Mysore, situated in the southern state of Karnataka, India, is the second largest city of the state. Mysore is a popular destination around the world and every Bangalorean’s weekend getaway. Known for its natural beauty and rich heritage, it is also known as the cultural capital of Karnataka. Infrastructure and accessibility to the capital city, Bengaluru, are one of key factors driving investments and developments to Mysore. The upcoming 60m wide 10 lanes Bengaluru – Mysore expressway at a cost of Rs 3,000 cr. will make commuting between these two cities within 90 minutes.
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Bangalore vs Mysore
Capital Values
Real Estate in Bangalore has become unaffordable, with peak high prices in and around 30 km from the city, unaffordable to most middle-class investors. Whereas in Mysore you can find a good MUDA Approved Residential Sites and other properties within 10 km from the heart of the city with a price range of 12 Lakhs to15 Lakhs Location, surrounding infrastructure, and the quality of neighbourhood such as Bannur Road, KRS Road, Bogadi Road. The value of monthly instalment sites in Mysore can go up to a potential capital appreciation of 30% per annum.
Infrastructure
Bengaluru has one of the worst traffic situations in India, with congestion increasing day by day. Unexpected rapid developments without proper planning and implementation are a cause of this problem. Whereas sites in Mysore are part of one of the most well-planned cities in India with wide roads and good interconnectivity, thanks to Sir M. Visvesvaraya & The Wadiyars. In Mysore, you can always leave home 15 minutes prior to the movie at the theatre.
Cost of Living
Mysore is one of the least expensive cities to live in India. It provides its citizens with everything that they can dream of at half the price of Bengaluru. From basic groceries, restaurant meals, housing, to education, everything is way cheaper in Mysore without compromising on quality. Compared to Bengaluru, with day by day cost of living being hard to cope up for the middle-class lower living cost makes Mysore city a great location for retirement.
Saturated
Bangalore, as a real estate market, has been saturated to an extent where growth potential from the price point today is not very attractive, whereas two-tier cities such as Mysore, which have been mostly neglected by investors prior offer good potential upside on investments.
Knowledge hub
Mysore real estate has always been a better and prominent education hub for decades, with the University of Mysore and other established educational institutions. Nowadays, there are several nationally and internationally accredited educational institutions in the city, including Delhi Public School ON Bannur Road and Visvesvaraya Technical University located on Ring Road.
Conclusion
Mysore is now fast-emerging as a real estate hotspot in Karnataka. Bangalore’s bustling city life, coupled with bumper-to-bumper traffic and high pollution levels, is pushing young potential homebuyers to consider investing in Mysore as an option for real estate investment. Unbeatable infrastructure and seamless connectivity with the upcoming 10-lane expressway, Mysore is a city with prospects of a very promising future. In Mysore real estate, plots appreciate faster than apartments, as age does not affect your investment in plots, as it does in the case of apartments. We from Rai Estates suggest that you invest in plots if you are looking for an investment and are looking forward to growing your capital.
