The Mysuru Urban Development Authority (MUDA) will soon invite applications from the public for apartments to be constructed in the city.
The authority, which received administrative approval for construction for 2,000 apartments early this year, has submitted the estimated cost per unit and the amount that can be levied on the beneficiary, and is awaiting final clearance from the government.
MUDA chairman K.R. Mohan Kumar told The Hindu on the sidelines of a realty exhibition on Friday that the final cost may be approved by the government in 15 days. “The land on which the apartments will be built was acquired long ago at a lower rate, hence we will keep the unit cost low and affordable,” Mr. Kumar said.
The apartments will come up in different residential areas of the city where MUDA has vacant plots, and the plan is to construct 1 BHK and 2 BHK apartments for the middle and lower-middle income category. “We are targeting residents of Mysuru who do not have a house, and there will be stringent norms and terms to prevent investors to prevent resale of property,” he said. In addition to the 2,000 apartments, the MUDA will also call for applications for sites at Lalitadripura.
Meanwhile, there is a possibility of MUDA taking the assistance of Builders Association of India (BAI) in constructing the apartments.
BAI chairman N. Subramanya said ‘My Realty 2016’ showcases existing and proposed projects in and around Mysuru region and is tailor-made for potential buyers. The realty exhibition is being held at Jayamma Govindegowda Convention Hall at Kuvempunagar and will conclude on Sunday.
