Proximity to Bengaluru and improvement in connectivity apart from the projected growth of the city is fuelling the drive among end-users to scout for properties in Mysuru as a second-home option.
Besides, some of the old-world charms of the city has not completely eroded yet, despite the increase in population and vehicle density adding to chaos on roads. But there has been an increase in inquiries from both investors looking for long-term gains and end-users keen on building or purchasing a house, according to key players in the building and construction sector in Mysuru.
The Builders’ Association of India, Mysuru chapter is positioning the city as an investment destination and is optimitic of its growth potential to promote which it has organised a mega-property exhibition which was inaugurated here on Friday.
Being held at the Bharat Scouts and Guides Ground near the Old DC office, the expo is being conducted in association with the Confederation of Real Estate Developers Association of India (CREDAI) and Mysore Builders’ Charitable Trust and was inaugurated by B.R. Mamatha, Inspector General of Registration and Commissioner of Stamps.
The expo Myrealty 2024, is a mega-property expo and has brought all major players in the housing sector including developers and builders under a common platform to showcase the slew of properties that are available in Mysuru, said K.N. Ravi Shankar, Chairman, BAI, Mysuru.
The BAI property expo brings together apartment and layout develpers as well as home loan financial institutions under one roof to showcase the available properties and financial services, he added.
The BAI said the public will have access to authentic and reliable information on a variety of properties including group houses, apartments, villas, layouts etc.
Dinesh Basavapatna, former chairman BAI, said Mysuru is being pitched as both an investment destination with a long-term time horizon as also for short-term benefits. He said connectivity to Mysuru has improved in the last few years and this has also given an impetus to growth.
‘’There is a demand, mostly from working professionals in Bengaluru and people with roots in Mysuru who want to settle here and this has also triggered a demand for apartments though people with deep pockets scout for plots to construct houses’’, he added.
About 15 years ago the concept of apartments was not popular in a city like Mysuru where people preferred individual houses which led to horizontal growth of the city. But there is also a growing conviction that it made sense to live within the city limits and hence apartment constructions have also gained traction. In addition, senior citizens living alone are increasingly preferring to live in apartments due to safety factor, said Mr.Dinesh Basavapatna.
The property expo will be on till June 10th.
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Published - June 07, 2024 08:56 pm IST
