Muda Site Buyers Wary After ED Property Attachment Announcement

Prospective buyers of sites under the Mysore Urban Development Authority (Muda) are proceeding with caution following the Enforcement Directorate's (ED) announcement in mid-January regarding the attachment of properties linked to the controversial 50:50 scheme in Mysuru. While the ED's directive isn't legally binding on the stamps and registration department, it has created skepticism among potential buyers.

Sub-registrar office officials clarified that they will only formally attach properties if a court issues an injunction. One sub-registrar, speaking anonymously, confirmed receiving communication from the ED in Bengaluru, providing details of sites under investigation. 

While a booklet containing site information was distributed to sub-registrars, it didn't explicitly prohibit property registration. The sub-registrar stated that they are simply keeping the information on file and tracking transactions related to the sites in question, particularly in Dattagalli and Vijayanagar.

Another officer mentioned that some sites have already changed hands. After the initial registration from Muda to the allottee, subsequent registrations occur at the respective sub-registrar offices. This process adds complexity to the situation and makes tracking potentially problematic transactions more difficult.

Real estate consultant Adish Sagar MD noted the confusion among buyers and sellers due to the ED's attachment notice. He recounted advising two owners/buyers of disputed sites to postpone their transactions until the situation becomes clearer. The uncertainty surrounding the legality of these transactions is causing hesitation in the market.

A Muda official explained that their role in the attachment process is limited, as the sites have already been distributed by the urban development authority.