2022-2023 will be a golden year for investment in Mysuru
Namma Mysuru is developing super fast! The connectivity to the city, which was already good to begin with, is seeing excellent advancement in recent times. The city’s infrastructure is being rapidly geared up to meet the rising demands of a fast developing city. This boost in connectivity and infrastructure has predictably led to a great expansion of the job market as many multi-national corporations are setting up their workspaces at Mysuru. The development has also created a huge demand for properties in Mysuru, resulting in a real-estate boom.
A few contributing factors for the current real-estate boom are
1. A new 10 lane Expressway makes Bengaluru just 1.5 hrs. away from Mysuru.
A new 10 lane expressway is being built between Mysuru and Bangalore. The state-of-the-art highway will bring down the travel time between the two powerhouses of Karnataka to just 1.5 hours. The road works are on schedule and are expected to be completed by October, 2022. Once completed, travelling between Mysuru and Bangalore will be lightning quick. This has opened up a whole new market for land investors in Bangalore.
2. 6 Lane Highway will connect Mysuru - Nanjangud
Nanjangud is the industrial hub in Mysuru district. Mysuru-Nanjangud-Thandavapura stretch has many industries including Asian Paints and TVS. There is also a 100-acre Women Entrepreneurs Park at Thandya near Kadakola. Work on an Inland Container Depot/ Multi Modal Logistic Park for Railways at Kadakola by Container Corporation of India is underway on 61 acres of land, further boosting transportation and industrial growth in this region.
The existing 4 lane highway will soon be upgraded to a 6-lane highway. The Mysore - Nanjangud belt has seen tremendous development over the years and by improving the connectivity between the two cities, the scope for economic development will be boosted further.
3. Many other highways & roads in & around Mysuru will be upgraded
Progress and development is happening all around Mysuru. To boost the growth further, many highways and roads in and around Mysuru will be upgraded. Bangalore - Nilgiri road, Periyapatna road, Mysuru-Hassan road etc are some of the highways that will benefit from the proposal.
4. Runway expansion of the Airport facilitates better connectivity and more flight movements to far-off places
An underpass on the Nanjangud highway will enable the Mysuru airport to expand and accommodate bigger aeroplanes. International flights with bigger carriers will land in Mysuru soon. The upgraded airport will boost the industrial and tourism sectors of Mysuru. Once the expanded airport is operational, the focus will shift from Bangalore to Mysuru as many industries will look to establish an alternate base in Mysuru. Also, tourists from across the world can directly land in Mysuru and experience the world-renowned culture, sights and hospitality of the great city.
5. Mysuru - Chennai Bullet Train project is launched and the route has been finalised
The Government of India has green lighted the preparation of DPR for Karnataka’s first bullet train project on the Mysore-Bangalore-Chennai route. Once the project is completed, the travel time between Mysuru and Bangalore will be just 45 minutes and Bangalore to Chennai will be just 2 hours.
6. Mysuru City Corporation is going to be 'Greater Mysore' (Bruhat Mysuru Mahanagarapalike)
The Heritage City Mysuru is expanding. The plan to include nearby areas into the ambit of Mysuru City Corporation is finally becoming a reality. It is out of this idea and need that the concept of Bruhat Mysuru Mahagara Palike was born. With more areas joining in the corporation limits, the funds sanctioned by the Government for development will increase. This will help in the better development of infrastructure facilities and will also boost the value of sites by many-folds.
7. The IT Sector is expanding Beyond Bengaluru. Various MNCs will have their campus at Mysuru soon.
‘Beyond Bengaluru’, an ambitious initiative of KDEM and the Department of Electronics, IT, BT and S&T, Government of Karnataka, is turning Mysuru into a preferred destination for businesses across several industry verticals. The project is playing a key role in the digital transformation and development in the state. IBM company's Client Innovation Centre (CIC) which specialises in design, software engineering, and analytics has already set up their campus in Mysuru and more corporations are expected to follow soon.
8. India's First & Largest Semiconductor Chip Fab Plant at an investment of Rs. 22900 Crores will be set up in Mysuru
India’s first and largest semiconductor fabrication unit will be set up in Mysuru. The semiconductor fabrication plant is expected to generate more than 1,500 direct jobs and 10,000 indirect jobs. The plant will change the industrial landscape of Mysuru. The fantastic and progressive project will help many other supplier industries to grow and this will give a boost for contract manufacturing. The project will push the economy and development of Mysuru further.
9. A Multimodal Logistics Park is being setup in Mysuru which will boost the Industrial Growth
Container Corporation of India’s (CONCOR) Multi-Modal Logistics Park will be established at Mysuru and is expected to be fully functional by 2022-23. Once completed, the Rs.100 crore project will give a thrust to the industrial growth in the region.
10. Proposed Film City is going to boost the Tourism Sector of the Heritage City.
Film City is a very big project which once established, will provide employment to over 5,000 people including artistes, technicians and workers daily. Besides, it will also become a place of tourism.
There is a sudden and rapid expansion of the city underway. The price of land in and around is escalating many-folds. 2022-2023 will be a golden year for investment in Mysuru.
Alliance Square has more than 20 years of experience in the real estate industry and offers you the best investment opportunities in Mysuru. We have more than 25000 happy customers so far. You can choose from a wide range of premium MUDA, DTCP approved & RERA registered plots in all directions of Mysuru. Alliance Square has well developed, ready-to-register MUDA sites at attractive EMIs available.