It is an innate characteristic behavior of human beings to live and lead a life in residential settlements. It is because it provides them with shelter and a place to rest and recuperate. Since ages, people have fought each other for real estate. In a country like India with a population of more than a billion, everybody dreams of owning a house for themselves and their family. While some have indulged themselves in real estate business for investment purposes, a few others have bought properties for living purposes.
Despite the presence of a multitude of options for the same across the nation, Mysore has become a hotspot for real estate buying and selling. More importantly, residential properties for sale in Mysore are in high demand in the last decade. This is due to the increasing growth of companies in and around the city.
Given the fact that Mysore is a tier-2 city, it has displayed an exponential growth spurt in infrastructure development in the last 10 years. Hence, it is no wonder that residential properties in Mysore are selling like hotcakes. However, there are reasons for that.
First, this city is considered a haven for leading a retired life. Second, the employment opportunities in the city have grown by multiple folds. It is the consequence of the inception of innumerable corporate companies and start-ups. This has created a flurry in the real estate market of late. In the last two years, the growth trend for sites and plots in Mysore has increased by 187%, according to the website www.makaan.com. Investors from across the state of Karnataka who were vying for a piece of land in Bangalore, are now looking at investment options in Mysore.
This is because the market pricing of Mysore real estate is still low compared to Bangalore. Also, the availability of residential properties in Mysore is quite large at the moment. The average price for a square foot of land in Mysore is around ₹10000. Contrarily, the price for the same in Bangalore is hovering somewhere around ₹81000. Indeed, Mysore is proving to be an affordable and smart investment option when it comes to residential properties.
These mind-blowing numbers do not mean that one should act prematurely and rush to buy residential properties in Mysore. It is advisable to do the homework and study the market before taking a major decision.
To conclude, it seems that investing in residential properties in Mysore can prove to be worthwhile nonetheless.