Mysore: A Destination worth Investing

Mysore (or Mysuru) is located in the southern part of India and abounds in  numerous experiences that make it a part of every traveller’s dream itinerary.

The city is located at the base of Chamundi Hills. Mysore is also known as the “Palace City of India”. The kingdom of was once ruled by the Wodeyar Dynasty, which has contributed a lot to the art and culture to the city.

The affordable housing segment of Bangalore has been witnessing constant demand towards outskirt. Thanks to the availability of large land parcels at lower price points and the rapid expansion of the city in all directions; which have encouraged real estate developments even in the out-of-the-way areas. In addition to this, the rapid infrastructural developments such as planned Metro Rail and Peripheral Ring Road have been fueling the residential infrastructural development and buying demand across the outskirts of Bangalore.

Transmuting Mysore Road

Once a backyard of nature, Mysore Road has now transformed itself into a real estate hot spot of Bangalore. Today it is home to fasted growing localities such as Kengeri, Basavanapura, Rajarajeshwari Nagar, Subramanyapura, and Banashankari with multiple investment options available for the citizens from all social strata. Mysore Road has embarked on an inclining realty growth path supported by unique accessibility to some of the popular tourist destinations including Ramanagara, Mandya, and Channapatna.

Growth Scenario

Compared to other parts of the city, Mysore Road’s residential pocket has had a slow start regarding real estate activity with not so strong economic drivers for the area. But the scenario is somewhat different today. With the picture of the Global Tech Village in addition to the swanky BMIC corridor resulted in the launch of many residential projects around this location.The ongoing infrastructure developments such as Peripheral Ring Road, Metro line and widening of roads improved the real estate profile of this market.

Outlook

The residential sector in this location is mostly dominated by low- and mid-end plots & apartment projects and residential plotted development for future proof real estate investments. The realestate outlook Mysore Road and surroundings is healthy, as there is not much pressure from a supply perspective, which results in stable and sustained growth. The land values are comparatively small in this part of the city. An added advantage is that there are many infrastructure projects towards this area, which will lead to improved connectivity and increase residential value in the coming future, which makes Mysore Road an attractive investment proposition over the mid-to-long term.The housing sector is expected to perform well as residential projects in this region are primarily viewed as assets for end-use rather than investments. This location has many prominent educational institutions, hospitals and leisure and entertainment centers, including Wonder La Amusement Park, Innovative Film City, and Eagleton Golf Club. The population base in the vicinity is increasing due to increased commercial and residential activities. This offers improved feasibility for residential developments shortly.