Indore is known to be the largest city of Madhya Pradesh. Situated on the Malwa Plateau, the city is about 190 kilometers away from the capital, Bhopal. Touted to be one of the fastest growing Tier II cities, the city witnesses a slew of developmental and construction activities ranging from commercial to residential projects. A number of reputed and giant real estate players are entering into the space with a number of new projects in Indore.
Another significant reason that has contributed in bringing the realty sector up the curve is the city’s excellent connectivity. The city is well connected to other big and developed cities such as Delhi, Mumbai, Bangalore and Pune through road, rail and air. Indore’s connectivity appears as the city’s trump card. Some of the arterial roads like the NH-3 (National Highway), NH-59 and the State Highway-27 are touted to be some of the best roads that boost the connectivity further and also cut down the travel time. The proposed monorail and tramway, once functional is envisaged to boost the connectivity further and decongest traffic. On the back of robust connectivity, many buyers are showcasing their interest to buy property in Indore.
With a good number of blue chip companies and multinational corporations entering into the space, the city is witnessing a massive industrialization. A good number of people migrate every year in search of better employment opportunities. It is a home to various acclaimed educational institutions and colleges that attracts a good number of students from different parts of India as well as abroad. The increasing number of footfall every year has led to increase in ing the demand of property with more people.
Indore stands vertically tall to be the commercial capital of Madhya Pradesh and is now witnessing stupendous of industrial boom. After the saturation of metro cities in India, the focus of all IT, ITes and other industries has shifted to tier-II cities. Having considered these factors, Indore is envisaged to be among the next sought after IT locations. It provides a slew of benefits.
(a) Easy availability of labor,
(b) Lower costs of land and real estate,
(c) Suitable business environment,
(d) Favorable physical and social infrastructure and
(e) High returns even on low investments.
All these factors have significantly contributed to spur the demand of the property with development a slew of new projects in Indore launched by the most reputed builders.
These factors impart an edge to the cities over other tier-II cities of India. Indore is also considered to be the powerhouse of Madhya Pradesh where State government has won heavy investments from major automobile, pharmaceutical and textile corporations. Further infrastructural developments were made in line with the strategy of bringing in major IT companies. From its nascent stages itself, IT and ITes sector have been spurting real estate growth in the city.
Considering the robust factors that has significantly led to increasing the demand of the property, a good number of reputed builders have entered into the market with a varietyslew of new projects in Indore that offers magnificent infrastructure, state of the art facilities and top notch amenities. It seems to be a good deal for the investors and end users as higher returns areis expected in near future.