Tag: Mysuru Development Authority

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Mysuru body to raise ₹1,000 crore via online plot auctions

Representative AI image MYSURU: The Mysuru Development Authority (MDA) plans to raise ₹1,000 crores through the auction of its vacant plots, which include various corner sites across different layouts. This online auction aims to generate funds for developmental projects and to deter encroachment by land sharks while ensuring better land asset utilization. Approximately 150 acres of land in numerous layouts like Vijayanagar (I to IV stages), Lalithadri Nagar, Vijayshreepura, Dattagalli, JP Nagar, Devanuru, Rajiv Nagar, and Hebbal are available for the urban body. After developing around 700 layouts, which were transferred to urban local bodies such as Hootagally CMC and…

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MDA Blocks 200 Sites Amid Surge in Mysuru Demand

Representative AI image MYSURU: The Mysuru Development Authority (MDA) has announced an auction for three commercial corner sites—one in JP Nagar (south Mysuru) and two in Vijayanagar IV Stage (west Mysuru)—with base prices between Rs 3.3 crore and Rs 3.5 crore. Following a successful sale of a premium 4,133 sqft plot, which fetched Rs 8.6 crore, the authority has set the base prices for the new premium plots at Rs 7,300 to Rs 7,900 per sqft. In addition, MDA is auctioning six sites priced between Rs 2.1 crore and Rs 2.5 crore, 15 sites from Rs 1.5 crore to Rs…

InfrastructureLatest Stories

Mysuru Civic Body Begins Construction Demolition Plant Work

Representative image created by AI MYSURU: The Mysuru City Corporation (MCC) has commenced the establishment of a construction and demolition (C&D) waste processing plant. This facility, approved by the Mysuru Development Authority, will be set up on a 9-acre site in Hanchya-Sathagalli, adjacent to the Outer Ring Road, with an investment of ₹11.7 crore. MCC has started collecting construction debris and is currently dumping it at the Hanchya-Sathagalli location. Out of the 500 tonnes of solid waste generated daily in the city, approximately 100 tonnes consist of C&D waste. This initiative is pivotal for enhancing Mysuru’s cleanliness ranking, as part…

InfrastructureLatest Stories

Mysuru Body Proposes Expansion of Local Planning Area Amid Doubts

MYSURU: The Mysuru Development Authority (MDA) is planning to expand its local planning area (LPA) from 519 sq km to nearly 1,200 sq km, potentially increasing its administrative coverage over the city’s development. This proposal aims to facilitate more organized and centralized planning; however, there are concerns that it does not sufficiently address Mysuru’s rapid growth or the necessity for solid mass transportation infrastructure. MDA’s in-charge commissioner, K R Rakshith, informed TOI that since the authority’s establishment eight months ago, three board meetings have taken place. During the latest meeting last month, chaired by the deputy commissioner, the board decided…

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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 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…

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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…