The IT boom had escaped the city of Mysore despite its proximity to India's silicon capital, till Wipro, Software Paradigms and COMAT set up operations in 1999. Today, 38 units operate from Mysore, with software exports touching Rs. 400 crore in 2005-06.

As in other cities, with IT comes a construction boom, and apartments and shopping malls are slowly mushrooming in and around Mysore.

The city corporation has reported 50 major projects for apartments and shopping malls in Mysore. Accordingly, land prices have moved up, to as much as three times in some localities around the Hebbal Industrial Area in Metagalli and Vijaynagar and along the Ring Road.

Rs. 30 lakhs is the average cost of an apartment in the city. Interestingly, Mysore is finding favour amongst the NRI community and IT professionals from Bangalore who display a keenness to reside here. Over 100 licenses were issued by the Mysore Municipal Corporation for commercial and residential complexes in 2006-07.

Thirty residential properties in Mysore are already under construction, while the commercial spaces are likely to take off soon. Among the several projects, Central Park at Ideal Jawa by Shalom Voyagers is a mega residential complex with fitness and entertainment facilities for 1500 apartments.

The Makkaji Mall project is being put up by Maverick Holdings, while Saijayaini Housing has 5 luxury projects under way in the city.

Real estate experts believe that Mysore could soon be very stiff competition for Bangalore , more so as the highway linking the cities gets widened to a 4-lane expressway, and the Ring Road project gets operational.

Copyright © 2006- 2015 NRIRealtyNews.com

• Disclaimer
• Contact Us