Why are plotted developments in Mysuru selling so fast?
As the third-largest city in Karnataka, Mysore is slated for a promising future in infrastructure development and real estate investment. This versatile city is a thriving business hub owing to the headquarters of IT giants and property launches by large developers. The peaceful small-town quality of the city and its proximity to Bengaluru are why property investment in Mysore is gaining momentum. Brigade Oak Tree Place, a plotted development by Brigade Group, was created with an understanding of Mysore's bright future.
Mysore is on the path towards development.
Mysore was one of the first cities to undertake planned development in Asia. Today, Mysore Urban Development Authority (MUDA) has partnered with the private sector to improve urban and transport infrastructure. The proposed Bangalore-Mysore Infrastructure Corridor will significantly improve connectivity and encourage more commercial and residential developments in Mysore.
70% of the plots and large parcels of land for sale in Mysore are residential properties. Many real estate investors looking to buy land in Mysore prefer plotted developments due to low capital investment, faster delivery, minimum risk and better appreciation.
Here’s why investing in plotted developments is an excellent idea if you are looking to buy property in Mysore:
Proximity to Bangalore
The city’s proximity to Bangalore, the IT hub of India, has led to several IT companies setting up shop here. If you are planning for a real estate investment in Mysore, you get to live in the next prominent employment hot spot in Karnataka after Bangalore. As the city’s real estate is still in the nascent stage, there are plenty of residential plots in Mysore to suit your budgetary requirements.
Another big perk is the upcoming 10-lane Bangalore-Mysore highway which will reduce your travel time between the two cities to just 90 minutes! Brigade Oak Tree Place offers a park, themed gardens and open spaces with easy access to the Bangalore-Mysore highway.
The domestic airport in Mysore has greatly improved the city’s connectivity to other metros. This makes the city more favourable for new residential sites in Mysore The 10-lane Bangalore-Mysore expressway built under the ‘Bharatmala Pariyojana Phase I’ is envisioned as an economic corridor connecting the city to the state capital.
Furthermore, the proposed Mysore-Bangalore-Chennai rail line is a high-speed corridor you can take to reach the city in just 45 minutes!
The overall infrastructural developments in Mysore have greatly boosted the real estate sector here. The rise of IT and industrial companies, educational institutions and tourism in the city has also led to the growth in healthcare services.
Places like Vijayanagar, Gokulam, JP Nagar, Hebbal or Jayalakshmi Puram are turning into some of the best residential areas in Mysore. The city’s serene atmosphere, rich heritage, ample green spaces and pleasant weather are encouraging factors if you wish to buy land in Mysore.
As a Tier 2 city with an impressive growth rate and expansion, Mysore has piqued the interest of many investors looking to buy plots or sites in Mysore. Commercial real estate prices are expected to go up as many other services apart from IT are being outsourced to Mysore. So if you are looking to invest in plotted developments, ensure that the property is a legal MUDA site and is well-documented.
A number of new projects are in the pipeline for Mysore city. New sports grounds are planned in every gram panchayat under the MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) scheme, including a stadium on 2 acres of land in Kumbarkoppal, north Mysore. At the Vijayanagar 2nd Stage, an international standard skating rink worth Rs 3.5 crore is expected to come up. The rates of plots in Mysore near these new developments are bound to increase.
With upcoming IT developments and planned infrastructure projects, the real estate sector in Mysore is gradually following Bangalore’s growth pattern. Moreover, with tourism picking up, plotted developments are coveted by investors.
Brigade Oak Tree Place, Brigade’s first plotted development in Mysore, should be top of your list if you plan to buy plots in Mysore as it offers many amenities for the whole family and a much-needed respite away from the hustle and bustle of city life.