The tier II city of Indore is buzzing with real estate opportunities. The real estate in colonies like Aurobindo Hospital, Sukhilya, Indore-Ujjain 4-Lane Highway and MR10 could have made you richer had you invested in them a few months back. Properties here that were priced at around Rs. 18.5 Lac in October 2013 have now appreciated by Rs. 1.5-3.5 Lac, making them worth Rs. 20-22 Lac today. Investors still have an opportunity to profit from the appreciating property prices as they have a variety of investment options in the form of both residential and commercial projects in Indore.
The Realty
According to reports, the average value of a real estate unit in the city is about Rs. 20 Lac. The real estate prices here are affordable and the scope for appreciation is high. The investors seeking to park their money here are blessed to have affordable property values that are now accompanied by the optimism brought in after the metro plans were announced. The Super Corridor is another advantage that the city has in its favor.
Factors Affecting Indore’s Real Estate
The easy connectivity of the city is its trump card. Indore is well-linked to cities like Delhi, Mumbai, Bangalore and Pune as there are direct flights at short durations. It is equidistant from both New Delhi and Mumbai. Also, the location is accessible by rail and road networks. Its location is its biggest advantage and is pushing the development here, giving the city many advantages and driving its real estate towards further growth.
There are several upcoming commercial projects in Indore that are set to change the face of the city. Besides several existing mid-sized IT and ITeS companies, many major IT firms like Infosys and Tata Consultancy Services are setting up offices in the commercial districts of this city. The Super Corridor will also see several educational institutions, such as Narsee Monji Institute of Management Studies and Symbiosis, being constructed around it. The other proposals will include the setting up of tramway and mono rail projects.
There is excellent civic and social infrastructurein Indore, which ranks highly because of its ongoing as well as planned infrastructure projects. There is an improvement in the supply of electricity and water and the situation is likely to improve further. Moreover, the new commercial real estate projects along the Super Corridor in Indore will create over 80,000 new job opportunities. This certainly spells a bright future for this city.
Author bio: Devika Arora has been writing resourceful articles for the avid readers who wish to learn more about Indian real estate. The above article by Devika discusses about the forthcoming commercial projects in Indore. Ample research has been done in order to compile the given data and present the overview.
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