Land prices on the rise in and around Mysore

Mysore, Mar 18 (UNI) Thousands of acres of farm land around this heritage city of Mysore has been converted into sites and prices have skyrocketed since the city became a hot-spot for industrial investment.

The land has become a precious commodity in and around the city, ever since it has become a top IT city in the country.

The acquisition of large farm lands on the outskirts of the city for the purpose by private developers as well as the Mysore Urban Development Authority (MUDA) has not only raised the question over the agricultural activities.

Private developers, who have already created 25,000 sites of various dimensions in and around Mysore in the last couple of years could well churn out an additional 35,000 to 40,000 residential sites from the 2,000 acres of agricultural land, which was awaiting a clearance from the government.

There was a virtual scramble for land by private developers, who had bought land even at distance more than 20 km from the city.

One of the leading developers of the city Sukee Developers and constructions Excutive Director Siddaraju told UNI that the land rates which was just Rs three lakhs per acre just a year ago, now reaching Rs 30 to Rs 35 lakhs per acre which is about 15 to 20 km from the city.

"The farmers have been readily selling their lands to private developers and their fortunes are an on upswing ever since land development was taken up around Mysore on a large scale," he added.

MUDA has been accused of sluggishness in creating layouts, leading to the waiting list of site aspirants. MUDA officials however claimed building of layouts on more than 5000 acres of land were in the the pipeline.

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