11 months ago
Mysore Emerges as Real Estate Hotspot Amidst Bangalore Exodus
Many people are moving out of Bangalore because it's expensive, and traffic is terrible.
They're going to nearby Mysore, where houses are cheaper and the city is more livable.
Mysore's real estate prices have gone up, but it's still a better deal than Bangalore.
There's a new highway making it easy to get around.
Experts think other big cities in India might see the same thing happen, with people moving to smaller cities for a better life and cheaper prices.
Bangalore residents are increasingly moving to Mysore and other tier-2 cities.
The move is driven by high property costs, traffic congestion, and poor infrastructure in Bangalore.
Mysore real estate prices have risen significantly, but remain more affordable than Bangalore.
The cost of living in Mysore is considerably lower than in Bangalore.
Improved connectivity via the Bangalore-Mysore Expressway makes Mysore accessible.
- Who
- Bangalore residents and real estate investors
- What
- Migration from Bangalore to Mysore due to rising costs and infrastructure issues.
- Where
- Bangalore and Mysore, India
- When
- Ongoing; accelerated by recent infrastructure developments.
- Why
- Seeking more affordable housing, better quality of life, and investment opportunities.
Key facts
- Primary Driver of Exodus
- High property prices & poor infrastructure in Bangalore
- Bangalore's Traffic Ranking
- 3rd worst globally
- Mysore's Real Estate Price Increase (past year)
- Over 50%
- Cost of Living Difference
- 10-20% lower in Mysore than Bangalore
- Mysore Apartment Prices (approximate)
- Starts at Rs 60 lakhs; Premium locations start at Rs 1 crore
- Improved Connectivity
- Bangalore-Mysore Expressway (completed 2023)
Quotes
Sarthak Ahuja
An investment banker
“While the last decade saw real estate growth concentrated in these metros, the next decade will likely see tier-2 cities emerging as the primary growth engines.”
businesstoday.in
“Traffic in Bangalore has become so unbearable that the city is now ranked the third worst globally for congestion.”
businesstoday.in
