Real estate prices in Chamarajanagar town have increased steadily over the past few years, driven by improved connectivity, mainly to Mysuru, and rising industrial activities in the region.
Rising Land Prices Impact Home Buyers
Owning a permanent house or buying a site has become difficult due to rising land prices, said Mahadevashetty of Ramasamudra. An acre of land within a 25 km radius of Chamarajanagar town is now selling at Rs 25 lakh, said Chamarajanagar Small Scale Industries' Association (CHASSIA) president Jayasimha.
Industrial Growth Fueling Demand
Jayasimha said that land prices have steadily increased after the establishment of Kellamballi-Badanaguppe Industrial Area as several investors have started to set up industries. The bus journey to Mysuru also reduced to just one hour from Chamarajanagar, coupled with development of Thandavapura-Nanjangud Industrial Area in Mysuru district. Train connectivity is also contributing to the increase in land and property prices in Chamarajanagar town, he said.
Investor Interest from Neighboring Regions
Investors from Mysuru, Bengaluru and neighbouring states, including Tamil Nadu and Kerala, have also been reportedly showing a growing interest in land purchases in and around the town.
CUDA's Role in Planned Growth
Speaking to TOI, Chamarajanagar Urban Development Authority (CUDA) president Mohammed Asghar said as they have brought most of the villagers around Chamarajanagar into CUDA jurisdiction for planned growth, the land prices have increased. Besides, increased industrial activities, connectivity, mainly to Mysuru, and better roads have contributed to increase in land and property prices in Chamarajanagar, he explained.
