Real Estate Development Projects
Metro cities in India are heavily populated and have high pollution levels, thanks to the buzzing traffic; commutation times are also high due to the same reason.
Mysore has been ranked the cleanest city in its category in India multiple times. Since it is a small city with a population of just around 1.2 million, it is not as popular when it comes to real estate investment as bigger cities. Although, it is world-renowned in terms of culture and heritage, rightly termed as the ‘Heritage City’ and the ‘City Of Palaces’.
Mysore spreads across a larger area – inclusive of both urban and rural – as compared to many other smaller cities in the country. Unlike bigger cities, there is still vacant land in Mysore, making it ideal for someone to invest in Mysore. Rules and regulations set by the government are thoroughly followed, making Mysore real estate ideal to invest in. The latest real estate law is based on the RERA Act based on which different states follow a different set of rules. As Mysore is a part of the Karnataka state in south India, RERA Karnataka defines the rules that need to be followed when you buy plots or sites in Mysore, or even buildings.
In short, RERA ensures that any buyer of property in Mysore is protected as far as the purchase is concerned. For this reason, people in India are slowly becoming more aware of the importance of real estate and want to buy plots or sites in Mysore. There are several reasons why Mysore real estate needs more recognition.
Top 10 reasons why Mysore needs more real estate development projects:
- Mysore is a Tier-2 city yet offers a good standard of living and basic amenities at a much lower cost. This also means that real estate development projects can be completed within a reasonable budget.
- Mysore is serene and thus considered a great place to settle in after retirement. It is popular among the older generation of people.
- Mysore is home to many IT companies including start-ups and world-famous ones providing job opportunities; many more companies are on the rise. The city is therefore also a great place for the youth.
- Mysore has educational institutions including universities that have been around for centuries and are known to provide high-quality education. It is considered a matter of pride to study in and graduate from such institutions, making the city a top educational choice for students and their guardians alike.
- Mysore real estate has a bright future given that it is a developing city. Mysore is developing faster than any other small city in India, meaning that in the future, there will be more demand for properties in Mysore. Both Indians and NRIs will find this as a good investment option.
- RERA-approved properties provide strong buyer-protection policies and ensure that there is no threat of fraud from real estate developers. RERA Karnataka was implemented in 2017.
- Mysore has several activities for recreation (hiking, trekking, camping, etc.) as well as rejuvenation (yoga, music, etc.) for people of all ages and more importantly, people who are interested in these activities. This makes it a perfect weekend getaway spot for tourists and locals alike.
- Being a tourist hub, the city has multiple tourist spots such as hills, palaces, etc. and many heritage buildings that are still in use for government offices. There are also many places within a few kilometers from Mysore that can be visited for sight-seeing, such as natural sanctuaries.
- People from around the world come to witness the Mysore Dasara Festival which is an annual event and a great exhibition of culture through participants from all over India! This tradition is spectacular and has been carried on for centuries – the entire city is decked up with lights during the festive season.
- The city even has renowned theatres and museums for artists and art lovers.