Mysuru corporation leases properties in prime locations in the city

24 Sep 2021 CW Team

The Mysuru corporation has leased out its properties in prime locations throughout the city to generate revenue.

The municipal agency is now planning to raise revenue by monetising two of its prime central business district (CBD) properties, which have been turned into illegal parking lots and are now home to street food stalls and were previously used to run fuel stations.

The civic body has been leasing four properties in prime locations for private agencies to run fuel stations for several years, as per the MCC council's decision and the state government's approval, for a 30-year lease period.

While private agencies continue to operate their fuel stations on MCC properties on Sayyaji Rao Road, the fuel stations behind the MCC head office on New Sayyaji Rao Road near Mysuru Palace and at Ramaswamy Circle on Jhansi Lakshmi Bhai Road were closed several years ago due to various technical reasons.

Since the MCC was unable to make use of the properties, they were used to park cars and set up food stalls.

Sunanda Palanetra, a BJP corporator from Kuvempunagar M Block ward, has been raising the issue in the council for the past 15 years to help the civic agency earn revenue from properties in the city's heart. Palanetra has taken it upon herself, now that she has been elected mayor, to find a solution to the properties that have been vacant for several years.

MCC council ruling party leader Shivakumar told the media that they are also talking about putting both properties to good use for the company.

In terms of the property at Ramaswamy Circle, Shivakumar said that they intend to use it to run the MCC office, which will collect taxes, issue trade licences, and provide other public services.

Image Source

Also read: First-sale property e-registrations in Maharashtra to begin from Oct

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..