Infrastructure and connectivity driving real estate along Mysore Road
The real estate market in Bangalore has been witnessed stability and growth in comparison to other regions in the country such as Delhi-NCR and MMR. The stretch between Nayandanahalli to NICE Ring Road Junction, popularly known as Mysore Road, has become a real estate hot spot in the last couple of years. Connectivity and growth of infrastructure are the key factors driving real estate growth in localities in and around Mysore Road.
Key Physical Infrastructure Projects
Mysore Road has a lot of things going for it right now for the potential buyers. According to CommonFloor data, the following infrastructure projects are expected to provide the area major connectivity and further augment real estate growth.
- Metro Phase I and II are giving a major impetus to real estate growth in the region. Reach 2 of the Metro will bring Kengeri closer to the city and open up several economical residential options for people.
- The extension of the NICE Road will ultimately connect with Mysore.
- The proposed elevated expressway will ensure connectivity unlike ever before.
- The proposed Cauvery Water Supply Phase 3 project will consequently ensure a great water supply for the region.
Key Social Infrastructure Projects
Mysore Road has a lot to offer as far as social infrastructure is concerned. The stretch boasts of good social infrastructure developments and is a self-sustaining region with renowned hospitals, schools and entertainment facilities.
Educational Institutions: Some of the key schools in the area include St Joseph Boys High School, Orchid’s International School, BM Valley School, Manipal Tattva School and Hillrock National Public School.
Medical Institutions: The area is home to well-known hospitals like Mysore Hi-Tech Hospital, Sri Maruti Nursing Home, Joshi Hospital and Balaji Hospital.
Retail & Commercial Spaces: Mysore Road has several retail hubs such as Gopalan Legacy Mall, Total Hypermarket and Bangalore Central.
Major Challenges
With growth and development come challenges and Mysore Road is also plagued by some civic and developmental issues. These include:
- Simultaneous road widening, flyover construction and Metro construction have resulted in several roads being congested and traffic getting clogged.
- Garbage disposal is also a perennial problem in the area.
- What a potential investor must keep in mind is that the proposed infrastructural development can take years to complete – development of the NICE road connecting Bangalore and Mysore has been mired in delays for years now.
- The Metro too has overshot its time frame and may take a while. Most of the developers in this area have gotten in with the understanding that overall infrastructural development will take approximately 4-5 years to be in place and they are in for the long haul.
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