Bhopal, the capital city of Indian state of Madhya Pradesh, is regarded as one of the greenest cities of India. Despite of all industrialization and developments, the city has maintained a charm. Dominating lakes with their shores standing like silent guards testify growth of the city. Bhopal is divided into two parts; old city and new city. Old city still has an ancient touch of narrow lanes and crammed markets, whereas the new city displays a planned city with streamlined modern edifices, broad avenues and exquisitely laid out parks and gardens.
Development and industrialization has made Bhopal an extremely attractive city. Rapidly emerging real estate Bhopal brings in a range of properties for investors and buyers. Market has a lot to offer to its buyers.
Bhopal is witnessing increasing price rates and is one of the top cities with good real estate development. Bhopal has seen interest from a large number of industries and NRIs to invest in the property. It offers good return on investments and in the last 7-8 years, some parts of the city have offered about 11% return. Growing city now also offers an increasing number of shopping malls, hospitals and other necessities.Read More
Some of the trending popular localities for sale/purchase in Bhopal are:
Some of the trending popular localities for rental in Bhopal are:
Bhopal is also witnessing a number of IT developments along with commercial developments that is moving property rates in an upward direction. These developments along with a positive impact on property also help economy of the state to rise. The presence of BHEL (Bharat Heavy Electronics Limited) is one of the dominating factors that has a strong impact on the real estate of Bhopal.
Bhopal offers a number of properties depending on demand, purpose and budget. Residential apartments, villas, small and big commercial spaces, the city has variety to offer to buyers. Property rates in some parts of the city are high but are not saturated, so types of properties are available as per demand of buyers. Bhopal with all the rapid developments is turning the slow paced lifestyle into the metropolitan culture.
Residential property in Bhopal can be divided into three broad categories;
Newly developed areas in and around Bhopal include:
Bhopal has a strategic location and hence attracts several government and semi-government agencies. Areas like area hills, MP Nagar and TT Nagar have a number of organizations in their vicinity. Areas like Bairagarh and MP Nagar have a number of properties for lease. Some of the localities in Bhopal have commercial developments like Metro Plaza and Centre Point, offering commercial shops on rent or sale.
Upcoming developments in IT field are also a booster for the commercial real estate in Bhopal. Everyday thousands of properties are being listed online for buy, sale and rental purpose.
City is home to industries like electrical goods, medicinal cotton, jewellery and chemicals. Other dominating industries impacting the economy of the city include flour milling and cotton, cloth weaving and painting, making sealing wax, match and sports equipment. Handicrafts is also one of the important businesses.
Presence of big names like Bhaskar Group and BHEL also impacts the economy of the city in a positive way. Development of IT/ITES parks that is or would be home to a number of IT companies adding to the industrial developments of the city. This will certainly take Bhopal property market to heights.
Bhopal real estate is also booming because of the city’s decent infrastructure. With times it is developing to keep the pace with metropolitan cities. It has a good connectivity to the metros through rail, bus and air services. City is also witnessing a number of infrastructure developments for inter-city and intra-city connections, there by adding to the values of real estate in Bhopal.