Mysore is a city that is rich in heritage and is home to several historical monuments including palaces that were built centuries ago, but they still stand strong.
As for many other vintage buildings, they are repurposed as various government offices and are functioning well. The Tier-2 city is a real estate hot spot in Karnataka and plots in Mysore are in great demand.
Mysore offers a homely feel while also offering ample job opportunities and a decent standard of living for its residents as compared to bigger cities that are very expensive. While real estate in Mysore offers properties at a reasonable price, these properties also serve value for your investment. At the same time, expensive properties in bigger cities, despite being low on space, cost higher only due to their location.
Mysore has numerous areas that are a good fit for different purposes. For example, some areas are perfect residential areas surrounded by lush greenery while some areas are close to all major spots in the city including transportation terminals, while industrial areas are perfect to invest in commercial real estate for industrial purposes.
While Mysore has always been a top pick for residential real estate, commercial plots in Mysore are now becoming more popular than ever. One of the key reasons for this is the rapid pace at which Mysore is growing in terms of infrastructure, IT, technology, and more. There are also several industries and IT companies that are coming up in the city.
Before thinking of a real estate investment, remember that prices of properties in residential real estate and commercial real estate do not rise or lower simultaneously. Thus, waiting for the right time to invest in industrial property in particular will be more financially befitting. Industrial plots are also more expensive than residential plots given any time of the year.
From location to type of property, various factors are generally considered before any real estate investment in India. While vacant land only increases in value over time, buildings are prone to inevitable wear and tear, with or without consistent usage.
Considering property resale, any type of property would fetch a lot more than the purchased price but buildings have more deterioration while land has none. Therefore, plots in Mysore are a great future investment, whether for utilization right away, in the future, or for resale; even a few months can increase a land’s value, assuring a good ROI.
Amenities for easy transportation such as wide roads and connectivity to main roads and highways are important for industrial plots. Plots that are located in popular areas such as around the center of the relevant city will be easily accessible while also concluding with easy access to public transport. Make sure that you find these amenities before you invest in industrial plots in Mysore. There must also be ample space for parking heavy vehicles and also special facilities for moving goods in and out of the property, whether building, shed, or any other arrangement on the property.
Industrial plots are meant for facilities such as manufacturing units, research and development centers, logistics, etc., meaning that water and electricity are major amenities without which industrial plots in Mysore will be almost entirely useless for the required purpose.
Always check for a steady water supply and electricity supply and backup in order to avoid any shortage once the facility starts operating.
GSS Projects is a real estate consultant that was formed in 1995 and is the best to guide the best investment in plots in Mysore. The company has gained clients for a lifetime ever since its formation and has grown to great heights. Contact us to help you with any type of real estate investment.