Mysore Urban Development Authority (MUDA) Proposes New Housing Project with Landowner Partnership
The Mysore Urban Development Authority (MUDA) is planning a new residential development project on approximately 1,000 acres of land. This project will involve a unique partnership with farmers and landowners.
Key Details:
- Project Goal: Develop residential plots on 1,000 acres of land.
- Land Acquisition:
- Partner with farmers and landowners through a 50:50 joint venture.
- MUDA has identified 250 acres in Daaripura village and 750 acres in Bommenahalli village for initial development.
- Farmers will receive developed plots in exchange for their land.
- MUDA will offer an advance of ₹10 lakh per farmer, adjustable against the developed plot.
- Project Benefits:
- Expected to yield approximately 12,000 residential plots (18 plots per acre).
- Marks MUDA’s first-ever 50:50 joint venture development project.
- Project Status:
- MUDA has received consent letters from a significant number of farmers (specific percentage not mentioned).
- A meeting with the government is planned once 50% of consent is secured.
- MUDA is prepared to begin development with as little as 100 acres of land under the joint venture.
- Last allotment of sites by MUDA was in 2017.
MUDA is confident that this partnership model will be successful and will allow them to develop much-needed housing plots for the city.
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