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As Bengaluru grapples with rising property prices, relentless traffic, and urban congestion, many Bengalureans are shifting their preference to Mysuru's booming real estate market. Enhanced by key infrastructure developments like the <keyword id="20085257" type="General" weightage="20" keywordseo="Bengaluru-Mysuru-Expressway" source="keywords">Bengaluru-Mysuru Expressway</keyword> and NICE Road, Mysuru is now offering a unique blend of affordability, accessibility, and a superior quality of life. With commute times from Mysuru to Bengaluru often shorter than navigating within Bengaluru itself, the city is fast becoming the preferred choice for IT professionals and families alike. <h2>Bengaluru vs. Mysuru: A Tale of Two Cities </h2>Bengaluru, often hailed as India's Silicon Valley, has long been a magnet for IT professionals. However, the city's rapid urbanization has brought challenges such as rising property prices, traffic congestion, and a higher cost of living. According to studies, Bengaluru loses nearly ₹19,725 crore annually due to time and resources wasted in traffic, and the average commuter loses 7.07 lakh hours of productivity annually, highlighting the city's infrastructural strain. In contrast, Mysuru offers a distinctly unique narrative. Recognized as Karnataka's second-largest IT hub, Mysuru is home to industry giants like Infosys, Wipro Technologies, and Software Paradigms India. The city's IT sector, coupled with its planned urbanization, makes it a perfect blend of growth and livability. <h2>Connectivity: The Game Changer </h2>One of the biggest factors redefining Mysuru's real estate landscape is its enhanced connectivity with Bengaluru. The 119-km Bengaluru-Mysuru Expressway, a six-lane, access-controlled highway, has dramatically reduced travel time to just two hours. Key Bengaluru IT hubs such as Whitefield and Electronic City are now easily accessible, making Mysuru a viable residential base for professionals working in Bengaluru. This improved connectivity, combined with Mysuru's infrastructure, has shifted homebuyers' focus toward the city, which offers a better balance of work and lifestyle. Puneeth., an IT professional working in Electronic City, Bengaluru, "Living in Bengaluru had become unaffordable and exhausting due to skyrocketing rents and endless traffic jams. I recently shifted my base to Mysuru, and my commute to Electronic City is now quicker and much less stressful than when I lived within Bengaluru. The improved road connectivity makes all the difference." Akshaya. S., a work-from-home professional visiting Bengaluru occasionally, "Mysuru is peaceful and far more livable than Bengaluru. I recently moved here, and even for emergency meetings in Bengaluru, the Elevated Corridor Highway makes it easy to travel. With the metro connectivity in Bengaluru, I can complete my meetings and return to Mysuru within 90 minutes. It's the best decision I've made for my lifestyle and peace of mind." <h2>The Mysuru Advantage</h2> Unlike Bengaluru, Mysuru provides residents with: <ul><li>Affordable Housing: Housing costs in Mysuru are significantly lower than in Bengaluru, offering better value for money.</li><li> Serene Living: Mysuru boasts low pollution, noise levels, and less congestion, creating a healthier living environment.</li><li> Cost-Effective Lifestyle: From groceries to education, Mysuru offers high quality at lower prices.</li><li> Economic Growth: With IT and industrial expansions, the city's job market is growing rapidly, adding to its appeal.</li></ul> A recent market study revealed that housing prices in Tier-II cities are rising due to increasing demand, with Mysuru recording a 53% price hike, showcasing its growing potential as a real estate hub. Real Estate Developers Rise to the Occasion Understanding the growing demand, developers in Mysuru are introducing projects catering to diverse needs. A significant trend is the resurgence of plotted developments, where buyers can build custom homes. These plots are more attractive compared to apartments, which are often criticized for depreciation in quality and limited undivided share of land (UDS). The availability of spacious plots at affordable rates is enticing not just end-users but also investors looking for high returns. Mysuru's real estate is adapting to this influx of interest by creating residential spaces that align with the city's ethos of affordable luxury and sustainable growth. Mysuru's transformation is a testament to the power of planned development and connectivity. As Bengaluru grapples with its growing pains, Mysuru is capitalizing on its strengths, offering residents and investors an unmatched combination of affordability, accessibility, and quality of life. The city is no longer just a peaceful alternative to Bengaluru-it's a competitive contender poised to lead Karnataka's real estate market into a new era of growth and innovation. For those seeking a prosperous future, Mysuru stands as the ideal destination to live, work, and invest.

Why Bengalureans are choosing Mysuru: A real estate boom driven by connectivity and quality of life

New Delhi, Realty firm <keyword id="72751" type="General" weightage="20" keywordseo="Brigade-Enterprises" source="Orion">Brigade Enterprises</keyword> has reported a 72 per cent increase in its consolidated net profit to Rs 133.50 crore for the second quarter of this fiscal year. Its net profit stood at Rs 77.58 crore in the year-ago period. Total income rose to Rs 1,407.92 crore during the July-September period of this fiscal year from Rs 912.19 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday. The company's sales bookings stood at 1.67 million square feet valued at Rs 1,249 crore during the second quarter of this fiscal year. "All business verticals contributed significantly to the growth of the company in Q2 of FY24. The residential segment continues to outperform with strong absorption across our key markets, heightened end-user interest, stable registration processes, steady home loan rates and excellent response to new launches," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said. With a robust pipeline of launches in Bengaluru, Chennai and Hyderabad, she expressed confidence that the company would sustain the momentum going forward. Established in 1986, Brigade Enterprises Ltd is one of the leading property developers. It has developed many housing, commercial (office and malls) and hospitality projects across cities -- Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru.

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

If you step out into <keyword id="19895037" type="General" weightage="100" keywordseo="bengaluru" source="keywords">Bengaluru</keyword> traffic these days, there’s a good chance you’ll discover a bulky water tanker spearheading the all-too-familiar clog in traffic. Amidst the ongoing <keyword id="6355836" type="General" weightage="20" keywordseo="water-crisis" source="Orion">water crisis</keyword>, India’s Silicon City has mobilised thousands of tankers that zip, almost heroically, across the city, rescuing parched residences from the metro’s urban planning crisis. Bidding to reduce their reliance on the exorb<keyword id="6354185" type="General" weightage="20" keywordseo="it" source="Orion">it</keyword>ant tankers — a necessary step after the exhaustion of half the city’s groundwater-fed borewells — many residential societies have begun innovating water-saving techniques, with varying degrees of success. However, for the several businesses and industries littering the metropolitan town, it seems like dark days are looming. <cmsannotation type="cmsannotation" annotationid="IT in turmoil" comment="subhead" text="IT in turmoil">IT in turmoil</cmsannotation> Hosting over 1,400 tech companies that employ tens of lakhs of employees, Bengaluru has certainly earned its title as India’s ‘Silicon Valley’. Not only has this driven a rapid boom in economic, infrastructural and industrial development, the city has acted as a magnet for people looking for attractive employment opportunities. Unfortunately, this success has also resulted in <a href="https://bpac.in/bangalore-population-growth-consequences-and-possible-solutions/" data-type="tilCustomLink">population levels haphazardly spiking</a> from 2,900 people per square kilometre in 2001 to 4,300 within a single decade. Estimates suggest that this figure may have breached 8,000 by now! In addition to deterring water-cooler conversations, the lack of water in their workplaces have led to several companies already urging employees to work from home. Echoing a growing sentiment among the city’s techies, <a href="https://m.economictimes.com/news/india/it-companies-in-bengaluru-urged-to-give-15-lakh-employees-wfh-option-as-city-grapples-with-water-crisis/articleshow/108761390.cms" data-type="tilCustomLink">ex-Chief Justice K Sreedhar Rao also pleaded</a> for temporary remote arrangements for migrant IT workers to depopulate Bengaluru till the water crisis is dealt with. However, many such multinational employees have already begun to preemptively take matters into their own hands by temporarily or permanently moving to other cities, such as the nearby Mysuru. Needless to say, this has disrupted operations for many companies, including some of the top IT firms in Bengaluru. In a surprising turn of tragic events, senior personnel at <keyword id="19969515" type="General" weightage="20" keywordseo="dell" source="keywords">Dell</keyword> have begun skipping meetings to prioritise their procurement of water, reported the Deccan Herald. <cmsannotation type="cmsannotation" annotationid="Real estate rates to fall; restaurants forced to adapt" comment="subhead" text="Real estate rates to fall; restaurants forced to adapt"><keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real estate</keyword> rates to fall; restaurants forced to adapt</cmsannotation> With pleasant weather the year round, Bengaluru has proven itself time and again as an excellent place to settle down and relax. The city’s diverse population is a testament to its uncanny ability to draw people from all over India, even before the city’s notable IT boom. Real estate has now hit an all-time high, with high demand and attractive financial options helping the sector grow exponentially in the past few decades, reportedly recording a staggering nine-year-high 54,000 housing units sold in 2023. However, the city’s recent water woes have left potential property investors second-guessing. According to a recent Deccan Herald poll, around 60% of the respondents noted that they have postponed their move to Bengaluru due to the ongoing shortage, while a similar number of people have also begun evaluating investment options in other cities. Homebuyers have also begun to diligently inquire into <keyword id="55273" type="General" weightage="20" keywordseo="groundwater" source="Orion">groundwater</keyword> borewell depths and water-saving technologies when consulting developers. While <a href="https://www.deccanherald.com/business/bengaluru-water-crisis-alarms-property-investors-dh-poll-2930539" data-type="tilCustomLink">many contractors remain firm</a> that these reactions are not representative of a long-term trend, some experts have predicted that a fall in property prices may become inevitable. A <a href="https://www.republicworld.com/business/real-estate/bengaluru-water-crisis-property-prices-in-peenya-hsr-layout-marathahalli-to-fall-15-say-experts/" data-type="tilCustomLink">Republic report</a> explains that house rates could fall up to 10-15% in the most water-stressed regions of East and Central Bengaluru, including HSR Layout, Marathahalli, Rajaji Nagar and Peenya. Needless to say, the crisis has also taken a toll on Bengaluru’s various hotels and eateries, many of which are severely dependent on tanker water for cooking, cleaning and drinking purposes. Krishna Raj, owner of the popular <keyword id="21126683" type="General" weightage="20" keywordseo="nisarg-grand-hotel" source="keywords">Nisarg Grand Hotel</keyword>, <a href="https://www.livemint.com/news/india/bengaluru-water-crisis-news-hotels-disposable-utensils-shortage-lok-sabha-polls-karnataka-dk-shivakumar-congress-bjp-11710055127680.html" data-type="tilCustomLink">explained</a> that they might have to begin serving food in disposable utensils if the trend continues into the summer months. <cmsannotation type="cmsannotation" annotationid="Industrial district parched" comment="subhead" text="Industrial district parched">Industrial district parched</cmsannotation> Located in Northwest Bengaluru, Peenya is home to thousands of industries of varying sizes, producing a host of electronics, textiles, packaging, machines and other consumer items. However, being one of the largest industrial areas in Asia hasn’t protected its businesses from the ongoing crisis. In an <a href="https://www.business-standard.com/industry/news/bengaluru-water-crisis-to-impact-local-industries-in-coming-weeks-experts-124030601026_1.html" data-type="tilCustomLink">interview with Business Standard</a>, <keyword id="21126682" type="General" weightage="20" keywordseo="peenya-industries-association" source="keywords">Peenya Industries Association</keyword> President H. M. Arif explained that the area’s micro-industries are strained to the point that many could be forced to close soon if the water crisis continues unmitigated. Many such sectors have also become hopelessly reliant on tanker water, and the associated rising costs have begun to bottleneck the manufacturing process. Prices of several commercial products could go up soon if this trend continues. “Many from the hosiery or garment sector need water for processing,” Arif explains. “You need water for workers as well as other needs. The government is saying it will source recycled water for the industry. But for that, there is a tendering process and at this rate, we will not get water this season.” <cmsannotation type="cmsannotation" annotationid="Solutions and cautious optimism" comment="subhead" text="Solutions and cautious optimism">Solutions and cautious optimism</cmsannotation> This is not to say that the government isn’t taking measures to tackle the crisis. After ordaining centralised control over water tankers and actively regulating prices to ensure the city’s water isn’t hoarded solely by the rich, officials also placed bans on recreational water use. In addition, initiatives are underway to “inject” 1,300 million litres of purified water into the city’s drying lakes per day, which the officials allege will help restore local groundwater levels. <keyword id="19927086" type="General" weightage="20" keywordseo="bwssb" source="keywords">BWSSB</keyword> has also announced plans to build an array of next-gen water treatment plants near restored lake beds to purify and deliver water wherever required. Addressing the harsh summers ahead, Karnataka government officials have expressed optimism that the completion of the Cauvery Five — a massive array of treatment plants that will treat sewage to produce 100 million litres of water a day — will help make up for any deficits by July. Meanwhile, many large corporations, including Microsoft, have begun utilising water-saving tap aerators to control water flow in the Bagmane Business Park offices. The city’s water board, the BWSSB, has also launched four mobile apps to help tackle the city’s water crisis. Attempting to bridge a gap between the water department and the citizens it serves, these apps will help residents book water online, apply for borewell permissions, report water misuse and more. At 24% of its total capacity, reservoirs across Karnataka are also drying up. Despite growing shortages, the state government has assured that the Cauvery River reservoir that supplies water to Bengaluru holds sufficient water levels to last at least until June. After that, the pre-monsoon and monsoon rains are expected to replenish the water resources. However, the supply remains much lower compared to the demand, and the only way to survive this summer could be to adopt drastic water-saving measures and a few good spells of pre-monsoon showers.

Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?

<ul><li><keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real estate</keyword> firms are now eyeing fresh markets by expanding into Tier 2 and 3 cities to kickstart new projects. </li><li>This trend is particularly prominent in northern and western India. </li><li>Developers are concentrating on low-rise and plotted developments due to the local populace's preference for these formats. </li></ul>Indian real estate developers are looking beyond metros and big cities. Between January 2022 and October 2023, real estate developers acquired roughly 3,294 acres of land across the country. And, 44.4% of these transactions occurred in Tier 2 and 3 cities, accounting for 1,461 acres spread across 17 separate deals, says JLL, a real estate and investment management company. This trend is particularly prominent in northern and western India, with Panipat, Ludhiana, Nagpur, and Panchkula accounting collectively for 75% of the total acquired land in these cities. <cmsannotation type="cmsannotation" annotationid="Developers flocking to Tier 2 and Tier 3 cities" comment="Subhead" text="Developers flocking to Tier 2 and Tier 3 cities">Developers flocking to Tier 2 and Tier 3 cities</cmsannotation> Real estate firms are now eyeing fresh markets by expanding into Tier 2 and 3 cities to kickstart projects. The data reflects the success of reputable developers in finalizing numerous land deals in response to rising customer demand and increased purchasing power. Buyers in Tier 2 and 3 cities are seeking quality homes and there is demand for such projects. For instance, DLF's inaugural project in Panipat sold out within an hour of its launch. Godrej Properties sold out phase 1 of its plotted development project in Sonipat within two days of its launch. In southern India, plotted residential projects were introduced in cities like Ambur, Mahabalipuram, Coimbatore, Trichy, and Mysuru. Driven by the remarkable residential sales in emerging cities, developers are also acquiring land to create future supply pipelines. Developers such as Godrej Properties, M3M, Eldeco Group, and Omaxe Group have either entered or expanded their presence in these burgeoning markets through recent land acquisitions. “If Tier 2 and Tier 3 cities are developed with proper infrastructure, both physical and social, definitely people would want to love because otherwise home prices are very expensive in the Tier 1 cities. Plus there is also organic demand within the Tier 2 and Tier 3 cities from people who are already staying there,” says Samantak Das, chief economist and head of research and REIS, India, JLL. <cmsannotation type="cmsannotation" annotationid="Land Transaction Snapshot of Tier 2 and 3 Cities: Jan 2022-Oct 2023" comment="Subhead" text="Land Transaction Snapshot of Tier 2 and 3 Cities: Jan 2022-Oct 2023"> Land Transaction Snapshot of Tier 2 and 3 Cities: Jan 2022-Oct 2023 </cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total number of land deals </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">17 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of land transactions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,918 crore </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area of land transacted </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,461 acres </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area of land transacted for proposed residential developments </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Approximately 1,339 acres </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated residential development potential </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Approximately 64 million sq ft </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Estimated sales potential of the proposed residential development </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹21,000 crore </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area of land transacted for plotted developments </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,015 acres </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value of land transactions for plotted residential units </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Over 3,163 crore </td></tr></tbody></table> Source: JLL <cmsannotation type="cmsannotation" annotationid="Horses for courses" comment="Subhead" text="Horses for courses">Horses for courses</cmsannotation> It's noteworthy that a significant portion, 91.6% (1,339 acres), of the acquired land is earmarked for prospective residential developments, with a major emphasis on plotted residential units. Developers are concentrating on low-rise and plotted developments due to the local populace's preference for these formats. Approximately 1,015 acres have been designated for plotted developments, valued at over ₹3,163 crore. “Plotted developments have all the infrastructure, like parks, shopping centres and so on. People earlier would have been staying in their own self built houses, probably as joint families. Now people want to have independence and so they want to move into their own apartments,” says Sen.

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