Property in Indore
Indore is one of the rapidly developing Tier-II cities of Madhya Pradesh. It has a strong auto and pharma industry that influences the real estate growth and development of the region. It is the commercial capital of Madhya Pradesh and is famous for its traditional and cultural heritage. The region is catching the attention of several leading developers of the country who are coming with their landmark projects over here across varied price range and profile. Super Corridor, an upcoming area of the region has large tracts of land available owing to the presences of IT firms in the neighborhood.
Some of the few reasons that has made the city a favorable destination for home buyers and real estate investors are:
City of learning
Indore hosts several top educational institutions like Indian Institute of Technology (IIT, Indore), Institute of Engineering and Technology, Indian Institute of Management (IIM, Indore), Maharaja Ranjeet Singh College of Professional Studies, and Devi Ahilya Vishwavidyalaya, etc. The presence of these institutes have made Indore the educational hub of Central India and acts as a magnet attracting students from across the globe. This increasing population also results in an increase in housing demand in the city both for self-consumption or rental purposes. As a result, there is a spurt in the number of residential projects being constructed for the same.
A 'smart city' in the making
It is amongst the first 20 cities of the country that were included in the Prime Minister Mr. Narendra Modi’s Smart Cities Mission. Indore is proposed to developed as a smart city at an expected budget of Rs 7,940 crore and once it is done, the property prices over here shall increase remarkably due to the high demand and great infra-facilities. The city houses a plethora of affordable housing options that come packed with best-in-class amenities and civic and social infrastructure.
It is expected that IT giants like Infosys and TCS will soon set up their offices in Indore. Around 12 more companies are planning to establish their base over here. This will help in generating more job opportunities and thus will attract both student and working population to shift to this place for future growth prospects enhancing the need for Residential projects in Indore . The upcoming Indore Metro covering a distance of 107 kms shall enhance the connectivity of the place. The city will be the first place in the country to have driverless trains.
Indore is one of the biggest local economies of Central India and trading capital of Madhya Pradesh. It has an array of industries in every field namely RCC pipes and poles, textile, paper, oil seed extraction, straw board, electronics goods, and asbestos products. It is country’s largest trans-shipment centres for transporting trucks. Besides a good economy, it also has a good per-capita income which increases the potential of homebuyers to purchase a property.
Price trends: The property prices over here are comparatively reasonable and make it a lucrative investment destination.
Some of the leading properties are Denel Hills Vistaa, Sarthak Vihaar, Sakar Elite Apex, Satyamitra Rajlaxmi Nature and Shikhar Balaji Skyz.