The MUDA is e-auctioning all these corner sites off currently - they have quite a lot. They also plan on getting around Rs 34 cr on selling the civic amenities sites.
Well I think that the interest among the property buyers will help generate enough funds in the coming year. In fact the amount projected in the 2014-15 year is Rs 240.56 cr.
So because of the shortage in funds they have to generate the Rs 60 crores somehow, so the MUDA are now selling off the corner sites as well as the intermediate sites in a rush.
There is a definite interest among the buyers to go for sites in Mysore, since it is the leading tier II city in Karnataka. Initially, In 2013-14, it projected to generate Rs 150.95 crore from the sale of corner and intermediate sites
Basically, back In 2013-14, it was supposed generate Rs 150.95 crore from the sale of corner and intermediate sites, but has actually earned Rs 142.15 crore till last December
Yes currently they are unable to allot sites, but they need the money, so they will also continue to develop new layouts to clear the applications pending with it for over a decade