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Smart City Mission For Growth Of Real Estate In Mysore – 6 Reasons

Smart City Mission For Growth Of Real Estate In Mysore

We live in a digital era where nearly every country is getting urbanised while enabling most day-to-day tasks to be carried out digitally.

India is a country with many cities that are classified into Tier 1, Tier 2 and Tier 3 cities based on their population, standard of living, amenities, etc. Mysore is a Tier 2 city in the state of Karnataka considering the rapid growth of which real estate in Mysore is buzzing.

The real estate sector is one of the biggest global sectors and as is always facing challenges as the world is changing rapidly and the problems of the world are evolving too. The best way to take the first step towards solving modern problems that concern the real estate sector is to plan smart.

Smart City Mission For Growth Of Real Estate In Mysore – 6 Reasons

  1. The smart city mission aims to offer adequate water supply and electricity throughout the city, the shortage of which factors is a common problem across the country, especially in rural areas, but also in urban areas. Other than that, the mission also aims at improved IT connectivity, digitalization, sustainability (for example, support for electric vehicles) on every level, and much more.
  2. Mysore is not just a popular tourist destination, real estate in Mysore is also always at its peak, given that the city is a Tier 2 city that is on the verge on becoming a Tier 1 city very soon. The properties in Mysore are still affordable and more importantly, vacant land is also still available for real estate investment unlike most bigger cities. The pleasant weather, increasing job opportunities and the decent standard of living at an affordable budget for most people makes the city a famous one for property investment. Turning Mysore into a smart city is the only positive stance that is yet to be fulfilled in this promising city.
  3. Mysore is a city that has scopes for development of vacant land, existing buildings and also the buildings that are under development. Thus, smart city mission is the perfect bridge that offers everything necessary in order to connect the developing city Mysore into a full-fledged smart city. Real estate in Mysore can now have the right foundation especially for upcoming residential projects in Mysore.
  4. As it is well-known, the value of any property changes with time – while buildings may depreciate due to wear and tear (and still be profitable due to the nature of the real estate sector), vacant land will always increase in value as there is no wear-and-tear even after many years. Any property that exists in a smart city will increase in value even more than that which is part of a city that is not yet a smart city.
  5. Real estate in Mysore comes under RERA Karnataka, meaning that it offers buyer protection to a great extent abiding by all laws that are defined by RERA. Indirectly, this also gives Mysore a good foundation to be further turned into a smart city.
  6. Mysore is already seeing a growing number of industries including the IT, making it a major contributor to India’s economy. Real estate in Mysore, whether residential or commercial, is being taken seriously by realtors as well as potential investors as the future of Mysore looks bright. It is one of the closest cities that can easily be turned into a smart city with fewer changes than many other cities.

GSS Projects is a real estate consultant that was formed in 1995 and has grown to great heights over the decades always staying close to real estate in Mysore; the consultant has proudly served clients from all over the world. Contact us to let us help you with real estate investment.

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