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  • MUDA's Site Proposal Won't Affect Real Estate Prices' - The Hindu PDF

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    Karanveer Dhingra
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    'MUDA's site proposal won't affect real estate prices' MUDA has come out with a proposal to develop four new residential areas in the city and distribute over 5,000 sites in the near future. Real estate prices in Mysuru are at a high of nearly Rs. 5,000 to Rs. 6,000 per sq ft in Yadavagiri-Gokulam area, which is the highest for the city.

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    'MUDA's site proposal won't affect real estate prices' MUDA has come out with a proposal to develop four new residential areas in the city and distribute over 5,000 sites in the near future. Real estate prices in Mysuru are at a high of nearly Rs. 5,000 to Rs. 6,000 per sq ft in Yadavagiri-Gokulam area, which is the highest for the city.

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    13 views1 page

    MUDA's Site Proposal Won't Affect Real Estate Prices' - The Hindu PDF

    Uploaded by

    Karanveer Dhingra
    'MUDA's site proposal won't affect real estate prices' MUDA has come out with a proposal to develop four new residential areas in the city and distribute over 5,000 sites in the near future. Real estate prices in Mysuru are at a high of nearly Rs. 5,000 to Rs. 6,000 per sq ft in Yadavagiri-Gokulam area, which is the highest for the city.

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    of 1

    3/30/2015

    MUDAssiteproposalwontaffectrealestatepricesTheHindu

    Today'sPaper
    MUDAssiteproposalwontaffectrealestateprices
    R.KrishnaKumar

    TheMysoreUrbanDevelopmentAuthorityhascomeoutwithaproposaltodevelopfournewresidentialareasinthecityanddistributeover
    5,000sitesinthenearfuture.Photo:M.A.Sriram

    TheMysoreUrbanDevelopmentAuthoritys(MUDA)proposaltodevelopfournewresidentialareasinthecityand
    distributeover5,000sitesinthenearfuturewillnotaffectrealestatepricesinthecity.
    For,thewaitinglistitselfisinexcessof82,000asperMUDAstatisticsanditstrackrecordindistributionofsitesto
    clearthependencydoesnotinspireconfidence.
    RavindraBhat,chairman,BuildersAssociationofIndia,Karnatakachapter,toldTheHinduthatrealestatepricesin
    Mysuru,aselsewhere,followtheruleofdemandandsupplyandwhenthedemandishighthepricesshootupandvice
    versa.UnlessMUDAcomesoutwithaplantoacquire2,000to3,000acres,developsitesanddistributethemtothe
    publictoclearpendency,therealestatepriceswillnotregisteramajordip,hesaid.
    RealestatepricesinMysuruareatahighofnearlyRs.5,000toRs.6,000persqftinYadavagiriGokulamarea,which
    isthehighestforthecityandvariesfromRs.2,500persqfttoRs.4,000sqftinotherareas.
    Butapartfromthedemandandsupply,realestateratesalsohingeonotherfactorssuchasdistancefromthecentral
    businessdistrict,connectivityetc.So,evenifMUDAcomesoutwithamegaplanforclearingpendency,thesiteswill
    clearlybeabout15kmto25kmfromthecitycentreasthereisnolandinclosevicinity.
    NotmanypeopleinMysuruwillbepreparedtobuildhousesthatfarintheimmediatefutureunlessconnectivity
    improvesandamatureservicesectorwasestablished,saidMr.Bhat.
    Hence,landclosertothecitywillcontinuetocommandapremium,andtheotheralternativewhichisbeing
    increasinglymadebyalotofaspirantsistooptforapartmentsforwhichtherewasagrowingdemand,headded.
    Meanwhile,plotdevelopmentbyprivateplayersgainedprecedenceonthecityoutskirtsandithasemergedasan
    investmentoptionforpeoplewithdisposableincome.
    Butforthegenuineenduserskeentobuildahouse,distancewasaditheringfactorandhencetheyhavestayedaway
    fromit.Forthesalariedclass,asiteatanaffordableratecontinuestoremainachimeraanddoesnotmakeeconomic
    senseanymoreunlessMUDAstepsupsupply.

    http://www.thehindu.com/todayspaper/mudassiteproposalwontaffectrealestateprices/article7047440.ece

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