Mysore Real Estate Prices Surge 53% in 2024
Mysore's real estate market has seen an impressive jump, with housing prices rising by 53% in 2024. This surge is mainly due to the growing demand from professionals in Bengaluru, who are attracted to Mysore's affordable housing and better quality of life. Major infrastructure projects, such as the Bengaluru-Mysuru Expressway, have made Mysore a top residential choice for those working in Bengaluru's IT sector.
Factors Driving Demand
Enhanced Connectivity: The Bengaluru-Mysuru Expressway has reduce travel times, making it easier to commute between the two cities. This improved connectivity has turned Mysore into a strong residential option for those working in Bengaluru's key IT hubs like Whitefield and Electronic City.
Affordable Housing: Mysore offers housing prices 30-50% lower than Bengaluru, making it a favorite for first-time buyers and investors. The city's affordability, along with its expanding IT sector, has drawn significant real estate investment.
Better Quality of Life: Unlike the crowded and costly lifestyle in Bengaluru, Mysore provides residents with a quieter environment, lower pollution levels, and reduced living costs.
Affordable Locations in Mysore
Here are some of the most popular areas in Mysore:
Hootagalli: Known for its growing IT sector with companies like Infosys and Wipro nearby. It offers a price range of ₹3,500 - ₹4,500 per sq.ft.
Vijayanagar 4th Stage: This family-friendly area is expected to see property value growth due to metro development plans, priced between ₹3,200 - ₹4,000 per sq.ft.
JP Nagar: A central location with high rental demand and good resale value, offering prices from ₹3,000 - ₹3,800 per sq.ft.