Mysore is fast emerging is the next best preferred destination in the South. The prevailing affordable property prices and availability of space in comparison to neighbourhood cities has attracted investors and buyers to the city.
In addition, ongoing infrastructure activities have fuelled real estate demand and supply in the city. Going with the market sources, Mysore property market is developing at a slow and steady pace, witnessing an average appreciation of 5-10% across the city.
According to Pravow Prasad, city based property dealer, “Both the rental and capital values of apartments are seeing an upward trend. New multi-storey apartments are also being launched in the city and are witnessing fair number of transactions.”
Pollution free environment and less cost of construction, maintenance and traffic free roads are the main attributes resulting in expansion of realty sector here.
Another factor fuelling this trend, according to Manish Gupta, local realtor is, “Mysore is very well connected to Bangalore and it is proving to be very advantageous for the city. Most of the multinational companies set up in Bangalore are moving to Mysore to set up their back hand offices.”
Ongoing infrastructure development projects such as construction of double track Indian railway line which will reduce the travelling time from Mysore to Bangalore less than one hour is also making the city more favorable.
Mysore Urban Development Authority (MUDA) is also developing new towns, new layouts, roads and expressways to further enhance connectivity within the city and with the neighbouring cities are also on track.
By and large Mysore’s affordability and availability is fetching buyers, IT industries, developers and investors attention and there are new project mushrooming in the city. Long term returns are estimated on investments as anticipated by market sources.
I bought a plot in Mysore 2 years back.No sign of appreciation.Very slow market.
ReplyDelete