Owning Land in Mysore
The real estate sector in India, although sounds complicated, is turning into a simplified version of itself. This is why more people are considering a real estate investment in their lives.
Cities in India are segregated based on population, infrastructure, connectivity to bigger cities and others, standard of living, etc. Mysore is a Tier 2 city in south India which is famous for its heritage, culture and residential areas. It used to be retired peoples’ first choice for settling down but is no longer limited to that!
There are numerous centuries-old educational institutions providing a high-quality education, good medical facilities, tourist spots, shopping centres, etc. Lately, the city is showing signs of becoming the second-biggest employer in Karnataka after Bangalore (the IT hub of India), given the skyrocketing number of IT companies.
Owning land in Mysore in 2021 can be a realistic target! Make sure to make a list of things to remember and you will do just fine.
- Decide on what type of property you wish to buy – vacant land, agricultural land, land with property on it such as a house, flat, etc. This solely depends on your unique needs.
- Do a thorough research on the current market price before you decide to buy plots or sites in Mysore. Word-of-mouth is also a great way to consider real reviews while Owning land in Mysore in 2021!
- Decide whether you will be responsible for every procedure from the scratch (we do not recommend this!) or whether you will need help (we recommend this!) in searching for and buying the property of your choice based on your necessities.
- Research on not just market price but the developer that you are dealing with, if any. Check for how genuine they are before you shake hands.
- Ensure that the property is RERA-approved and MUDA-approved/DTCP-approved. The RERA Act protects the buyer in many ways, making owning land in Mysore in 2021 a safe bet.
- Cross-verify the approved property with the provided number on official websites of RERA or whichever authority is concerned. Remember that RERA is different for different states and Mysore real estate falls under RERA Karnataka (since 2017).
- There is an app called ‘Dishank’ provided by the Government of Karnataka for users to find out the type of land that the property of their interest is – agricultural land, government land (owned or leased by the government), rajakaluve (prone to storms), etc. This would greatly help in owning land in Mysore in 2021.
- Find out how you are going to manage finances. Even if you are using up all your savings, most people still need a home loan. Always opt to get a home loan from major banks – a reliable real estate consultant will make this process seamless for you.
- If you are buying a pre-owned property, get to know the previous owner well and surely check for how genuine they are. Although RERA curbs malpractices to certain extent, it cannot cover this part! Another way is to verify the property online with the RERA registration number on the official website of RERA.
- Before owning land in Mysore in 2021, check for the completion date (RERA forces builders to stick to this date) if you are paying advance and buying a property under construction.
The real estate sector is India is gaining popularity even with the NRIs who prefer settling down back here in India. Whether you want to buy plots or sites in Mysore to build your dream home or you just wish to buy land in Mysore in a sense of future investment, 2021 is the right time to make it happen! Owning land in Mysore in 2021 is a start to a secure future investment.
GSS Projects is a real estate consultant that has 25+ years of experience in the sector and is famous as the best and most reliable in Mysore. Contact us to get expert real estate services.