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The Mysuru Development Authority (MDA) has generated INR 156 crore through the auction of premium residential and commercial plots across multiple layouts in the city, reflecting sustained demand for plotted developments. The auction, concluded in the past week, saw 133 of 200 sites successfully sold, with strong participation across key micro-markets, particularly in west Mysuru. Pricing exceeded base values in several locations, indicating competitive bidding activity. While newly introduced layouts such as Vasanth Nagar recorded moderate uptake, select areas witnessed limited interest. The authority has mandated a short payment window for successful bidders, with provisions for forfeiture of deposits in case of non-compliance. The exercise forms part of MDA's broader land monetisation strategy aimed at generating revenue for infrastructure and urban development projects.
The Mysuru Development Authority (MDA) concluded an auction of premium residential and commercial sites in the past week, generating approximately INR 156 crore through the sale of 133 plots out of a total of 200 offered across various layouts in Mysuru, as part of its ongoing land monetisation exercise. Advertisement
The auction covered both corner and intermediate sites, with participation from individual buyers and investors across the city. According to officials, bidders are required to complete payment formalities within three to four days of allotment, failing which the earnest money deposit (EMD) is liable to be forfeited, reinforcing compliance within the auction framework.
Demand was strongest in west Mysuru, where plots attracted higher bids compared to base prices. Sites in these locations were transacted at rates of up to INR 13,000 per sq ft against a base price of approximately INR 7,900 per sq ft, indicating competitive bidding and sustained interest in established residential zones.
In east Mysuru, the authority introduced plots in Vasanth Nagar for the first time, with 33 out of 40 sites sold. These plots were acquired at around INR 9,000 per sq ft compared to a base price of INR 7,300 per sq ft. However, a portion of the inventory remained unsold due to limited participation, with some plots receiving only a single bid that was subsequently rejected.
In contrast, the Sathagalli area in northeast Mysuru recorded relatively lower demand, reflecting uneven buyer interest across different micro-markets. Officials indicated that unsold plots may be reintroduced in subsequent auction rounds, depending on market response and pricing adjustments.
The auction is part of a broader shift by the authority towards digital and phased disposal of land parcels, replacing traditional allotment mechanisms with competitive bidding processes. Earlier this year, the MDA had initiated an online auction model for approximately 200 sites, structured in multiple phases to ensure transparency and wider participation.
The authority has been leveraging such auctions as a key revenue generation mechanism to support infrastructure development and new layout creation. Plans have been outlined to mobilise significantly higher capital through future auctions, with proceeds earmarked for urban infrastructure projects, including road development and housing layouts.
The latest auction also reflects continued demand for plotted developments in Mysuru, driven by factors such as improving connectivity, availability of approved layouts and comparatively lower entry costs than larger metropolitan markets. Competitive bidding in select locations suggests that buyers are willing to pay premiums for plots in established residential areas, particularly where civic infrastructure is already in place.
The MDA is expected to continue similar auction exercises in phases, with a focus on monetising available land parcels while aligning pricing and supply with prevailing market conditions.
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