Real estate investment will always be in trend in a developing country like India. The country is home to many Tier-1 metro cities while also being home to Tier-2 and Tier-3 cities that are predicted to develop at a high rate.
India being a tropical land proves to be best suited for agriculture, commercial as well as residential purposes. Despite multiple dedicated plots and sites used for agriculture throughout the country, nearly all parts of the country are suitable for the purpose. India as a country ranks as one of the best in the world for real estate investment.
Tier-1 cities are well-developed in India but there are not many plots or sites available to invest in, thanks to urban migration for better employment opportunities. Being fast-paced and full of companies, they are probably not the best choice for permanent residence. The remaining options are Tier-2 and Tier-3 cities. Real estate developers have accordingly been shifting their interest to cities other than Tier-1 cities.
Now is one of the best times to invest in real estate in a Tier-2 city in India. One reason being that prices are still affordable, another reason being that Tier-2 cities have a high scope of development in terms of lifestyle, job opportunities, etc. The standard of living in such cities is not as high as Tier-1 cities for well-known reasons but the cost of living is more affordable. There are many IT companies on the rise in Tier-2 cities giving room for more employment opportunities while been less populated than densely populated metro cities.
When it comes to commercial properties, investing in Mysore – a Tier-2 city – is a smart move. Whether you want to buy land in Mysore for, future investment, building layouts or reselling purpose, it will be worth your investment. Buy sites in Mysore to be able to repurpose the land anytime as per your need.
Mysore has a deep-rooted history and is rich in heritage, rightly termed as ‘The Heritage City’. The city is a tourist spot and is globally famous for its rich culture and heritage, being a host to many heritage buildings that are well-maintained.
It is normal to feel anxious before investing in land purchase; it would help you a great deal if you opt for a reliable and renowned real estate company that can guide you through the entire process.
With newer regulations like the RERA Act, it is safer to invest in India for land purchase. RERA rules are different for different states, so you can ensure following the regulations of the state that concerns your real estate investment. The act protects the buyer and helps the developer maintain a level of transparency to gain the former’s trust.
Mysore has a vast urban area that has the highest possibility of being developed into rural areas, given the demand for real estate growth in the city. This demand in turn turns into opportunity for those looking for real estate investment. The main point to keep in mind before you buy land in Mysore for any purpose is to ensure that basic amenities are either readily available or soon-to-be available. This includes water, electricity, connecting roads and a good public transport facility to name a few.
Although Tier-3 cities are also a good option for real estate, it is to be noted that they will take years longer to develop to match the level of Tier-2 cities. Investing in Tier-3 cities could be considered by those who are not planning to use it for commercial or residential purposes – or for anything, really – anytime soon.