MYSORE: Chief Minister Siddaramaiah’s home town Mysore, once a prominent industrial hub after Bangalore, is losing its pace of growth, with industrial sites being converted into residential plots.
Vishweshwaranagar sub-urban Industrial Layout, Yadavagiri and many other areas have witnessed an increase in high-rise residential structures in recent years. Though, a few attribute this trend to boom in real estate and rapid urbanisation, others feel that shortage of labour, erratic power supply and lack of financial backup are the reasons for the conversion of industrial plots into residential sites.
Many developers and site owners have entered into joint ventures to build and market apartments in industrial areas.
The city has 26,000 industrial units, employing 2.5 lakh people at Vishweshwaranagar, Bannimantap, Hebbal, Yadavagiri, Hootaglli, Belagola and Koorgahalli Industrial Layouts. Of them, 30 per cent are functioning, 30 per cent are closed, 20 per cent are sick and the other 20 per cent sites have been converted into residential areas.
Many of those who bought land at Vishweshwaranagar, Bannimantap and Yadavagiri Industrial Areas at `1-3 per square feet in 1960s and 1970s are selling them to developers at `1,200 per sq ft.
Mysore Industries’ Association General Secretary Sureshkumar Jain said a nexus among the politicians, officials and land owners has catalysed the conversion of industrial sites into residential ones as many politicians cutting across party lines own industrial sites.
“Unless Siddaramaiah acts against zoning violations and addresses concerns of industries, this trend will not stop,” he said.
He feared that majority of the sites will be converted in the next couple of years to meet the growing demand of urbanisation if there is no intervention from the government.
However, senior KIADB officials, pleading anonymity, said they could not intervene as the land owners have title deeds with which they decide on conversion.
The development of residential plots at industrial areas has posed problems for a few industries, including those into timber.
Some industries may move out of the city or close down for various reasons including shortage of labour, it is said.
This trend has set a shadow on the industrial growth of the city as land sharks and realtors are targeting it.
