Mysuru development body to transfer 900 residential layouts
Real Estate

Mysuru development body to transfer 900 residential layouts

Mysuru Urban Development Authority (Muda) has initiated the transfer of 900 residential layouts on the city's outskirts to urban local bodies (ULB), bringing relief to 38,224 site owners. Muda administrator and deputy commissioner G Lakshikantha Reddy is overseeing this transition, which will enable site owners to obtain their pending khatas for years. During a recent meeting, G Lakshmikanth Reddy announced the transfer of these layouts, including 194 parks developed across 3,830 acres and eight guntas of land. The areas fall under newly formed local bodies, including Hootagally CMC, Bogadi Town Municipal Council, Kadakola, Srirampur, Rammanahalli town panchayats, and 19 gram panchayat limits. The initial phase involves transferring 200 fully developed residential layouts with complete infrastructure to Hootagally City Municipal Council on Nov 8. Chief minister Siddaramaiah and district minister HC Mahadevappa are expected to attend this meeting. Muda has planned the systematic transfer of remaining layouts to local authorities. The first phase will benefit 15,085 site owners who can receive khatas from their local bodies after the transfer process Despite local bodies having authority to collect property taxes and maintain amenities, Muda previously restricted their ability to issue khatas. In July, Muda stopped issuing khatas for sites under local authorities, causing difficulties for developers, buyers, and residents in obtaining loans and transferring properties. Residents faced challenges in securing loans against their properties for education, medical expenses, and other needs due to the absence of khata transfer documents. Muda administrator Lakshmikanth Reddy told TOI that the transfer process would be transparent and systematic. He instructed local bodies to conduct joint surveys and prepare development work lists before the Nov 8 meeting, ensuring proper documentation for govt grants.

Mysuru Urban Development Authority (Muda) has initiated the transfer of 900 residential layouts on the city's outskirts to urban local bodies (ULB), bringing relief to 38,224 site owners. Muda administrator and deputy commissioner G Lakshikantha Reddy is overseeing this transition, which will enable site owners to obtain their pending khatas for years. During a recent meeting, G Lakshmikanth Reddy announced the transfer of these layouts, including 194 parks developed across 3,830 acres and eight guntas of land. The areas fall under newly formed local bodies, including Hootagally CMC, Bogadi Town Municipal Council, Kadakola, Srirampur, Rammanahalli town panchayats, and 19 gram panchayat limits. The initial phase involves transferring 200 fully developed residential layouts with complete infrastructure to Hootagally City Municipal Council on Nov 8. Chief minister Siddaramaiah and district minister HC Mahadevappa are expected to attend this meeting. Muda has planned the systematic transfer of remaining layouts to local authorities. The first phase will benefit 15,085 site owners who can receive khatas from their local bodies after the transfer process Despite local bodies having authority to collect property taxes and maintain amenities, Muda previously restricted their ability to issue khatas. In July, Muda stopped issuing khatas for sites under local authorities, causing difficulties for developers, buyers, and residents in obtaining loans and transferring properties. Residents faced challenges in securing loans against their properties for education, medical expenses, and other needs due to the absence of khata transfer documents. Muda administrator Lakshmikanth Reddy told TOI that the transfer process would be transparent and systematic. He instructed local bodies to conduct joint surveys and prepare development work lists before the Nov 8 meeting, ensuring proper documentation for govt grants.

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement