Mysore/Mysuru: Today’s MDA meeting has raised hopes for the real estate sector — one of the Authority’s key sources of revenue — which is currently witnessing  a slowdown.

The absence of timely meetings had stalled approvals for new residential layouts, bringing project planning and execution to a standstill.

Developers are reeling under mounting financial pressure due to rising loan interest rates and shrinking returns on investment. Delays have also eroded customer trust, as developers struggle to deliver sites on time.

Industry representatives have voiced concerns that prolonged uncertainty is discouraging fresh investments and dragging down related business activities. Banking transactions linked to new projects have also been impacted. Government coffers, too, are feeling the pinch, as this once-steady revenue stream has all but dried up.