Mysore Madikeri Economic Corridor Expressway Project Update
Project Cost – 3883 Crores (NHAI Project)
Work commencement – June 2022
Total Road length – 93 KM between Mysore to Kushalnagar
Bypasses @ Mysuru City, Bilikere, Hunsur City, Periyapatna & Kushalnagar
As a result of this project, travel time between Bangalore to Madikeri will be reduced from 7 Hours to 3.5 Hours
Contrary to the expected downfall of real estate due to the pandemic, house prices have skyrocketed in 2020. The Government’s support for Businesses, like interest rate cuts, purchase tax reduction etc. have helped upsurge house purchases and increase demand. Now, people are panic-buying homes out of fear that they may run out.
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- Appliances used for heating should always be placed in the south-east of the room.
- Fridges should be placed in the northwest part of the room, while TV sets can go anywhere in the northeast part of the room.
- If placed in the kitchen, the dining table should be placed in the northwest section and placed in such a way that the seating owner or the eldest person faces the north or east and the guest faces south or west while dining.
- A bedroom is a place for rest and revitalization, and hence the location of the bed is important according to Vastu. It should be placed towards the southwestern part of the room but not in the southwest corner.
- While sleeping, one should keep one’s head towards the south for better sleep and health.
- Mirrors should not be put on the opposite side of beds in the study room or bedroom.
- They should only be placed on the north and east walls.
- The study table should be placed in the south-west of the room so that the person faces north or east while studying.
Wardrobe / Almirah:
- These should be set in the southwest of the room and if they hold valuables, then it is perfect to put them in the southwest part of the room.
- They should so placed such that they open towards the east or north.
- Furniture like sofas and chairs should be put in the south and western part of the living room.
- The chair on which the eldest person sits should face the south or west direction.
- Footwear shoe racks should never be stored in the southwest part of the main hall or verandah and in the bedroom.
- Never put shoes in the south-east, north, or east part of the house.
- Vastu rules say that cactus or related flora, bonsai trees, and red flowering plants should not be kept indoors.
- The north-east corner of the house should be without plants and pots should not be placed along the north and east walls.
Fish tank and fountain:
- These beautiful pieces should never be kept in the bedroom and study area.
Arts and Paintings:
- To keep the North East clean and light, Vastu suggests keeping that area free from paintings or anything else.
- War scenes, violence, nudity, evil and complex paintings should be avoided with painted colors.
- The idols of the gods should not be placed in the bedroom and the heavy idols should not be placed in the north-east corner of the room.
- Stuffed animals should not be kept anywhere in the house.
Home is where one spends maximum time and during the pandemic, as WORK FROM HOME (WFH) takes over, it is imperative that the above principles are followed to get a sense of peace and happiness.
Pandemic has accelerated sales of residential properties in smaller cities because some of these living spaces are available in developed and habituated townships. Demand for condos and integrated townships in Tier II cities has also seen a surge, with increased need of safer environment and amenities within gated communities.
Organisations are planning to continue work from home and policies like Atmanirbhar Bharat and Make in India will create opportunities in tier II & III cities.
Reverse migration is also likely to continue for some time so demand in these cities will increase. If you analyse residential sales from 2014 to 2019, tier I cities grew at 28%, but tier II grew faster at 51%.
Tier II and III cities have witnessed considerable rise in demand in the recent past, primarily due to accessible pricing, more space, better returns on investment and lower cost of acquisition, mostly for ready to move in units according to senior executive director, DLF Home Developers Ltd.
After Pandemic, there is a rise in trend among homebuyers to build a lifestyle away from the hustle of a metropolitan cities. People are buying well-developed plots and independent villas instead of houses in group housing societies or in high rise buildings.
State Bank of India chief general manager O P Mishra has assured the real estate industry and the builders’ fraternity of all possible support to address various issues concerning them at a meeting with the CCREDAI-Hyderabad.
Key points of the meeting were to:
- Strengthen the relationship between the bank and developers and to discuss issues relating to home loan sanctions, project tie-ups and project funding.
- Favour more meeting with builders and the industry at frequent intervals so that various aspects concerning them could be discussed and action initiated.
- Assurance that other issues which required the intervention of the centre would be taken up.
He said the main points arising out of the COVID-19 pandemic had been addressed to a large extent through relief measures like moratorium on EMIs, charging of simple interest during moratorium period and extending emergency line of credit to builders.
Greater Mysuru (Bruhat Mysuru Mahanagara Palike)
Great news for Namma Mysuru Residents. Mysore City Corporation (MCC) will soon be upgraded to Greater Mysuru (Bruhat Mysuru Mahanagara Palike).
The upgradation will either be based on the population or on other parameters as decided in the meeting with the local elected representatives & officials. Eight Gram Panchayats (GPs) have also qualification to be merged with the City Corporation.
Once upgraded, the basic facilities like water, roads, street lights etc will be provided / maintained by BMMP and mysore properties in the vicinity will be likely to go up.
In a significant change to the Karnataka Land Reforms Act, 1961, Governor Vajubhai R. Vala on 13/07/2020 signed the Karnataka Land Reforms (Amendment) Act, 2020, a month after the Karnataka Cabinet passed an ordinance making amendments to the Karnataka Land Reforms Act, 1961. Following the Governor’s consent, the State Government has notified the Amended Act in the Gazette notification.
Accordingly, the amendments –
- Allow Non-agriculturist to purchase agricultural Land (Farm land) in Karnataka. However, restrictions on purchase of irrigated land by non-agriculturist remain
- Removed the ceiling on income from non agricultural sources to buy agricultural land
- Also increased the ceiling on number of units of land a person/family can hold
Accordingly, Sections 63(A), 79(A), 79(B), 79(C) in the existing Karnataka Land Reforms Act, 1961, were repealed to enable these changes.
With these changes –
- Farmers are expected to get better prices for their land
- Organised farming will get a fillip
- Technology adoption & modernisation of agricultural practises is expected to increase
Reduce corruption & promote industries alike