Even with the shadow of the MUDA land scam still looming large, Mysuru residents are showing no hesitation in bidding for prime residential plots offered by the Mysuru Development Authority, earlier known as MUDA. The latest round of e-auctions has set record-breaking benchmarks in pricing, pushing Mysuru’s real estate closer to Bengaluru’s premium levels.
One of the biggest highlights was a 50×80 ft. site behind Muktidhama, which sold for a staggering ₹9 crore — translating to ₹22,500 per square foot. Even more astonishing was the sale of a 20×30 ft. corner site, which went for ₹2 crore. At ₹33,333 per square foot, it became the highest rate recorded in the entire auction.
So far, 75 sites have been sold, generating a massive ₹100 crore in revenue for the Authority. A total of 200 sites are up for grabs — 50 under single-bid conditions and 75 more set to go under the hammer in upcoming auctions. With a land bank of 500 sites, the MDA expects to mobilize nearly ₹500 crore, funds that are earmarked for the ambitious Peripheral Ring Road project.
The bidding process itself saw intense competition. The ₹9 crore site attracted five serious bidders before eventually being snapped up by a liquor merchant. The ₹2 crore corner site witnessed a close contest among seven bidders until the final moments. Six other 50×80 ft. plots were sold at around ₹18,500 per square foot, showing just how heated the auction has become.
Experts believe this trend will ripple across Mysuru’s real estate market, pushing prices in nearby areas significantly higher. Beneficiaries of the 50:50 MUDA scheme are also likely to quote steeper prices for their plots, using the e-auction rates as benchmarks.
However, the boom carries its own risks. The Enforcement Directorate has already stepped in, directing all Sub-Registrars in Mysuru not to register 200 sites that have been attached in connection with the MUDA scam. While the ED has circulated an internal list of these restricted sites, it has yet to release the details publicly. This uncertainty has raised fears of possible fraud if unsuspecting buyers fail to verify the legal status of properties before purchase.
In short, Mysuru’s MDA e-auctions have not only broken records but also reshaped the city’s property market outlook. While the Authority stands to gain unprecedented revenue, the ED’s restrictions serve as a cautionary reminder: in the rush to invest, buyers must exercise diligence to avoid getting caught in the aftershocks of the MUDA scam.