Known as the city of Holkars, Indore got its name from the renowned Indreshwar temple. Despite being located 150Km far from the capital, Indore’s realty market has gained a major limelight in the past few years due to the constant industrial boom and improving connectivity with the other parts of the country. The city offers a wide range of housing and commercial property options to the investors at all the budgets. What follows are some of the reasons that made Indore a hot destination for the property investors situated countywide.
Here, have a look.
Expanding Commercial Belt and Its Impact on City’s Real Estate
The growing industrial corridors have had a great impact on the prices of the city’s real estate in last few years. The expanding commercial belt that covers the areas like Napaina, Super Corridor, Vijay Nagar, MG Road, Aurobindo Hospital, and Indore-Ujjain Highway has witnessed a drastic development. It is being anticipated that the further development will bring along a 20% price appreciation in the property landscape.
Indore offers strong connectivity to big cities like Bangalore, Delhi, Pune, Mumbai, and Agra through many arterial roads like National Highway 3, National Highway 59, and State Highway 27, etc. Also, the upcoming monorail project and the tramway project are triggering the real estate developers to invest into big tracts of land in the proximity of these areas.
Localities Developing At A Lighting Pace
Localities like Bicholi Mardana, Indra Puri, MG Road, Airport Nagar, and Vishnu Puri are developing at a lighting pace and are offering buyers a wide range of affordable flats in the range of INR 2,600 and INR 3,200/ ft2. For now, the overall prices seem quite affordable compared to the other localities in the city; however, the cost majorly depends on the amenities that the developer is offering to the buyers.
The 2021 master plan allows 18 activities along the super corridor in Indore which includes the construction of malls, multiplexes, commercial spaces, and apartments. Apart from that, the plan also involves the construction of mega projects like a sports complex, convention center, and a medical hum in the super corridor.
Projects To Consider In Indore
|Name Of The Project||Status Of the Project||Place||Property rate (*)|
|Sarthak Galaxy||Ready To Move||Rau, Indore||Rs. 11.52 Lac – Rs. 39.87 Lac|
|Vastu Siddhanta Niketan||Ready To Move||Supper Corridor||Rs. 24.49 Lac- Rs. 92 Lac|
|Dcnpl Vista||Possession in June 2016||Super Corridor||Rs. 32.13 Lac- Rs. 64.26 Lac|
|Apollo DB City, Nipania Indore||Ready To Move||Nipania||Rs. 20.7 Lac- Rs. 1.81 Crore|
|Silver Springs||Ready To Move||AB Bypass road||Rs. 22 Lac- Rs. 1.25 Crore|
|M Chugh Grand Exotica||Ready to move||Bicholi Mardana||Rs. 59.94 Lac- Rs. 1.85 Crore|
|Palazzo Park Residencies||Nov 2016||Nipania||Rs. 31.2 Lac- Rs. 58 Lac|
Indore is perhaps one of the most promising destinations if you are low on budget. There are plenty of options that are available for the investors as well as the end-users in all budget ranges. All you have to do is get associated with the right agent and your dream property isn’t far away.