Tag: Mysuru

Latest StoriesRera

Karnataka RERA Orders Builder to Submit Mysuru Project Compliance Plan

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has instructed a builder from Haryana to provide a comprehensive compliance report and action plan within 30 days. This plan must detail the completed and outstanding amenities and infrastructure for the Astrum Grandview – Phase I project, aligned with approved plans, agreements, and representations made to buyers, supported by relevant documentation. In an order issued on December 31, 2025, the Authority responded to complaints from 19 homebuyers, requiring the builder to submit a schedule outlining when all pending amenities, common facilities, and statutory obligations will be fulfilled. The order cautioned that non-compliance…

IndustryLatest Stories

Mysuru MDA Seeks Landowner Consent for Mega Housing Plan

Representative Image MYSURU: The Mysuru Development Authority (MDA) has invited landowners from four villages in Yelwal hobli to submit consent letters for a proposed mega residential layout covering 2,113 acres. This project is part of the 50:50 scheme, where landowners will receive half of the developed land in exchange for the land they surrender. However, villagers have expressed concern over a lack of information regarding the project, while real estate experts have raised questions about its feasibility. The MDA’s proposal encompasses the villages of Nagawala, Bommenahalli, Kammarahalli, and Doddamaragowdanahalli. The initiative requires participation from 1,524 landowners and is expected to…

Latest StoriesRegulatory

Mysuru Local Bodies See Spike in Property Tax Collections

MYSURU: Urban local bodies in Mysuru district, including the Mysuru City Corporation (MCC), have seen a significant rise in property tax collection this financial year. This achievement is mainly due to the introduction of digital payment methods, as well as incentives like a 5% rebate for early payments and proactive door-to-door collection drives. Officials noted that these initiatives have motivated property owners to comply on time, likely leading to substantial collections by the end of this month. In a conversation with TOI, MCC’s deputy commissioner (Revenue), Somashekhar G S, mentioned that regular property tax review meetings every two weeks and…

Latest StoriesRera

Karnataka RERA Launches One-Stop Clearance for Real Estate

MYSURU: Rakesh Singh, chairman of the Karnataka Real Estate Regulatory Authority (K-RERA), announced on Saturday that the authority is considering implementing a single-window clearance system. This initiative aims to streamline the coordination and follow-up on permissions necessary from various government agencies for real estate projects. Singh explained that once developers or promoters register with K-RERA and comply fully, the authority will take on the responsibility of liaising with the relevant departments to ensure timely approvals. He added that if an agency does not clear a proposal within the designated time frame, the approval should be considered as deemed granted. He…

Latest StoriesResidential

Mysuru to Boost Ward-Wise E-Khata Issuance Drive

MYSURU: The Mysuru City Corporation (MCC) is set to enhance its e-khata property document initiative on a ward-wise basis to ensure all 2,27,883 properties in the city are covered. Currently, e-khatas have been issued to 61,117 property owners. To achieve full coverage, the civic body will launch awareness campaigns across all wards. After the chief minister kick-started the statewide initiative, Mysuru City Corporation achieved a milestone in e-khata distribution among civic bodies, with Mysuru district leading in overall issuance. Out of the total 2,27,883 properties, the MCC has successfully distributed 61,117 e-khatas after processing applications and collecting necessary taxes. This…

Latest StoriesResidential

Allottee Loses Mysuru Site for Not Paying Auction Price

Sure! Here’s a rewritten version of your content: Representative image MYSURU: The Mysuru Development Authority (MDA) has annulled the allocation of a 745 sqft corner plot in the upscale Vijayanagar IV Stage in west Mysuru because the winning bidder did not finalize the necessary formalities. The bidder had offered Rs 2 crore against a base price of Rs 59.6 lakh. K.R. Rakshith, the MDA in-charge commissioner, confirmed to TOI on Thursday that the cancellation was due to the bidder’s failure to remit 25% of the bid amount by the stipulated deadline. According to the commission, the bidder cited a personal…

Latest StoriesResidential

Mysuru Body Raises Base Price, Boosts Vijayanagar Realty Rates

MYSURU: The base price set by the Mysuru Development Authority (MDA) for sites in the prestigious Vijayanagar Stage IV, Phase II, has had a direct and negative influence on property prices in west Mysuru, according to local developers. They argue that inflated prices have created a bubble, misleading many into believing there is a boom in the real estate sector. The MDA initially pegged the base price at Rs 8,000 per square foot for premium corner plots, which has since been increased three times, establishing a new pricing benchmark and prompting property owners in the affluent area—comprising around 18,000 sites—to…

IndustryLatest Stories

Bidders Urge Mysuru Development Body to Finalize High-Value Auctions

MYSURU: In a move that may quell concerns from developers, activists, and politicians regarding a potential scam in the online auction of Mysuru Development Authority (MDA) sites, approximately 118 bidders have approached the authority to finalize paperwork for auctioned sites since the start of the month. The top bidder for a 745 sqft plot in the II phase of Vijayanagar IV stage, West Mysuru, has placed a staggering bid of Rs 2 crores, while another bidder has quoted Rs 9 crores for a larger 4,133 sqft plot. Both have visited the MDA office to complete formalities. Buyers will need to…

IndustryLatest Stories

Bidders Want Mysuru Body to Finalize High-Value Site Auctions

MYSURU: In a surprising turn of events that may quell concerns among developers, activists, and politicians regarding potential fraud in the online auction of Mysuru Development Authority (MDA) sites, approximately 118 bidders have approached the authority to finalize the purchase of auctioned sites from earlier this month. The highest bid recorded was for a 745 sqft plot in the II phase of Vijayanagar IV stage, West Mysuru, which fetched an astonishing Rs 2 crores. Another bidder offered Rs 9 crores for a 4,133 sqft plot. Both bidders visited the MDA office to finalize the necessary documentation. Additionally, buyers must account…

IndustryLatest Stories

Mysuru’s Online Auction of Upscale Sites Draws High Bids

MYSURU: An online auction of stray MDA sites in Mysuru’s upscale neighborhoods has revealed astonishing bids. The top bid for a 745 sqft corner plot in the affluent Vijayanagar IV stage reached Rs 2 crore, significantly above the base price of Rs 59.6 lakh. Another site, spanning 4,133 sqft, garnered a bid of Rs 9 crore compared to its starting price of Rs 3.3 crore. Both properties had a base price set around Rs 8,000 per sqft, using market rates and previous sales as benchmarks. Bids for these properties have surged, often reaching two to three times the original base…