Mysore, the tier-II City is exhibiting a higher trend and huge demand for deluxe houses and apartments from the property buyers. This upward trend is claimed with the rush of visitors including prospective buyers in the two day Mysore Property Expo that was held jointly by CREDAI and Times Property at Hotel Regalis. Seeing the rush at the property expo, CREDAI members demanded the government to revise the Comprehensive Development Plan (CDP) that is pending since 2010.
Bangalore, which is reaching its saturation point, now people are eyeing on Mysore as an alternative place for property development. The CREDAI members also emphasised on the vertical growth of Mysore with the development of more high-rise buildings while preserving the agricultural land.
The members also added that a proper connectivity such as doubling railway line from Bangalore to Mysore, transformation of road link from four lane to eight lane between Mysore and Bangalore, and appropriate air connectivity will attract more people to Mysore. They also suggested that the authorities should come out with common Floor Area Ratio (FAR) as this will give way for affordable homes to the prospective buyers.
In the last six months in Mysore, it has been observed that people showing interest to stay in apartments and reason being the security and other facilities like water, electricity and etc. Hence, to meet the buyers requirement and people needs, many apartments of international standards are coming up across Mysore particularly in JP Nagar and Bogadi.
With the uptrend and increased demand in the real estate, the realtors are planning to meet the Chief Minister and discuss on how to improve and market properties in Mysore. Since, buyers from Mumbai, Delhi, Chennai, Kodagu, Coimbatore, and Bangalore are showing interest to invest in properties in Mysore, one of the major builders also emphasised the need of development in connectivity between Mysore and Bangalore.
