances. Various stereo-camera based 3D localization methods are available but are limited to few hundreds of meters'range. This is majorly due to the limitation of the distortion models assumed for the non-linearities present in the camera lens. This paper presents a framework for modeling a suitable distortion model that can be used for localizing the objects at longer distances. It is well known that neural networks can be a better alternative to model a highly complex non-linear lens distortion function; on contrary, it is observed that a direct application of neural networks to distortion models fails to converge to estimate the camera parameters. To resolve this, a hybrid approach is presented in this paper where the conventional distortion models are initially extended to incorporate higher-order terms and then enhanced using neural network based residual correction model. This hybrid approach has substantially improved long-range localization performance and is capable of estimating the 3D position of objects at distances up to 5 kilometres. The estimated 3D coordinates are transformed to GIS coordinates and are plotted on a GIS map for visualization. Experimental validation demonstrates the robustness and effectiveness of proposed framework, offering a practical solution to calibrate CCTV cameras for long-range photogrammetry applications.