Real Estate in Indore : an overview

Get Smart Investing in a Real Estate Property in Indore’s Rising Market

Amidst the hullaballoo that the metropolitan cities create and the huge amount of attention that they get, Indore might be a little understated but not unmentionable. After all, the city is an integral part of the state of Madhya Pradesh (MP), which is certainly a significant part of our country, both area and value wise. This city is generally known for its history, delicacies and for being the commercial capital of MP. With the rise in economy and the simultaneous expansion of properties in various regions countrywide, Indore real estate could not remain behind and is making some unexpectedly great improvements.

Get Smart Investing in a Real Estate Property in Indore’s Rising Market

Amidst the hullaballoo that the metropolitan cities create and the huge amount of attention that they get, Indore might be a little understated but not unmentionable. After all, the city is an integral part of the state of Madhya Pradesh (MP), which is certainly a significant part of our country, both area and value wise. This city is generally known for its history, delicacies and for being the commercial capital of MP. With the rise in economy and the simultaneous expansion of properties in various regions countrywide, Indore real estate could not remain behind and is making some unexpectedly great improvements.

The economy of Madhya Pradesh itself is matter of important discussion. The state, which was once disregarded for being Sick, incorporated a slew of measures and then went on to become one of the highest GDP earning states. Not only this, it now stands as the second, in terms of preferred investment destination by the big corporate houses, after Gujarat. This has been possible due to consistent development in state’s infrastructure, medical and tourism noticed after 2005. Positively affected by these advancements, an unprecedented growth started taking place in the sector of real estate properties in Indore along with Textile and Trading that dominated its business scene since long. The commercial hub of MP was even ranked 8th in real estate market survey in 2015 among others. This rating was done on the basis of price, supply, highest sales, inventory, absorption and new project launches.

Talking about the new projects in Indore, major property players like DLF, Kalani, Apollo, Dainik Bhaskar, Mirchandani, Parsvnath, Ansal, Sahara, etc. have already put their high stakes in the real estate market.It is not surprising that the tier-2 city witnessed greater commercial success than Bhopal, the capital city of MP. The financial center of the state has pharmaceutical, software, automobile apart from the textile, real estate and trading as its major business sectors. It is enclosed by the industrial belts of Pithampur (called “the Detroit of India”), SEZ, Sanwer, etc. which comprise of many large medium and small-scale industrial units. Moreover, it plays as a link in Delhi-Mumbai industrial corridor, which has helped in its industrial development.

A large section of the populous city belongs to the students, since Indore has a number of prestigious educational institutes. Since many students are non-dwellers, this is one factor that has increased the demand of rental properties in Indore. The city is also the base which connects various tourist places pilgrimage and non-pilgrimage like Ujjain, Omkareshwar, Mandu, Maheshwar, Bagh caves, etc. In and around the city, there are many lovely attractions for tourists like Rajwada Palace, Lal Bagh Palace, Kanch Mandir, Pipliyapala Regional Park, Ralamandal Wildlife Sanctuary, Patalpani waterfalls, Central Museum, etc. A yummier aspect of Indore is its large production of Namkeen or gram flour snacks, which are available in varieties.

The residential properties in this commercial capital initiated with spread development, i.e. building of bungalows and gradually the high risers started making their presence felt. A period of stagnancy has been seen in the real estate sector of this city, however, that is just a phase and the acceleration is expected to overtake soon with many new investments and opportunities coming up. MP being working on low margin, the prices of the properties on sale here are comparatively lower than the bigger cities. Also, the purchasing capacity of the people here has improved and that may be an indication of a future augmented business. Given that there are so many congenial factors, it would be quite a wise step to press the buy button for apartment for sale in Indore.

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