Saturday, May 26, 2007

Realty show indicates boom in Mysore

Times Of India reports

The real estate fair My Realty 2007 held in Mysore last week drew a good many visitors looking at buying property in Mysore. The exhibition was organised by the Builder's Association of India (BAI), Mysore Chapter and Times Property.

BAI, Mysore Chapter Secretary M B Nagakumar said that a whopping 22 lakh square feet of housing is expected to be created by the more than 100 new apartment projects which were on display at the show. Visitors from other places evinced keen interest in the show. Darshan Prabhu, a realty investor from Mumbai, who was at the show, said that since Mysore is a growing city the realty segment is in for a boom.

Exhibitors said they got many enquiries and were quite happy with the response. The show was used by some builders to launch their new projects in the city. Some Bangalore and Dubai-based builders, who chose this platform to showcase their projects in the city, were happy with the leverage the show gave them.
Mysore's Deputy Commissioner and Chairman of Mysore Urban Development Authority, S Selva Kumar who inaugurated the show noted that the city has been growing by leaps and bounds in the last three years, and this calls for a lot of thinking from administrators and builders. "We need to focus on satellite towns and vertical growth to meet the requirements of the future and decongest the core city area", he said.

B R Badarinath, Chairman, BAI, said that the BAI's focus has always been on developing Mysore gracefully. Over 40 developers put up their stalls at the fully air-conditioned venue, showcasing their projects in the city. Financial institutions too were at the exhibition, to provide immediate approvals for home loans. A Ravindra, Chairman, My Realty 07 said more than 14,000 people visited the show, out of which 30 percent consisted of the IT workforce from Bangalore. According to K Sriram, State Chairman, BAI, this year will see a lot of developments happening in the realty sector. "Many foreign realty firms were found to be showing interest in the city's growth and they are quite bullish about Mysore's real estate trajectory", he said.

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