Mysore Property Value

Q: I've read in a lot of news articles that Mysore is fast developing and real estate value is going up. Is there potential in investing here?

Krishna gowda, Mysore

10th July 2014

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Replies (4)

Actually last year was pretty bad for Mysore real estate wise. There were a lot of developmental projects to help strenghten the city but to no avail. These projects took place at a very slow pace and did little or nothing to help Mysore's current issues. Mysore is actually suffering from shortage of space. There are a lot of migrants here who prefer 2, 3 bhks but finding apartments in Mysore, according to me is not easy. Sure, property prices are cheap but quality also should be a factor. I think IT employees prefer lavish residential apartments and gated communities which there aren't many of in Mysore. And the facilities are all basic. Nothing extravagent. There should be more creativity involved in constructing houses and I find that lacking in Mysore.

Vijay Karthik, Mysore

11th July 2014

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See the thing is that if investing in Mysore is a good thing then where are the results? That's precisely what's going through the minds of Hyatt and Sheraton developers who seemed interested to acquire commercial properties in Mysore not too long ago. But why have these plans been only long term and nothing has been done to act on them yet? Because they are still unsure of the market here and they will stand to lose a lot if the real estate market in Mysore takes a dip. It is for the same reason that IT sectors aren't willing to invest here. Because they want to actually see the growth and not just the potential. Also, these various infrastructure projects sprucing up all over the country has taken a toll on the resources such that they are either getting used up or exploited. Bottom line : There's never enough to go around! If Mysore really wants to attract the industrial to add to the already existing educational sector and infrastructure then planned development should take place!

H. P. Ramesh, Mysore

11th July 2014

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Actually it was only recently that Mysore really started doing well in real estate. Thing was that apartment prices and property prices were increasing in all of the Tier 1 cities like Bombay, Delhi, Chennai and Hyderabad that people having moderate income and other investors had to invest in Tier 2 cities like Mysore. Mysore has good affordable rates and infrastructure development has improved a lot in the past few years which attracts buyers. So property prices went up!

Savitri Hiremath, Mysore

11th July 2014

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Yes and this price rise is what gave people faith in Mysore to invest here in the first place! Now there is growth of many IT companies and very good colleges in Karnataka in Mysore, so this has attracted people from all over the region to shift to Mysore. Real estate is especially good in areas around Eliwala and JP nagar because a lot of developmental projects take place here. And now with the new plans of making the Bangalore - Mysore highway 8 lanes, with flyover, this will ease the traffic congestion and bottlenecks. This will definitely draw more people to invest here.

Raveena Javali, Mysore

11th July 2014

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