Overview of Ilavala Hobli, Mysore

Location and Access

Ilavala Hobli is a favored spot in Mysore, Karnataka, strategically placed for ease of travel. It stays handy to major points of interest, like schools, clinics, and primary routes. About 13 km from Mysore City, the region is close to the upcoming Peripheral Ring Road (PRR) and other major roads such as Hinkal ring road and Mysore Madikeri Highway.

Available Properties and Costs

• Land/Plots: Different sizes and options are available, with prices from Rs 1350 to Rs 2850 per square foot. Lately, the price seems to hover around Rs 2500 per square foot, or so the latest figures from late 2024 suggest.
• Villas and Apartments: Though not as prevalent, residential plots take center stage here.

Plot Sizes and Amenities

There are plots of diverse sizes, from roughly 1163 square feet to about 4000 square feet. Most plots offer space for multiple floors, usually 3 to 4 floors. Features like garden areas, good water supply, electrification, and security services are among the perks. Plus, some plots are in developed areas with asphalt roads and landscaped parks.

Price Changes

Ilavala Hobli land values have appreciated noticeably over time. Last year there’s been a 25% spike. Over the past three years, there’s been a whopping 72.4% rise, and within the last decade, it shot up by 525%! Recently there's been a quarterly uplift of 6% in the values up to October-December 2024, though there have been minor fluctuations too.

Investment and Rent Outlook

Investors will find this area highly attractive due to its prime location and expected good returns. Rental market data for Ilavala Hobli isn't particularly detailed. Yet, Mysore's rental trends show an upward trend generally. Average rental rates span ₹ 3500 to ₹ 13638 across various spots in Mysore.

Important Landmarks and Features

Key nearby points include St. Joseph Central School, NJS Hospital, and the Peripheral Ring Road. Plus, it's close to spots like Mysore Palace and Mysore Madikeri Highway.

PropertyWala’s Conclusion

Ilavala Hobli, Mysore, shines as a strong option for property buyers and investors. The strategic positioning, appreciating real estate value, and variety of modern and sizable plots make it appealing. The connectivity, landmark access, and good potential ROI mark it as a noteworthy venture. Still, staying updated with the current market trends and prices is still key to making the best decision.