Layout at Ilvala, Mysore

A bunch of us drove over to Mysore last Sunday to evaluate a real-estate investment. A layout is being formed by a trust called "Shree Rajarajeshwari Gruha Nirmana Sahakara Sangha Niyamatha". The project is called "Swarnadharane" (a.k.a "Goldfields").

The society claims to own 200 acres of land, off the 4-lane road leading to Hunsur. A little ahead of the Ilvala Police Station, you will find an arch that reads "Gomateshwara Temple" in Kannada. This would be the access path to the layout. Sites of dimensions 30x40, 60x40 and 50x80 are being formed. Weird part is that the sites have not even been planned on paper as yet. There are absolutely not markings / boards as of now. So, don't bother visiting without giving the "President" a call.

The land is very close to the 4-lane State Highway. Our main concern is that Ilvala itself is about 14 kms from the heart of Mysore City. And "14 kms" is by all standards "far" in Mysore. The society has quoted a price of 347 psqft. Considering how isolated the stretch currently is, I believe it is very aggressively priced.

Claims from the society include: Infosys has bought the adjacent land. The land in front has been marked for a Golf course etc. etc.

Verdict: Investors having a 10-15 year long term perspective can consider this investment.