Financial investment has been a lifesaver for humans in all walks of life. It is mostly true when it comes to investments in real estate but happens only when the investment decisions are made right. Agreed that Bangalore is a tier-1 city and offers huge returns. But a major drawback in this city is the huge investment sum.
For beginners, Bangalore might seem overpriced and saturated. Such people invariably end up making investments in other portfolios but there is a brighter side to it. If you are looking to buy sites or plots for investment, sites for sale in Mysore are a better option.
This is because Mysore is a tier-2 city in Karnataka and just 150kms far from the state’s capital. Although you would be sacrificing on investing in a tier-1 city, the opportunities lie in this city as it is up and coming with a growing number of software and manufacturing industries.
Price Trends in Mysore
Let us explain why. Take for example the growing trend of both Bangalore and Mysore. According to www.makaan.com, the average price per square foot of area in Bangalore amounts to ₹52896 from the period of April 2016 to April 2018. In other words, the growth trend translates to a whopping 207% increase. From the same website, we can see that the average price per square foot in Mysore is around ₹8995 for the same time period. The estimated growth trend in that specified period translates to a staggering 187% increase in just 2 years.
Seemingly, the growth trend figure for plots and sites in Mysore is closer to that of Bangalore’s. However, the price difference between them per square foot is gargantuan. This only means that a site in Mysore has still not picked up the same demand as its counterpart in Bangalore. A major advantage of buying or investing in sites in Mysore is the fact that it generates a good return. For that to happen, proper planning is essential and plays a very important role in determining the return on investment.
Investment Opportunities in Mysore
If you are looking to buy and sell sites in Mysore, the returns are generally good but generally require a long-term commitment. In real estate, it is a given fact that holding on to a site for longer duration generates a good return. It also acts as financial security in the long run. But, the major disadvantage here is the problem of liquidity. You might have to wait patiently until the market price goes up in order to consider reselling.
If you are investing in sites in Mysore for construction and rental purposes, the initial cost may go up due to construction. But it ensures a constant revenue generation in the form of rent. Furthermore, a newly constructed building or house begets a high rental income and may also serve as a possible future place of residence for you. However, the disadvantage here is finding tenants in a stipulated time. It can be challenging and sometimes be detrimental in worst-case scenarios.
With improved employment opportunities in the city, the future for the real estate market in Mysore seems bright. This is a golden opportunity for investors looking to invest their hard-earned money in a property. It won’t be long until people feel the heat of real estate saturation in Bangalore. If and when that happens, people start turning their heads towards Mysore for investment purposes. That is the time when prices will surely hike and investors start getting their returns.
It is advisable to not let go of this once in a lifetime opportunity and seize it before others do. Presently, there are plenty of sites in Mysore for sale and if you are looking to invest, GSS Projects will help you find a suitable option for you.