The second home market, which was on a rise before the slump in the market, has gained momentum once again amongst buyers in Bangalore. This has alternatively pushed real estate development in neighbouring Mysore.
Area like Elivala, Srirangapatna and Hunsur on the Mysore-Coorg and the Mysore-Bangalore Highways where villas are available in affordable range of about Rs 2,000-3,000 per sq ft
Mainly buyers are focusing on areas such as Koodanahalli and Nanjangud. In these areas Villas are available in the price range of Rs 3,000-4,000 per sq ft.
The reason why Mysore is becoming a preferred investment destination for Bangloreans is the cost-effective options compared to those in the IT city. While property here is relatively low in price, the medium and long-term returns will be healthy
After completion of the Bangalore-Mysore Infrastructure Corridor project and the up-gradation of the airport the demand for land for residential properties in Mysore is expected to grow exponentially.