Middle class feels brunt of real estate boom in Mysore

Mysore, May 28 (UNI) The city of palaces has been developing at a rapid pace due to a boom in real estate activities ever since it was tipped to be an alternative destination to its 'rich' neighbour Bangalore, leaving the ordinary man to struggle to cope with the change.

The atmosphere witnessed in the real estate activities over the last two and a half years has succeeded in pulling people from all walks of life into its bandwagon.

Upgradation of the Mysore airport and implementing of the prestigious Bangalore-Mysore Infrastructure Corridor project and big IT companies moving into the city have made the speculators bullish, and the demand for land for residential, commercial and industrial purposes has been ever growing.

The aggressive buying of agricultural land by private developers had stalled the Mysore Urban Development Authority (MUDA), from developing big layouts. Though some ambitious proposals were unveiled and applications were called, it was said that the Authority was not in a position to distribute sites on a large scale.

Sources at MUDA told UNI that over the last two decades, nearly 1.20 lakh people had applied for sites. Apart from this, nearly 1.17 lakh aspirants had applied last year for 15,000 sites to be developed and distributed by MUDA in new areas such as Lalithadripura, Shantaveri Gopla Gowda Nagara, Lal Bahadur Shastri Nagara and R T Nagar.

Many Housing Cooperative Societies have sprung up to meet the demands of the people, following the inability of MUDA to distribute sites.

Revenue Department sources said nearly 100 Housing Cooperative Societies are operating in Mysore and were in the process of developing land on the outskirts.

According to the district Registrar's office, real estate activities were being witnessed in the radius of 35 km of Mysore city and was touching the taluks of Hunsur and Nanjangud in Mysore district and Srirangapatna in Mandya district.

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