ISRO scientists have given the green signal to the engineering model, while the flight model is being assembled in Banglore, IITK Registrar Sanjeev Kashalkar said.
Over 62 students and faculty members of the institute worked hard to built `Jugnu` weighing 3 kg, he said.
On being asked about the delay in the project, he said it took some time for the faculty members and students as it was an indigenously built satellite.
"Jugnu is likely to be launched by the end of next month if everything goes according to our plans," he said.
Even though Rs two crore was sanctioned for developing the satellite, the cost was brought down to a lesser amount as the institute came up with indigenous technique, he said.
Both ISRO and IIT-K had signed an MoU to develop the micro satellite in 2008.
The satellite which will be in the space for about a year will be launched with the help of Polar Satellite Launch Vehicle (PSLV), he said.
The data received from `Jugnu` will be studied with the help of a tracking system installed at IIT-K and the received pictures and information from it will be used for research purpose.
The satellite will help in gathering information regarding flood, drought and disaster management, he said, adding its control room and ground station both will be at IIT-K.