Existing highways connecting Bangalore and Mysore have always overperformed, these are major highways connecting to Kerala, Ooty, Madikeri, and Mangalore.
If you are a frequent traveler from Bangalore to Mysore I’m sure you are at least once struck by hefty traffic between these roads on weekends.
Several industry experts in Real estate have already forecasted the expressway between Mysore and Bangalore that was very much needed as a solution to traffic and safe commuting and for real estate investment growths.
Real estate experts given the example of Mumbai and Pune, rapid growth activities in Mumbai opened up newer opportunities in Pune which was only 140 away.
Pune started getting demand for residential area, rental demands, industrial development activities, easy commute between both Pune and Mumbai made build great demands in Pune.
Pune started seeing rapid growth, offering lower rent, affordable land prices, decent standard of living with smaller incomes.
It is somewhat the same as Bangalore and Mysore compared to Mumbai and Pune, Bangalore has seen fastidious growth increasing in higher rentals, increase in land cost, increased standard of living, and lower supply of land, thus increasing costs that are associated with real estate.
Mysore is 140 km away from Bangalore and has already seen major growth in the real estate segment, which has a larger supply of land, Low rentals compared to Bangalore, a Higher standard of living with a smaller income, and no tension of traffic.
The case was pretty much similar to Mumbai and Pune, major Industries, I T companies started moving to Mysore gradually increasing demand for that is associated with Real estate.
Growth in Mysore city is exponentially great, but commuting from Bangalore to Mysore was a bit of a problem, so the plan of Bangalore Mysore Expressway.
Bangalore Mysore Expressway was primarily planned for Constructing only 6 lanes, in addition to that keeping in mind the future, it was finally planned to construct 10 lanes.
This project was announced by Prime minister Narendra Modi back then in 2018 when he visited Mysore for the Assembly election.
It was announced on February 18 of 2018 by Prime minister Narendra Modi, approved by the Cabinet committee on economic affairs on February 19, 2018.
It was quite a fastidious process and the project started on March 20.
Two budget packages have allotted for the project
- Budget package – 3900 crore
- Budget package – 3500 crore
Thus making a total of projects worth 7400 crores.
Project funding wholly funded by the central government, no funds are allotted from the State government.
The central government funds the project using the Hybrid annuity model.
The hybrid annuity model works like this
- Land acquisition cost by the central government
- 40 percent of the construction cost will be bared by the central government
- 60 percent construction cost bared by the construction company
- The central government will fix the toll fee for the next 17.5 years.
Thus protecting the interest and win-win situations for both the construction company and the Government.
This model has avoided delays in projects, delays in compensating, totally going with the smooth flow.
There will be two tolls in the expressway
Usually, Bangalore to Mysore takes 3 hours of commute, after completion of expressway it is reduced to 1.5 hours, with the 6 lanes and 2 service roads provided each side making 10 lanes.
Certain bypass underways and brides constructed for smooth and no disturbed commute here are the details,
- Bidadi 7 kilometer
- Ramnagara and channapatna Combined bypass 22 Kilometers
- Maddur half elevated highway 3.5 kilometer and half bypass 3.5 kilometer
- Mandya 10 kilometer bypass
- Srirangapatna 7 kilometer bypass
- Totally there is a 51.5-kilometer bypass
- 69 no junction intersecting expressway for no distraction commute
- 50 underpasses
- Rest overpasses
Bangalore Mysore expressway will start from Kengeri and it will end at Naguvanahalli Mysore.
- Bypassing 6 cities
- 9 major bridges built
- 44 Minor bridges
- 4 road over bridges
- 49 underpasses
- The elevated corridor is 8 kilometers long.
These are the major highlights of this project you need to know, this project helps in a faster and safe commute from Bangalore to Mysore.
increasing in demand for Real estate projects and other development activities in the city contributing to overall development and infrastructures.
Project said to be completed by September 2022, will be inaugurated by Prime Minister Narendra Modi.
This project will be a major highlight for all the developmental activities in Mysore city, the second hot spot for investment demand will surely go up.
It will for sure cause a rate hike for residential projects, if you are planning to move or invest in Mysore this is the right time.
Check out our top articles to know more about property investment in Mysore.
Let me know what you think of this project, comment down below.