MYSURU: Guess what's pushing up rentals and property prices in Mysuru? Yoga and medical tourism.
A few tony areas of the city predominantly identified with yoga learning and healthcare have reported a spurt in real-estate activities.
For over a decade now, upscale localities Gokulam, Lakshmipuram, Yadavagiri and Vijayanagara have been receiving hundreds of yoga enthusiasts from the foreign shores. As a direct result, rents here have been climbing up.
Similarly, residential layouts around the All India Institute of Speech and Hearing (AIISH) campus, too, have been hitting a new high every quarter. The campus is off Bogadi Road, southwest of the city. Parents and relatives of young patients typically stay for more than a year as treatment is for the long term. This has touched off a new rental matrix.
Not to be left behind, the Mysuru Urban Development Authority has raised the base auction price of premium corner and intermediate sites. During a recent auction, MUDA had quoted Rs 3,750 per square feet for a site in an area which sees transactions at less than a third of that rate.
Rentals of single-room houses, too, are costing a bomb. For instance, non-RCC and RCC houses in Gangothri Layout, Bogadi, T K Layout and Sri Rampura are charging Rs 2,500 to Rs 8,500.
Meenakshi, from Kalaburagi, is paying Rs 2,500 to Rs 4,000 in rent for a small accommodation in Janata Nagar for the past three years. She has brought her two hearing-impaired sons for treatment at AIISH.
Likewise, two Kerala families are paying Rs 8,000 rent for a house in Bogadi, close to the AIISH campus, for two years. Sarvamangala had to settle for a leased house far away as she couldn't afford high rates in the institute's vicinity. But that doesn't come cheap. She is shelling out Rs 32 in bus fare everyday for commuting from Srirampura to AIISH to bring her granddaughter for treatment.
Quoting owners, Reshma and Fousin, mothers of autism children, said rents are non-negotiable in most of the areas, though some houses lack individual water and electric connections.
People from across the country come to Mysuru's AIISH for speech therapy, audiology, physiotherapy, clinical psychology and special education.
AIISH information officer Keethi said the institute offers therapy to the hearing impaired, mentally retarded, autism and children with multiple disabilities at different levels. On an average, nearly 200 people visit the institute for therapy and 60 % are from Kerala. "We provide accommodation to attendants for two weeks. They must make their own arrangements after that," the officer said.
Mysore Realtors' Association honorary secretary M D Adhishsagar said west Mysuru is growing faster and the catalysts are industries, education and yoga institutes, health facilities and infrastructure.
Up, up and away
Rentals of houses built on 20x30ft sites in Nivedithanagara, Sharadevinagara, CFTRI Layout, Gayathripuram and Nazarbad cost Rs 4,000 to Rs 5,500. Rentals in upscale localities Gokulam, Yadavagiri, Lakshmipuram, Siddhartha Layout, Saraswahtipuram and Vijayanagara cost Rs 10,000 to Rs 25,000. Rentals of some of the furnished houses — with one, two or three bedrooms — cost from Rs 10,000 and Rs 50,000.