Off late, Mysore has been a hotspot for real estate investments owing to the significant growth trend in the real estate market prices. 5 years ago, investment in real estate was a distant dream for many and preferred by only a few due to the risks that were involved. Another thing that mattered the most was a long-term commitment that people were unwilling to give for returns that were mostly uncertain.
Fast forwarding to the present, people have become aware of the market risks and the returns that came along with real estate investments, despite the high down payment that realty demands. The demand for real estate in Mysore has peaked to such an extent that residential sites for sale in Mysore are selling like hotcakes.
Let us talk numbers
To substantiate the above argument, let us provide you with some mind-bending numbers and analytics. From April 2016 to 2018, Mysore real estate market demand has grown by a staggering 187%. Today, the current rate per square foot for some residential sites in Mysore is nearing the ₹15000 mark and the average price per square foot is somewhere around ₹8990, according to www.makaan.com.
It all started in March of 2003 when the Government of India allowed 100% foreign direct investments and Indian real estate sector has never looked back, not even once, since then. Today the demand has risen so much that the availability of residential sites in Mysore for sale has become scarce with the prices skyrocketing with each passing day.
In no means is this discouragement, it just signifies the growth and the future scope for monetary investments in Mysore real estate. If you are just starting out your investment career in real estate, Mysore is a very good option for you to begin with smaller and risk-free investments. In addition to that, there are a few points that a novice investor should remember before investing, check them out.
Plan your investment
Chalk out what kind of investment works out for you. Most residential sites for sale in Mysore are in the outskirts so it would be wise of you to dump your money into a fixed asset and wait for the right time to sell it off. You could also buy a built property inside the city and rent it out, which ensures a constant rental income.
Hire a real estate advisor
Novice investors in real estate sector often are misled and misguided by offers and schemes. It is better to hire a real estate agent who understands your plan and requirements and shows you residential sites in Mysore that are effective and work for you. In addition to that, their expanse of networking amongst their peers helps you find the right choice.
You should always test the waters before diving right into it because you never know what lies underneath. In the same manner, you should know what kind of property you want to invest in and what its specifics and details are. Without a prerequisite, your investment could easily be nullified and you could end up spending money on something that is not worth more than a piece of junk, beware!
Do not let anybody know that you are a novice investor as the chances of them trying to take advantage of you are very high. Always stay updated on the latest trends in the market and keep researching about the city and property that you would most likely dump your money into. Take help if needed and tread carefully because one wrong move could land you in a lot of trouble. You could also consult GSS Projects, a real estate company with more than two decades of experience in this field.