07/09/2015
Mysuru or Mysore is soon set to surpass Bangalore and become a ‘smart city’. This is not just because its home to one of the biggest IT campuses but also because the city is all set to receive a face-lift. The sanction of INR 3,000 crore to widen the Bangalore Mysore National Highway into a six-laner has attracted a lot of investment. Developments along the proposed Film City and the presence of many reputed MNCs has surely made this city a haven for both end users and investors.
The city today is fast shedding its image of being a getaway destination and is fast becoming a residential hotspot that is enticing many property seekers and home buyers from different parts of the world. Properties in Mysore are becoming good investment opportunities and the realty boom is paving way for the construction of many multistorey buildings. Real estate developers with both local and national existence are now creating state of the art residential spaces that are considered ideal for the cosmopolitan crowd. Wooing its potential home buyers by offering generous living spaces at economical prices, apartments in Mysore are witnessing a high demand.
2 BHK apartments in Mysore which measure between 800 and 1,200 square feet are estimated to cost anywhere between INR 32 lakhs and INR 90 lakhs. For all those who are looking towards more luxurious properties, 3 BHK homes that are sized between 1,500and 2,700 square feet are estimated to cost an average of INR 1 crore. With a number of NRIs and second time home buyers from Bangalore City driving the realty market, property developers are creating extraordinary capital ventures that cater to their needs and wants.
According to recent reports, over 30 project in the city are being developed for NRIs alone. Lower home loan interest rates and the opportunity to own a property in their homeland has motivated NRIs to invest here. The modern day amenities which meet the global standards and the access to in-house entertainment zones are enticing many Non Resident Indians to invest in properties in Mysore. Reputed players are now targeting them and are creating various luxurious projects in vicinities like VV Mohalla and Yadavgiri. These luxury abodes are expected to cost an average of INR 6,200 per square feet, however the prices are likely to differ based on the specifications and facilities provided by the builder.
Its proximity to Bangalore via the expressway and the proposed super-fast trains are other elements that are further aiding the realty demand here.
