A trip to Bangalore for most Indians cannot end without a visit to the Mysore Palace. In a way, Mysore, or Mysuru as it is now officially called, has been the entry point to the other nearby and wonderful tourist attractions of Karnataka. Now there are other reasons to know Mysore. With Bangalore growing faster than one ever thought about, its traffic mess growing, even more, Mysore has become the next favored destination for companies. Many domestic IT companies have already started their campuses in Mysore, notable among them being Infosys. Slowly the corridor connecting Bangalore and Mysore have also become the famous hub for many IT companies and this is creating a buzz amongst the local real estate market at Mysore Road. Due to good market drivers – IT/ITes sector- which ensures strong macroeconomic dynamics, most home buyers find Bengaluru a perfect place to settle and retire. It is not a surprise then that the real estate demand in the city arises majorly from the migrant population looking for homes. Experts say Bengaluru is a stable realty market and has steady prices as it has neither seen violent fluctuations nor a crash which could have engineered a negative sentiment.
Mysore Road is also bound by the satellite towns of Kengeri and Rajarajeshwari Nagar (RR Nagar). This upcoming area is well planned with the availability of fairly large parcels of land. Surrounding areas like the Uttarahalli Main Road has also seen rapid growth in the recent past. Mysore Road has a thriving social environment, with a multitude of schools, colleges, hospitals, bus stands, and parks. The commercial infrastructure in the region is also upbeat with a number of restaurants, hotels, resorts, multiplexes, and malls spread throughout the area. The entire region is seeing widespread development and has become a self-sufficient micro market catering to the needs of students, single professionals, couples, families, and retirees.
Maintaining that the real estate market of the city hasn’t lost momentum, only 4 percent of the total units available in Bangalore projects are unsold. About 40 percent of the ongoing projects in Bangalore will be ready-to-move-in the next three-four quarters, adding to the total stock available in the market. Mysore Road is now seeing its first cycle of real estate which usually starts with residential, gets along retail, hotels and then commercial spaces. Several factors ranging from good connectivity to the abundance of land have collectively led to the growth and expansion of Mysore Road. The Bangalore-Mysore Road was developed as an initiative to connect two important cities of Karnataka with each other, but the outcome proved out to be more fruitful than that. The residential market along Mysore Road cater to the needs of people from all walks of life. While many localities around here are developed, there are few that have only recently been identified as profitable investment avenues, making residential plots the dominant property type in this region. Mysore Road with enough research and forethought seems to be a wise and fruitful investment.
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