Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
The Mysuru Development Authority (MDA) has announced an auction of about 200 residential and commercial plots in the city, following strong interest from buyers in past rounds. Premium plots in areas like JP Nagar and Vijayanagar have base prices ranging from INR 3.3 crore to INR 3.5 crore, while smaller and mid sized sites in Hebbal, Gayathripuram, Dattagalli, and Vasanth Nagar are priced between under INR 1 crore and INR 2.5 crore. Online auctions will be conducted in phases from late March to early April, with minimum bid increments set to maintain systematic bidding.
The Mysuru Development Authority (MDA) has put approximately 200 plots up for auction, reflecting a continuing rise in buyer interest in the city's residential and commercial land. The move comes after previous auction rounds recorded strong participation, with a 4,133 sq ft site receiving bids up to INR 8.6 crore. Officials noted that demand has steadily increased due to improving urban development, infrastructure projects, and Mysuru's growing connectivity. Advertisement
Among the plots, three premium commercial corner sites one in JP Nagar and two in Vijayanagar IV Stage have base prices ranging from INR 3.3 crore to INR 3.5 crore, with per sq ft rates between INR 7,300 and INR 7,900. In addition, six sites are priced between INR 2.1 crore and INR 2.5 crore, 15 sites fall in the INR 1.5 crore to INR 2 crore bracket, and 42 sites are offered between INR 1 crore and INR 1.5 crore. Several smaller plots are priced below INR 1 crore, catering to a wider range of buyers.
The auction will be conducted online in multiple phases from late March to early April, with minimum bid increments of INR 25,000 for plots below INR 1 crore and INR 1 lakh for higher priced sites. This structured bidding ensures a fair and transparent process for all participants.
Residential plots in localities like Vijayanagar and Dattagalli are offered at around INR 5,200 per sq ft, while commercial corner plots in the same areas are priced near INR 7,900 per sq ft. Plots in Hebbal and Gayathripuram I Stage are listed at approximately INR 6,000 and INR 5,900 per sq ft respectively. Other areas, including Vasanth Nagar and Hanchya Sathagalli B Zone, have base rates ranging from INR 3,400 to INR 5,900 per sq ft. Around Devanur, over a dozen plots are listed with base prices of nearly INR 98.1 lakh.
MDA's commissioner, KR Rakshith, highlighted that the auction aims to capitalise on the strong market demand and to promote investment in Mysuru's upcoming growth corridors. Officials expect particularly competitive bidding for plots in prime locations due to their potential for residential and commercial development, which has attracted both investors and developers in past auctions.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
