MDA plans to raise Rs 1,000 cr by auctioning vacant plots online

Mysuru: Mysuru Development Authority (MDA) planned to mobilise Rs 1,000 crore by auctioning its vacant plots, including corner sites, of various measurements located in different layouts under its jurisdiction. It invited bids for an online auction and planned to generate funds for the developmental projects. The move also aimed to prevent encroachment of its properties by land sharks and ensure better utilisation of the land assets.About 150 acres of land in layouts developed within MDA jurisdiction, including Vijayanagar I, II, III and IV stages, Lalithadri Nagar, Vijayshreepura, Dattagalli, JP Nagar, Devanuru, Rajiv Nagar, Hebbal and several other layouts, was available with the urban body.
After 700 layouts were developed within MDA jurisdiction and were transferred to other urban local bodies like Hootagally CMC, Rammanahalli, Kadakola, Bogadhi and Srirampura town panchayats, MDA's revenue was affected as it lost property fees and cess. The cash-starved MDA decided to mobilise financial resources for its future projects like development of new layouts at Bommenahalli, group houses, construction of apartments, and development of the peripheral ring road (PRR).MDA worked out a plan to develop sites of different measurements like 20X30, 30X40, and 40X60 on about 150 to 200 acres of land available in various areas across the city, and generate Rs 1,000 crore by bidding these sites online after developing them. Speaking to TOI, MDA in-charge commissioner KR Rakshith said that MDA planned to develop sites on its vacant plots, which were about 150 acres of land. He said the developed sites would be auctioned online instead of inviting applications and allotting sites.MDA wrote a letter to the urban development department seeking its permission to develop sites on its vacant plots to generate resources for its future projects, he stated.The MDA also initiated measures for development of a new layout at Bommenahalli on a 50:50 ratio, he said, adding that several landowners signed the agreement with MDA. These sites will be allotted to applicants at affordable prices, he said.