Want a villa in Mysore?
Property developers are optimistic about the growth prospects in Mysore in the luxury and the premium housing segment in the medium to long run.
In a market which is driven by preference to vacant plots rather than built-apartments, developers and builders are differentiating between those looking for shelter in the affordable segment and those exploring possibilities for a second home option in different cities and are thus catering to niche clients—not necessarily based in Mysore.
Brigade Group has ventured into a villa project in Mysore, which is the first of its kind for the city as well as for the Group. However, Brigade Group made a soft launch of Brigade Palmgrove, which is coming up on an 18-acre plot at Bogadi. The project entails construction of 85 villas and townhouses, each measuring 4500 sft or 5000 sft.
Sense of openness
The concept redefines modern living and the thrust of the floor plan of the individual villas is to create a sense of space and openness. A private courtyard, landscaped gardens, parks, water bodies and a multi-storeyed clubhouse plus two-car parking spaces per villa is in the offing. While 65 to 75 per cent of the area will be retained as open space, the built area will occupy 25 to 35 per cent. Designed in a contemporary style by Zachariah Consultants, the development will incorporate solar lighting, underground power cables, and 30ft – 40ft wide roads.
Suchendra pointed out that the USP of the project will be easy access to the city centre, as it is located very close to Vijayanagar residential area and just off the ring road. “We will also highlight the approach road to the villas, as it is one straight road from the Crawford Hall along the Kukkarahalli Lake and All India Institute of Speech and Hearing leading to Palmgrove.”
The potential investors are people with disposable incomes looking for a second home option or those with strong roots in Mysore, but settled abroad or working in Bangalore. In addition, there is a growing tendency among working couples to invest in second or perhaps a third property outside Bangalore.
While people in Mysore may still nurture anathema to invest in apartments, they are not averse to ready-to-occupy villas and bungalows, if the product is good and meets their expectations, he added. But the pricing will be a key factor.
Excerpted from: Hindu Property Plus Article by: R. Krishna Kumar