Mysore – The Best Property Investment Destination Next to Bangalore

According to the sources, Mysore is expected to surpass Bangalore and become a 'smart city' soon. As the city has been a major hub for many multinational companies across the globe, the real estate market is witnessing an upward trend in the recent years. Apart from it, the proposed developments in the city will push the realty market further. The allotment of Rs 3,000 crore to expand the Bangalore-Mysore National Highway into a six-lane has attracted a wide range of property investors. The presence of many industries and the proposed developments along the Film City certainly makes Mysore as the best destination for end-users as well as property investors.

Being a getaway destination in the past years, Mysore is now emerging as the top residential investment destinations for many home buyers and property investors across the globe. Properties in Mysore have increased the property investment opportunities for the mid-income groups, as the property prices are cheaper when compared to Bangalore. Owing to the residential demand, the city is witnessing a numerous range of residential projects being developed by the real estate developers with local and national existence. Especially, the demand is high for the residential apartments in Mysore.

The price of the 2 bhk apartments in Mysore (800-1200 sqft) are ranging between Rs 32 lakhs-90 lakhs. The home buyers can find 3 bhk luxury apartments that are sized between 1,500-2,700 sqft at an average estimated cost of Rs 1 crore. As the demand is high among the second time property buyers from Bangalore city and NRIs, the residential developers have been engaged in constructing high-quality residential projects in Mysore that meets the requirements of them. Besides, when compared to price of a house for sale in Bangalore, the property price are little cheaper at Mysore. Thus, these reasons have increased the residential demand in Mysore.

According to the recent sources, over 30 residential projects are developed on targeting the NRIs alone. An opportunity to own a property in their homeland and moderate home loan interest rates have encouraged the NRIs to make a property investment in Mysore. As the new residential projects in Mysore are built with all the modern amenities, it grasps the attention of the NRIs to buy a property. The price of this luxury range of apartments starts from Rs 6,200 per sq ft. However, the property prices differ based on the facilities and specifications of the property.

The advantage of close proximity to Bangalore through the expressway and proposed super-fast trains are the other major factors that increase the residential demand in the city. Therefore, if you are a working professional who look for a house for sale in Bangalore at a affordable price then you can prefer Mysore as an alternative option.

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