Do you have mixed feelings about investing in properties in Mysore? Regardless of your thinking swaying towards the positive or the negative, we will tell you why investing in Mysore real estate is a great decision in 2021.
Why is Mysore famous and what qualities make it ideal for real estate investment?
- Mysore is called ‘The Heritage City’ rightfully based on the number of heritage buildings that it houses, including palaces. Living in such a city feels royal in itself! Investing in properties in Mysore gives you many options on the type of property you want – whether you want to buy land in Mysore or residential or commercial buildings.
- Mysore has a pleasant weather throughout the year so extreme climate is something those living in Mysore never have to worry about. It is located in the south of India and is one of the most renowned cities in Karnataka.
- Mysore real estate is no longer a long, tedious process without predicting when a deal can close. Laws like RERA have made all the difference by protecting the buyer and mandating developers or builders to keep all transactions of every project transparent. Down payment for investing in properties in Mysore has been reduced and developers cannot demand more than 10% of the total project cost. Developers are also required to register every property under RERA.
- Digital platform has not only enabled better communication on personal level but also on business level. NRIs can easily think about investing in properties in Mysore with basic documents without having to physically be present for the purchase; they can also get RBI-approved home loans just like any other citizen of India. The genuineness of a RERA-registered property can be verified on the official website of RERA, RERA Karnataka. Even promoters are forbidden from any kind of mention or promotion of the property before it is registered under RERA.
- Investing in properties in Mysore gives the investor complete value for money as the carpet area, according to RERA, is now calculated as the entire area and not just the usable parts. Of a property.
- You can buy land in Mysore while planning on investing in properties in Mysore, being assured that it could serve as a great future investment. Vacant land does not exhibit wear-and-tear over time unlike buildings like houses. In fact, value of vacant land is ever-increasing. Given that land needs little-to-no maintenance, it is a great choice for even NRIs.
- 2021 seems to be the best time for investing in properties in Mysore as Mysore real estate is growing quickly. The real estate sector in itself is recovering fine post the COVID-19 pandemic. Properties in Mysore are still affordable as compare to many bigger cities; they city offer a good standard of living as well.
- Mysore offers great employment opportunities in many sectors including the IT sector. The city is one of the best cities that has a vast rural as well as urban area and Mysore real estate investors have a wide range of options which choosing an area where they plan on investing in properties in Mysore.
Before you buy land in Mysore, you do not have to think much as you have the flexibility when it comes to using the property. You can either choose to construct a house, farm, etc. or leave it as it is to resell at a better price sometime in the future.
If you want to consult a genuine real estate consultant in Mysore, your search ends at GSS Projects! The company has been around since 1995 and has made a great progress in the field of real estate. Contact us for help from an expert team, rest assured that you will get the best of services.