Madhya Pradesh's business powerhouse was initially used by tourists as the gateway to Omakareshwar, Maheshwar, or Mandu. The Holkar dynasty left behind some of the finest architecture structures including minute cafes, ancient commercial complexes, and residential buildings. This beautiful city has a gigantic industrial base including workstations from finance to B-pharma, information technology, finance companies along with renowned educational institutions- both engineering and vocational colleges. This amalgamation of the employment and education sector has positively impacted real estate Indore, making it an investors' paradise to earn substantial returns on their investments.
Moreover, the commercial capital of the state - Indore has been placed 8th in the real estate market in terms of sales, price, supply, absorption, inventory and new launch trends. Read More
Let's explore what it takes to invest in a property in Indore and the factors that have led to an escalation of the property values.
Indore real estate property
Real estate Indore has been one of the major upcoming markets in India. Factors like presence of IT majors, development in the connectivity and infrastructure, safety, uninterrupted water supply, great electric source, modern architecture, improved socio-economic conditions, rapid urbanization, availability of home loans and faster approvals, and presence of properties in a wide price range has gained the attention of developers, investors and buyers alike. Over the years the city has witnessed a high volume of migration, escalating the demand for different types of residential properties- affordable apartments, builder floors, luxury houses, and independent villas. There are plenty of residential properties in Indore available for investment opportunities, which are equally good for developers, investors, and end users. This has created interest among the developer's to scout for a land parcel and launch their ambitious residential projects, creating a buzz in real estate of Indore.
Some of the residential places that are known for outstanding and high - tech residential projects are:
Real Estate Scenario for rent in Indore
Market for rental property in Indore is expanding and seems extremely promising as compared to its neighboring cities. The reason behind the progress in the rental real estate in Indore are low investment rates, better employment and education opportunity, rental income as a source of income, affordable rental rates, and easy access to semi-furnished, fully furnished apartments, PG, and independent flats.
Indore is a commercial center for goods and services which have attracted migrants from different states of India. The city has GDP of $14,000,000,000 and regularly hosts Global Investors' Summit which attracts investors from several countries. This influx of rapid urbanization and globalization has uplifted the real estate in this city.
Indore houses a wide range of industries and manufacturing units which vary from IT/ITEs to Finance companies, BPO, pharmaceuticals to textile industries to cement factories to the motor manufacturing and lots more. The presence of these companies has positively impacted city's employment rate leading to an escalation of demand and property rates in Indore. An inflow of cash in the city's realty segment results in the overall development of the city.
With ongoing infra upgrades, the Indore real estate is expected to witness a rise in the property values along with the construction of many residential and commercial units. As a result, all developers, end users, and investors will benefit in the near future.
Some of the infrastructure facilities available in the city includes:-
These abovementioned facilities have increased the livability quotient in the city, which has led to an upsurge in the sales of residential complexes.
Connectivity plays a major role in making the investment decision in the Indore property sector. Good inter-city connectivity benefits both developers and end users alike and as a result, State Government has made multiple efforts to make it more convenient for the residents to enjoy a hassle free commute within and to city's neighboring areas. Indore has a robust road structure and is connected to other parts of the city through national and state highways.
The major national highways passing through the city are:-
The important regional highways which have reduced the traffic related issues to a great extent are:-
These connectivity benefits have helped the Indore property market prosper.
Another interesting thing that has worked in the favor of Indore properties and attracts people from nearby areas is city's connectivity via various modes of public transportation including local transport, railways, and airways.
The city has a well-developed transport system which has made it easier for the residents to travel to the desired destinations.
• Indore City Bus – Atal Indore City Transport Services Limited, a PPP scheme operates buses and radio taxis in the city. These city buses operate on 36 routes with over 170 bus stop stations. These buses are also color-coded as per their set routes.
• Indore BRTS (iBUS) - Indore BRTS is a bus rapid transit system offering both air –conditioned and non-air conditioned services. Some of these buses are technology advanced and are equipped with GPS and IVR services.
• Indore Magic – Indore Auto Rickshaw is a magic service for small distance routes. Over five lakh people daily travel within the city.
The Indore Junction comes under the Ratlam Division of the Western Railways. The city's railway station is an A-1 grade railway station with a revenue of more than Rs. 50 crore. Except for the main junction – Indore Junction- the city has seven other railway stations including Lakshmi Bai Nagar, Rau, Saify Nagar, Lokmanya Nagar, Rajendra Nagar, Manglia Gaon, Mhow, Patalpani, among others.
Indore is served by Devi Ahilyabai Holkar Airport- located about 8 kilometers from the city. The airport serves a hub for international cargo and is the busiest airport in the states of Madhya Pradesh and Chhattisgarh.