MYSURU: Mysuru Urban Development Authority (Muda) on Thursday announced its plans to build a five-star hotel and commercial complexes in west Mysuru under public-private partnership.
Muda commissioner AN Raghunandan presented a budget of Rs 871 crore focusing on building a star hotel on five acres in Vijayashreepura survey No. 1 and a commercial complex on three acres in the same survey number. Another shopping complex on a five-acre area in Vijayanagar III stage in A block too has been decided.
Besides, the urban body has reserved Rs 7.7 crore to prepare DPAR for 105km six-lane peripheral road of 45m width. The commissioner said the peripheral road is a requirement given the growing vehicle population which is currently eight lakh. The figure is apart from tens of thousands of outstation vehicles passing through the city, which is receiving four million tourists, he said.
Muda has also reserved funds for the development of layouts in Basavanahalli, Bogadi, Devanur and Dattagalli. The urban body has also reserved Rs 10 crore for the sports complex in Vijayanagar IV stage.
Muda has reserved Rs 100 crore for the development of layouts in Mysuru-Nanjangud local planning area by purchasing land directly from the farmers. Besides, funds have been reserved for park development and Lalbagh park in Kukkarahalli lake area.
The major source of revenue of Rs 200 crore is expected from auctioning of corner, intermediate and houses during the fiscal 2025-26. Other revenue sources include, allotment of bit of land and piece land, civic amenity sites. It would also earn an interest of Rs 26 crore from fixed deposit for the current financial year 2025-26.
Muda has reserved Rs 23.8 crore for the completion of the Ambedkar Bhavan project in Mysuru city.
DC G Lakshmikanth Reddy, who is chairman of Muda, chaired the special budget. Legislators-members Tanveer Sait, GT Devegowda, K Harish Gowda, Darshan Dhruvanarayan, TS Srivatsa, Ramesh Bandisiddegowda, Manjegowda CN, D Thimmaiah, and K Vivekananda were present.
