Evolution of Mysore Real Estate

Have you ever visited Karnataka and wondered if you could live there?

Have you ever thought of investing in buying a house in a south Indian state?

Have you ever thought of investing in Mysore ?
 
Then you probably should go through this article that tells you not only about the real estate of Mysore but also about how it has evolved over the years.

Before we talk about the real estate market of mysore, lets quickly look into the history of Mysore as a city.


Quick peek.

Story of Mysore in  Brief.

Mysore (or Mysuru), a city in India's southwestern Karnataka state, Mythologically known to have been ruled by mahishasura (The buffaloe headed demon) who was later killed by the Goddess chamundeshwari, named after her the chamundeshwari temple at the top which then became the capital of the Kingdom of Mysore from 1399 to 1947.

The center of Mysore is the opulent Mysore Palace, seat of the former ruling Wodeyar dynasty. The palace holds different cultures and blends with the styles of Hindu, Islamic, Gothic and Rajput styles. Mysore additionally with pride homes the Devaraja Market which is many centuries-old. It is filled with spices, silk and sandalwood.

Area: 155.7 km²
Population: 9.21 lakhs (2011)

With that there is no need to explain why there is a greed for investment in such a city, however let’s look further into the why’s?


Evolution of Mysore - Does Banglore play a Major role?


Why is mysore becoming one of the Real estate hotspots?

The quaint city of Mysore is now fast-emerging as a real estate hot-spot in Karnataka. Even though Bangalore is one of the top cities to invest in and still remains to be one, the bustling city life and busy lives of the people, coupled with unusual traffic and  extremely high pollution levels, are pushing potential investors  or homebuyers to consider other neighboring cities as an option for real estate investment. Owing to this, there has been a striking increase in the number of families who prefer moving to the quiet and safe localities of Mysore.


What do you look for, when buying a property of your own?

Property analysts believe that majority of people look for a trend, the environment,  infrastructure, good neighbourhood, schools and institutions , transportation or rather commutation to their office, college etc and  the most important would be the Future that the city holds.


So let’s look at what mysore holds in terms of the above mentioned criterias: 

Are you frustrated with the pollution created during your commute to your office/workplace? Or are you seeking for a healthy environment in your day to day life? Then here is what you need to know.

For starters, Mysore was ranked as the cleanest city in India the Union Urban Development Ministry for the second time in a row.

 As a popular tourist spot, Mysore is majorly known for its natural beauty. The serene environment provides citizens all they can dream of. An addition was made to the exiting beauty of Mysore when the Tree Park was inaugurated here last year. The park is being developed at Yelwal, just 10 kilometres away from Mysore. The tree park is spread over 500 acres of land and is created as an initiative to maintain the green cover, allowing the citizens to breath fresh and healthy air.
Now that we covered its Natural beauty let’s have a look at the Infrastructural aspect of Mysore city.


Infrastructure :

Mysore is a growing city a developing one, while most of the development till date has happened around the Ring road localities. This caters to the housing needs of numerous buyers, of which most of the large chunks of vacant land that was available across the road along with a well intact infrastructure has attracted many renowned builders too. The Outer ring road has already impacted the realty for this city, other developments such as Film city NICE corridor etc are expected to influence further


Futuristic goals

Mysore Master plan 2031 :

The plan proposes expansion of the mysore Airport. In addition to this, the Mysore Urban Development Authority (MDUA) plans to develop a Film City, an International Convention Centre and tourism facilities (hotels) near the airport. All this will give a major boost to Mysore real estate market especially the areas surrounding the airport.


Bangalore -Mysore Infrastructure Corridor :

Also known as the NICE corridor - is a 111km long proposed 4 to 6 lane private tolled expressway that ideally  intended to connect the two major cities of Karnataka namely Bangalore and Mysore. This corridor will help cut down the travel time which was ideally 4 hours to mere 9o minutes .

This corridor could help Mysore pick-up a pace just like Pune did after coming up with Mumbai-Pune Expressway, which reduced the travel time between the two cities to two hours. This not only resulted in the development of infrastructure but created a lot of job opportunities in Pune. A similar story is expected to recur in the city Mysore of Karnataka.


Rival to Bangalore

Currently, the only drawback that Mysore holds, according to realty experts, is that several projects are being constructed at a slow pace and it will take a little time for other IT companies to follow the footsteps of Infosys and Wipro. Mysore almost has all the potential to rival Bangalore, all it needs now is the infrastructure projects to materialize quickly enough.


Job opportunities:

Working in Bangalore - stay in Mysore  ?

It is a well known fact that Bangalore and Pune are the major two cities that provide the best jobs in terms of IT in India, breaking it down further, Bangalore is the IT hub of India and it is also bursting in terms of opportunities compared to other cities.

 If you consider the Weather and comfort, Banglore again grabs the stage.

However off late the city has become over crowded. The busy lives, uncontrollable traffic and a lot of other factors have made day to day living in Bangalore difficult.

 If you look at purely professional reasons, Bangalore is the best option. Most IT companies are headquartered here in Bangalore and job opportunities being in the head office definitely has its own advantages.

However If you want to consider the quality of life, to live a hassle free life, while landing an amazing job in Bangalore, then the city Mysore  seems like the best option for investment.


Schools and universities that make mysore stand out for its educational feature.

Mysore is also one of the first cities to start with a University for Music  in India.


Universities headquartered in Mysore
●    University of Mysore
●    JSS University
●    Karnataka State Open University
●    Karnataka state Music University


Place to invest in Mysore

Some of the major locations to invest in real estate in Mysore are mentioned below

●    Hunsur road
●    Vardaman Nagar Sathgalli
●    Vijayanagar
●    Bogadi
●    Bannur road
etc


Mysore has evolved a lot over a decade and the price rates of one of the most famous localities ( HansurRoad ) has been portrayed using a bar graph below.


 



Above graph shows you the Price range of Hunsur road  from 2009 to 2019 - one of the most famous localities in Mysore.


Disclaimer : The views expressed above are for informational purposes only. We do not guarantee the accuracy and completeness of the information and shall not be held responsible for any action taken based on the published information.