Mysore is just 146 KM from Bangalore. The present Real Estate Mysore is booming due to the expansion of outer areas of Bangalore as IT SEZ areas on the Bangalore Mysore road. Since, the Infrastructure Corridor to connect Mysore and Bangalore by express highway took shape, the land value near the ORR also increased rapidly. Now Mysore is becoming sister city of Bangalore by concentration of new office space for IT industries. Already, IT companies are many in Mysore due to the cheap office space availability than Bangalore. This also made new work force to migrate towards Mysore for better opportunity. The same way the realty Mysore is developing many of the standards residential of commercial projects to make equal with Bangalore city by coming decade.
Bangalore – Mysore IT Corridor
Presently the IT hubs present near the Bangalore – Mysore road paved real estate agents of Mysore a great boom in realty prices. Currently they are mostly concentrating on commercial projects on the sides of this highway. On the other hand, there are many upcoming residential projects to accommodate the IT working force. It is advisable to book a flat or apartment now to ripe a better percentage of profit in long term as investment or to buy as end use in Mysore.
Bangalore – Mysore Express Highway and Mysore Realty Development
The present eight line plans for express highway as boost up Mysore real estate agent to grab land for plot development purpose. Since, there is an estimate of approval for 10 million Sq ft of residential projects in these areas. It is advisable to buy vacant lands adjacent to the express highway.
Apartment Culture in Mysore
Presently the demand for apartments is by the IT working masses only. The Mysore residents do not yet prefer either the apartment culture. Since, many of the completed residential projects by mega builders remain un-sold in the prime areas itself. This is because there are many conventional homes present here for cheaper rent. Those IT people who buy these apartments are for end use in Mysore. However, there is more scope to earn a rental income if you own an apartment now in Mysore. There is a certainty that in a decade time Mysore will be equal net to Bangalore city of the present time.
Real Estate Market of Mysore
With the present change in government, the real estate agents of Mysore are in positive approach towards property development in Mysore. They now concentrate in central areas like outer ring road (ORR). The present land value is INR 1200 to INR 3000 psf. The ORR outer areas the vacant land are sold from INR 70 Lakhs to 2 Crore for an acer. The mega developers are mostly concentration to accrue land for gated community residential projects in these areas. However, the plans for integrated housing projects are currently in completion stage in Mysore. The scope of realty Mysore is more in the long-run as of now.