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Is Tourism A Contributor To Investment In Mysore?

Is Tourism A Contributor To Investment In Mysore?

Mysore real estate is picking up quite well after the first wave of COVID-19 passed India. 2021 gave new hopes to those planning for investment in Mysore.

The GoI provided relaxation on many rules regarding to the real estate sector in India. From lower interest rates (lowest in many decades) to more affordable properties, the government encouraged investment in Mysore and other parts of India. Those who had been saving up to invest in Mysore real estate saw this as a good opportunity to take the plunge.

Mysore is widely known as ‘The Heritage City’ based on the number of heritage buildings that it houses including palaces. Most buildings were formed in the British era and the buildings are still used as governmental offices. This fact makes the city beautiful with a blend of heritage and modern buildings.

 

Is tourism a contributor to investment in Mysore?

Tourism has always been a top contributor to the economy. Mysore hosts an annual 10-day festival Dasara during which the entire city is decked up with beautiful lights and on the main day of the festival, a procession takes place. This festival is very famous and attracts tourists from all over the world. Other than this, Mysore is a city that is located at the foothills of Chamundi Hills, a tourist spot in itself; the famous Chamundeshwari Temple is located atop the hill. Karanji lake is another tourist destination and includes a butterfly park and a bird sanctuary within. Mysore offers many trekking, hiking and camping spots for adventure-seekers. Most of these places are is open to visitors throughout the year.

As far as stay is concerned, there are luxury as well as budget hotels and most of these are listed on multiple travel websites. Investment in Mysore in terms of commercial real estate that includes service apartments, hotels, shopping malls and more are always in very high demand given the inflow of tourist throughout the year, especially during the Dasara festival season (usually October) and the holiday season (December and January).

Mysore real estate is also in high demand for residential real estate and the prices of properties is increasing rapidly, although still affordable. Investment in Mysore still provides vacant land options unlike most metro cities which are nearly exhausted in terms of vacant land. Mysore has a pleasant weather all around the year and change of seasons do not cause extreme climate changes. The city has multiple residential areas that include parks, luscious greenery, recreational centres, supermarkets, etc.

Mysore is a city that is urbanised and provides a good standard of living with access to quality education, medical services, etc. The city is well-connected to other important cities and even has a domestic airport; it also has a dedicated bus stand and railway station. A good public transportation system ensures easy commute within the city to locals and tourists alike. There are also private cab facilities just like bigger cities.

Mysore is a safe city and is often considered a good residential place for people of all ages – students, retired and working class. Mysore is also technologically advanced as bills for amenities like water and electricity can be paid online and options for recurring automated payments is also available. Investment in Mysore is a great future investment because tourism is a huge contributor that affects the prices of properties in Mysore real estate.

GSS Projects is a real estate consultant formed in 1995. With over 25 years of hands-on experience and successful completion of more than 30 projects, GSS Projects is the best consultant in Mysore for all your needs. Contact us for a consultation on investment in Mysore.

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