Signs of a construction boom

On Mysore's periphery, towards the ring road on any main road one can numerous see pole ads or small hoardings displaying stuff required for a building. Signs that the city has grown beyond the ring road.

A large number of layouts have come up or are being formed either by property developers or co-operative societies some 4-6 km from the city.

Iron and steel, cement, tiles, hardware, iron and forgings, ceramics and even solar water heaters, name anything you require, these pole ads guide you to the shop. It is not only the manufacturing firms, which have erected these signboards, their dealers and small shopowners too have put up signboards.

Damden Properties, the Rs 280-crore flagship of the Damden Group, which has taken up five residential projects for an outlay of Rs 180 crore, has erected a large number of pole ads.

Even banks have not failed to let go of the chance. A couple of banks and private financial institutions like City Financials have put up boards offering housing loans.

Many small shopkeepers, marketing these construction items, moonlight as real estate agents. When they see a new face visiting their area in a car or two-wheeler looking for a plot they approach them with details of land available for sale.

Almost all farmers in these areas have sold their lands. Those who sold their land in recent times have made very good money, while some who sold their lands a couple of years ago regret the missed opportunity.

Some who have made a good bargain have invested their money again in lands towards HD Kote, Hunsur or KR Nagar hoping that they will be able to sell those for a huge margin, says Some Gowda, an aged land-owner, now grazing sheep after selling his land for a cheap.

"No land is available here. All the lands have been sold. Even if some small areas are available, they are being quoted at Rs 40-50 lakh an acre," says Bollegowda.

However, a broker denies this and says the prices are in the range of Rs 30-35 lakh.