Overview of Bannimantap, Mysore

Location and Connectivity

Bannimantap in Mysore is a well-connected area, offering good access to key places such as the Mysore-Bangalore road, Manipal Hospital, and JSS Medical College. Its strategic position makes it appealing to both buyers and renters.

Property Rates and Trends

• Starting prices for properties in Bannimantap are about Rs. 3,333 per square foot, while the average price is around Rs. 12,492 per square foot. This shows a sizable range in property values that suit different budgets.
• There has been a significant 22.45% drop in property rates over the past year, which could present a good investment opportunity at lower prices.

Types of Properties Available

• For Sale:
  • You can find independent houses and upscale multistorey apartments. For example, a 3 BHK apartment is available for around INR 2.50 Cr.
  • Various projects like Damden City Square and Damden Square provide different residential options.
• For Rent:
  • Many rental properties are on offer, including 1 BHK, 2 BHK, and 3 BHK apartments and houses.
  • Monthly rental costs range from Rs. 6,000 for a 1 BHK to ₹40,000 for a 3 BHK, depending on amenities and location.

Amenities and Facilities

• Properties in Bannimantap often have modern features like 24-hour water supply, covered parking, CCTV security, and easy access to schools, hospitals, and other services.
• Many rental places are fully furnished, with features such as gardens, balconies, and modular kitchens.

Rental Market Details

• Rental Prices:
  • 1 BHK: Around Rs. 6,000 - ₹12,000 per month.
  • 2 BHK: Around Rs. 14,500 - ₹32,000 per month.
  • 3 BHK: Around ₹18,000 - ₹40,000 per month.
• Preferred Tenants:
  • Numerous landlords opt to rent to families or bachelors, often with certain criteria for tenants.

Investment Potential

• Even with the recent price drop, Bannimantap is still a great spot for property investment thanks to its connectivity and several upcoming and established projects.

PropertyWala's Conclusion

Bannimantap in Mysore is a promising place for buyers and renters alike, featuring both affordable and upscale choices. With its strategic position, modern amenities, and various property types, it stands out for anyone looking to buy or live there. Market conditions suggest it might be a good time to buy, given the recent drop in property rates. For those renting, there's a wide range of options that cater to all budgets and preferences. All in all, Bannimantap offers a balanced mix of convenience, amenities, and investment potential, making it an attractive option for real estate enthusiasts.