MUDA Mysuru Budget, New Affordable Housing Scheme & Group Housing

Thrust of MUDA Mysuru budget is on new projects for Mysuru and the authority has given emphasis on affordable housing scheme for which group housing.

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MUDA Mysuru Budget, New Affordable Housing Scheme & Group Housing

MUDA Mysuru budget (Mysuru Urban Development Authority) for 2018-19, tabled on Friday, projected a revenue of Rs 323.35 crore against expenditure of Rs 321.17 crore, leaving it with a surplus of Rs 1.64 crore.

Also Read: Budget 2018 : Real Estate Sector & Real Changes For Affordable Housing

The bulk of the projected revenue is anticipated from the sale of sites and creation of new layouts, including distribution of 530 sites in Lalithadri Nagar 1st, which is expected to fetch MUDA Rs 38 crore. Likewise, auction of corner and stray sites is expected to fetch the authority Rs 130 crore, and distribution of 86 CA sites will help it garner Rs 30 crore.

Mysuru budget, which was tabled by MUDA Commissioner, expects Rs 40 crore by way of sanctioning plans and approval of private layouts. Interest on deposits, rentals from commercial establishments, tax on sites and vacant property, fines etc will add up to another Rs 58.25 crore.

Also Read: 25,000 Crore Extra Budgetary Resources For Implementation Of PMAY: MoHUA

Revenue and expenditure apart, the thrust of MUDA Mysuru budget is on new projects for Mysuru and the authority has given emphasis on affordable housing scheme for which group housing will be taken up at Ramakrishna Nagar E and F block, Bogadi, Gokulam 3rd stage, Hinkal, near ORR. A model unit will be constructed at Gokulam for which a DPR has been prepared with IDECK.

Also Read: Government Budget 2018-19 Continued It’s Thrust For Affordable Housing

MUDA will take up plot development at Balahalli and Kenchalagudu on a 50:50 basis with farmers, as per which owners will transfer land to MUDA, which will develop the property at its cost, transfer 50% of the developed plot to land owners as compensation in lieu of surrendering land. Under this, the MUDA plans to create 6,155 sites at Ballahalli where it plans to acquire 381.01 acres and nearly 6,000 sites at Kenchalagudu. A group housing project is also planned at Kenchalagudu on a 40-acre plot.

Source Link- http://www.thehindu.com/.

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