Indore: An Emerging Real Estate Market

Indore: An Emerging Real Estate Market

Indore, the fastest growing and most popular city of Madhya Pradesh. Indore has been voted as the “cleanest city of India” two years in a row. This city has become the most important investment destination of Centre India. Due to its rapid growth, Indore is included in the first list of smart cities under the “Smart cities Mission” to be developed as a smart city. It also comes under Tier 2 Cities in India. Indore has become one of the major business centers of India, also called the commercial capital of Madhya Pradesh. Indore has now become the major educational hub of the state that is the reason it is the first and the only City of India having “Indian Institute of Management” (IIM) and “Indian Institute of Technology” (IIT) together. Today Real Estate sector of Indore is growing very rapidly. It is the best investing time here, as every big giant of India eyeing towards Indore for investments.

Land Area and Population:-

Indore is spread over a ground area of just 523 square kilometers (523.0 km (201.93 sq mi) making Indore the most densely populated city of center India. As per the 2011 census, the population of Indore is 21, 70,295 approx. In 2018 it is forecasted to be around 3.8 million. It is the Malwa region of the state.

Why Invest In Indore:-

Indore has huge potential for future growth, as the city has the right combination of entrepreneurs, forward-thinking bureaucrats, supportive leadership and advanced-thinking people taking Indore on the right path of development.

• Development of IT sectors as the two IT-Parks has been developed.
• Establishment of Industrial and Pharma sector in Pithampur, Sanwer, and Dewas.
• Special Economic Zone (SEZ) for Cloth and Pharma industry.
• High Support of government at all levels whether it is at the local, state or national level.
• Huge Job opportunities at present and more in the future as the major corporate house like Infosys, TCS, Reliance, Patanjali etc are ready to start their operations.
• The Smart City project is taking shape swiftly and that will provide good amount opportunities in next two-three years in Real estate sector.
• Infrastructure and the quality of rural and urban area roads, highways has been improved a lot in last five years.
• Ahilya Path Project or BRTS Project (Bus Rapid Transit System) in the city has given an extra edge to the real estate market of Indore.
• A 12 kilometers long Super Corridor gives the further shape to the development of the city, famous for the astounding properties, location, nature, housing projects and the whole thing that strikes in your mind. It is the more appreciative project of IDA.
• Delhi-Mumbai Industrial Corridor (DMIC) is taking shape gradually and that will passes through the city Dhar, which is very close to Indore. This will further boost the property rates in Indore.
• Smooth Connectivity to other states and major cities of the country adds further benefits to this segment.
• Now Indore has the international connectivity too, recently started international flights from Indore, this will heighten the business here.

Major Areas of the City:-

Indore is appropriately framed into the residential and commercial areas. Here the major markets are laid around Rajwada area (it is the heart of Indore City).  The below list is the inclusive one here few major areas are covered into this.

A.B. Road	Race Course Road	Palasia	Saket
Rajwada	R.N.T Marg	Annapurna Road	Jail Road
Geeta Bhawan	South Tukoganj	Vijay Nagar	Dewas Naka
Lasudia	Mahalaxmi Nagar	Gumashta Nagar	Amitesh Nagar
Khajrana	By-pass Road	Ring Road	Rajendra Nagar
Kesar Bagh Road	Lokmanya Nagar	Bapat Square	Scheme no 71
Sapna Sangita Rd	Tower Square	Navlakha	Airport Road
Nipania	Bicholi Mardana	Mahalaxmi Nagar	Silicon City

Future is Bright:-

All these snowballing factors will make sure a hopeful opportunity for the overall economic growth of the city. Indore is an emerging Real estate market. Several projects are running simultaneously from residential to commercial, Malls, Hospitals, Industries, Hi-rises buildings etc. several projects from the government are also under the pipeline like Metro rail etc. all these ensure the promising future of the most advanced city of center India.