Q: Me and my Dad, we are planning to invest in Mysore Road. I am doing some market research and I want people who are staying in that locality or have invested please share your review and feedback as well. Thanks in Advance.
The locality is known for mid segment residential projects so what is the average selling price going on in this locality and how much will be the average rental for a 2 bhk.
Mysore Road is seeing rapid growth in the residential sector. The average selling price going on in this area is Rs 4300 and the average rent of a 2bhk in this locality will be around Rs 12,000 approx.
Mysore Road covers massive ground – going from the outskirts of Chamrajpet right up to Nayanadanahalli and further down towards Kengeri. Following are some of the key micro markets along this stretch.
Rajarajeshwarinagar: A major benefit of the area is that it is a well-planned zone and also boasts of 60 ft- wide roads.
Banashankari 5th & 6th Stage: These are other leading markets along Mysore Road where there is growing demand for housing over the last 3 to 4 years. They have witnessed decent appreciation of property values since 2012.
Kengeri: A well-developed satellite town, it will command great connectivity to South Bangalore once the Metro Phase II is complete. The setting up of the Traffic Transit Management Centre (TTMC) of the Bangalore Metropolitan Transport Corporation will bode well for the area.
Mysore Road has a lot of things going for it right now for the potential buyers. Infrastructure projects that are expected to provide the area major connectivity and further augment real estate growth are as follows:
1) The proposed elevated expressway will ensure connectivity unlike ever before.
2) The proposed Cauvery Water Supply Phase 3 project will consequently ensure a great water supply for the region.
3) 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.
4) The extension of the NICE Road will ultimately connect with Mysore.
The stretch between Nayandanahalli to NICE Ring Road Junction, popularly referred as Mysore Road, has become a real estate hotspot in Bangalore.
The reason why this locality has become one of the hotspot is because of the development of infrastructure and connectivity. NICE corridor, proximity to outer Ring Road and Metro Phase I and II are giving a major boost to realty growth here.
The region is mixed with affordable and mid-segment properties with few in the luxury category as well. There are ample land available for future development, prices are comparatively cheaper on this stretch.