Indore Property Market Information

Indore is one of the largest cities in Madhya Pradesh. The city is an industrial hub and it has more than 1600 medium and large scale industries operating at the moment; no wonder it is well known for all sort of commercial activities due to wide exposure the city has gained.

Indore has become the commercial capital of MP, and now, the city is amidst quite heavy industrial boom. The focus of all information technology firms, after their establishment in the metro cities, is on Tier-II cities. IT firms are looking at Indore as the Tier–II preferred location since the city is replete with workforce, offers low property prices, has good availability of land, possesses the appropriate business environment, favourable social and physical infrastructure, and promises high prospects of good returns on short investments.

Recent Property Developments in Indore

Reputed builders operating in M.P. are currently focusing more on Indore to invest their funds. They have cheap labour and abundant land to make good investments that are sure to fetch high returns, making Indore a lucrative investment option today.

According to a recent study, real estate development has influenced the IT development directly with respect to economical as well as real estate growth, and the trend holds perfectly true in case of the Indore real estate segment.

Residential Properties Prices in Indore

Demand for apartments for sale, residential spaces, and residential lands have been rising with an increase in immigrant population. When we look at the statistics of the last 10 years, population of Indore has almost doubled, and there is a need for almost 1 lakh residential units in the city. Consequently, the demand is on the higher side, and the ratio of availability to demand isn’t too high, unlike the situation in metropolitan cities such as Delhi, Mumbai and Bangalore.

The prices of residential flats are quite affordable at the moment; a 870 sq. ft. residential flat in Khandwa Road will cost you less than Rs. 15 lakhs. A 650 sq. ft. 1 BHK apartment around A B Road, Indore costs you somewhere around Rs. 10 Lakhs. A 1440 sq. ft. flat around AB road, Indore, costs nearly INR 38 Lakhs. As you move towards Khajrani, the price rises to about Rs. 25 lakhs for a 1100 sq. ft. 2BHK apartment.

Commercial Properties Prices in Indore

Prices of commercial properties in Indore are rising with the increase in companies, and hence, in turn, the demand. Commercial property in the prime location of Indore, measuring 800 sq. ft., can cost you about Rs. 21,00,000. Small office spaces in Indore measuring 400 sq. ft. cost about Rs. 12-14 lakhs.

The rent of an office space measuring 375-400 square feet in a prime location is around Rs. 10,500; so you can invest in a property and be rest assured of good rental income right away. Even if you purchase it by availing a loan, you can cover up the monthly EMI directly from the rent, and the initial down payment would be the only contribution needed from your end.

There are many popular builders and developers in Indore, like Raheja, Omaxe, Unitech, Parsvnath, Ansal, and there is good enough inflow of funds from the investors which has led to the sudden avalanche in property rates.

Upcoming Projects in Indore

The State government of Madhya Pradesh is investing more on pharmaceutical, automobile and textile corporations. The city is now experiencing IT growth, and soon you can expect to see major IT companies entering Indore.

The state government has declared a total budget of INR. 5,000 crores to build the largest auto testing track in the country for groundbreaking R&D. This straight away implies more employment opportunities as well as an increase in housing needs. The Government has also allocated 2,000 acres land for building IT SEZ near international airport, which would be the future of upcoming developments in the Indore property markets.

Potential growth of IT sector has increased the value of residential properties in Indore. The city has the underlying potential to feature amongst the top growing cosmopolitan city in the country, and even a world class commercial city some day soon. So, invest wisely, and enjoy great returns in the longer run.