Emergence of Mysore Real Estate
India is home to cities belonging to various economic classes and has a lot of unoccupied urban as well as rural areas. Real estate is a big buzz in the country and this is because many real estate investors are even looking to resell their properties (land, houses, etc.).
India is a developing country and one of the best places in the world to invest in real estate. India currently ranks 34 on JLL and LaSalle’s Global Real Estate Transparency Index. This index specifies the extent to which a country keeps its real estate business transparent.
The impact of COVID-19 on Mysore Real Estate
COVID-19 has hit many sectors hard and the real estate sector is also one amongst these sectors. With the advent of the RERA Act in 2017 in Karnataka, real estate business took an unexpected turn and started slowing down. This is because the rules took time to be implemented by developers who had already started developing layouts or other properties before the rules came into the picture.
The real estate sector slowly picked up after the event and is now nearly back to its normal business. The advantage is that, although the sector has been affected, the price for investors who wish to buy land in Mysore has clearly become more affordable. Real estate investment trusts (REITs) are another option to invest in India without having to invest a lot of money.
Mysore is a Tier-2 city in India and a real estate hotspot in Karnataka, India. The city is a hub of IT companies, an emerging IT hotspot closely in line with Bangalore, the IT hub of India. This has opened up many employment opportunities in Mysore for jobseekers. There are numerous plots for sale in Mysore rural and urban areas. Future investment is assured when you invest in Mysore, the Heritage City of India.
Bangalore is undoubtedly the most famous city in Karnataka and is well-known across the world, given its exposure being a Tier-1 metro city in India. The population is more and given the vast number of start-ups as well as world-renowned IT companies, the traffic is always at peak – this has increased the pollution levels in the city.
As compared to Bangalore and other similar cities across India, Mysore has manageable traffic and lower pollution levels. This makes way for easier navigation across the city. There are many educational institutions, tourist spots and recreational centers in the city that makes it a great place to invest in. This also assures long-term benefits when you buy land in Mysore. You get multiple options as compared to any other IT city in the country while the plots for sale in Mysore are still affordable. This makes Mysore real estate a great option for those who plan to invest in Mysore.
The vast, mesmerizing history of Mysore
There are many stories emerging from Mysore’s history and most of the places included in these historical stories are still well-maintained and can be visited! The palace of Mysore better known as ‘Mysuru Palace’ is a major tourist spot. Unlike a few years ago, there are now many tall buildings in Mysore including apartments. There are many new layouts developed in the recent past years, meaning that there are better options to buy land in Mysore. Most areas in Mysore have basic provisions including the newer layouts, making them perfect to invest in for immediate use. From apartments to luxurious hotels, from malls to multiplexes, and more, Mysore real estate has emerged to great heights and the future of real estate in Mysore looks promising.
GSS Projects is a real estate consultant formed in 1995. With over 25 years of hands-on experience and successful completion of more than 30 projects, GSS Projects is the best consultant in Mysore for all your needs. Contact us for a consultation.