Looking At Rental Returns? Here's Why You Should Shortlist Mysore's Vijayanagar
For those looking at rental returns, the decision is usually based on the rental yield and the price appreciation of the property. Considering these two, Vijayanagar, Mysore is a great option for investment. The rental rates were Rs 7 per sq ft in Jan 2016. This rose to Rs 11 per sq ft in Nov 2016. For example, one can earn an additional income of Rs 4,000 for an area sprawling over 1,000 sq ft. Along with that, the property prices in Vijayanagar witnessed an increase of 19.3 per cent over the last 36 months.
Mysore's proximity to Bengaluru is the main reason that the city is enjoying great attention from NRIs and other investors. The new Bangalore-Mysore expressway connects the two cities. This adds to the demand for real estate in Mysore as it is considered as a great alternative for the large number of working population that moves to Bengaluru. The cost of living in Mysore is comparatively less when compared to other metro cities. Perhaps, this is the reason why this locality has witnessed an increase of 3.82 per cent in the annual rental yield making it a good time for investors to park their money. All these factors attract buyers Mysore and Vijayanagar is one of the popular localities in the city.
Furthermore, Vijayanagar enjoys demand by tenants as the locality is surrounded by Metagalli, VV Mohalla, Ramakrishnanagar, Jayalakshmipuram, Yadavagiri and Gokulam. The key thoroughfares are Ring Road and Mangalore Mysore Highway that offers smooth connectivity to the residents. The Mysore Railway Station and the Mysore Airport (for charter and VIP flights only) are at a distance of around 4.9 kilometres and 16.2 kilometres respectively.
On the scale of 10, Vijayanagar has an excellent liveability score of 9.1. The locality has 70 schools, 68 hospitals, 68 bank branches, 71 ATM's and 89 restaurants. The social infrastructure is one of the prominent factors that encourages tenants to settle for Vijayanagar. The total number of projects are 13. Around 11 are ready to move in and two are currently under construction.