need update on Mysore real estate developments

Q: Hey guys. I want to buy property in Mysore. Can anyone tell me about the current real estate market of Mysore? How is the residential market doing and has there been price appreciation? Any relevant information would help me a lot. Thankyou.

navya shree, Mysore

15th November 2014

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Replies (11)

Now even NRI's in Karnataka are super interested to invest in Mysore. Currently, about 30 residential projects are being developed. even commercial properties are upcomng in Mysore. a signifcant residential project is Central Park at Ideal Jawa by Shalom Voyagers, where there are many advanced facilities. EVen Brigade group and Damden properties are coming up with some interesting residential projects in mysore now.

H. P. Ramesh, Mysore

20th November 2014

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See if you want property that is afforable and within a budget then I suggest you go for investing in Vijayanagar I, II and III, where rates are between Rs 1000 to 1600 per square feet. Prices in Siddhartha Nagar is Rs 2200 per square feet, while in Gokulam I and Jayalakshmi Puram, prices are now between Rs 3000 to 2600 per square feet.

Reshma Nayak, Mysore

19th November 2014

Comment

Ever since this price appreciation and IT boom took place in Mysore, so much construction activities have been happening. the municipal corporation has given 100 licences to developers to develop their properties in mysore. also there has been large scale development on the Outer Ring Road, periheral and arterial roads of the city.

Nikhil Ram, Mysore

18th November 2014

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ORR project is one factor that has led to price appreciation in Mysore. I remember when a 240 yard plot in Vijayanagar IV used to cost 1.5 lakhs before the orr project. But now it costs 5 lakhs. even the cost of agricultural property along the orr has increased ten-fold since 2005.

Vijay Karthik, Mysore

18th November 2014

Comment

Hey if you want to invest in Mysore, I suggest you do so in areas such as Vijayanagar, Kuvempu Nagar, Jayalakshmipuram, Nivedata Nagar and Dattagalli. They have faced maximum price appreciation in the past. Values here range from 2000 to 2500 per square feet. 3 years ago, this used to cost only Rs 200 to 400 per sq feet.

Chitrabanu Ashok, Mysore

17th November 2014

Comment

Yes but in the central business district, for rental properties, prices are higher. Capital values are at least Rs 4500 per sq feet and monthly square feet values range between Rs 46-51 per sq ft. But on the whole, definitely quite affordable if you compare with other cities.

Uma Maheshwari, Mysore

17th November 2014

Comment

I always thought that the property prices in Mysore were very affordable. Even today, nothing has changed. In fact, the maximum price per square feet is between 3000 to 3500. Now the present rates stand at Rs 2000 to 3000 / sq feet in prime residential areas. In the suburbs this price is Rs 1400 to 1900 per sq feet and villas in Koodanahalli and Nanjangud cost about Rs 3000/ sq feet.

Hema Kumar, Mysore

17th November 2014

Comment

Recently mysore did experience some inflationary pressures. that's why the government had to intervene and through its regulation, real estate transactions has fallen by 20 to 30%. Even though many popular and important realty players from Bangalore are interested in Mysore, it is actually the local players who seem to be making an impact on Mysore's realty market.

Akshat Rai, Mysore

16th November 2014

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many famous companies are now entering the real estate scanrio of Mysore. This is an indication to how much the city has grown and developed over the years. for example Prozone, Premier Properties and Mittal Builders have already set up residential projects in Mysore. Prozone, Premier Properties and Mittal Builders are constructing spaces for malls which will be ready in the next 2 years. Sahara group has also invested in 2 plots of land here.

Rama Gomes, Mysore

16th November 2014

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Initally, when IT companies started investing in Mysore, the industrial property rates were Rs 15 lakh per acre and in Bangalore this was Rs 60 lakh per acre. Karnataka Industrial Area Development Boardhas started to acquire land in mysore for development, especially in the north west sections of the city. L and T has acquired 40 acres of land in Hebbal - Hootagalli to develop a software centre.

Arun Rajan, Mysore

15th November 2014

Comment

Mysore has recently faced very good real estate boom. Mysore has always had affordable property prices as compared to bangalore. many people are purchasing property in mysore, especially for second home usage. so yes, investing here would be wise. now a lot of development and infrastructure projects are also being undertaken here like improvements on bangalore - mysore road.

Savitri Hiremath, Mysore

15th November 2014

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