Mangalore's Real Estate Market: A Guide for New Entrants

Mangalore, also known as the Gateway of Karnataka, is one of the fastest-growing cities in India. Situated on the southwestern coast, Mangalore offers an abundance of opportunities for the real estate industry. The real estate market in Mangalore has been thriving for the past few years and has attracted many investors both from the state and outside. The recent development in infrastructure has led to the growth of the real estate sector in this coastal city.

The real estate market in Mangalore is diverse and caters to different types of buyers, whether it be commercial, residential or industrial. The city houses some of the most renowned schools, universities, hospitals and shopping centers, making it an ideal location for buyers who are looking for a comfortable and convenient lifestyle. The presence of the Mangalore International Airport has added to the city's accessibility, making it attractive for the IT industry as well.

The prices of residential properties in some of the prominent areas of Mangalore such as Bejai, Kankanady, Hampankatta have been consistently increasing over the past few years. The average price of a residential property in Mangalore varies depending on the locality and the amenities that come with the property.

From an investor's perspective, buying a property in Mangalore is a wise investment option. The increasing demand for commercial properties such as office spaces, shopping malls, and multiplexes has opened up a plethora of opportunities for real estate investors. The IT sector in Mangalore has been on the rise, and this has spurred the demand for office spaces in the city.

On the legal front, buying a property in Mangalore is not a complex process. However, it is important to note that the state government has implemented strict due diligence processes to safeguard the buyers' interests. The implementation of the Real Estate (Regulation and Development) Act (RERA) in 2017 has further streamlined the real estate sector in Mangalore.

One of the key advantages of investing in the real estate market in Mangalore is that the city offers a lower cost of living compared to other metropolitan cities in India. This factor, coupled with the city's beautiful coastal landscape, makes it an ideal location for retirement homes and resorts.

The real estate market in Mangalore has been growing rapidly, and it is expected to continue its upward trend. The city's strategic location and infrastructure development have made it an attractive investment destination for real estate investors. The government's initiatives to provide affordable housing and the recent reduction in stamp duty charges have further propelled the real estate sector in Mangalore.

To conclude, the real estate market in Mangalore offers a diverse range of investment options for new entrants. It is important for buyers to do their due diligence and research before investing in the city's real estate market. With the right approach, investing in Mangalore's real estate market can prove to be a lucrative venture in the long run.