Real Estate Indore
Indore is indisputably known as the commercial capital of Madhya Pradesh. Being one of the fastest growing Tier-III cities of India, it is the single largest business centre of the state commanding most of the volumes in trade, industry and services, over other cities in Madhya Pradesh like Bhopal, Jabalpur and Gwalior.
The real estate in Indore is quite upbeat. Presence of manufacturing units of India’s leading companies like Hindustan Motors, Eicher Motors, Bajaj, Force-Mann, Metalman Group, Nicholas Piramal, Bridgestone, Larsen and Toubro, Pratibha Syntex and Kirloskar Brothers Limited at the adjoining industrial hub of Pithampura plays quite a significant role in economic prosperity of the city and subsequently the simmering business activities have been translating into booming property market in Indore.
A number of software companies like CSC, Impetus Infotech, InfoBeans have also set up their offices in Indore that has tremendously enhanced city's image as a preferred business destination. The electronics complex in the city houses offices of some of the top telecom and electronics companies of the country and the real estate scene in the area is likely to improve further once the undergoing projects of Special Economic Zone (SEZ) and Software Technology Park (STP) turn on ground.
The biggest commercial project in Indore is coming in the form of automobile testing track at Pithampur. With investment to the tune of Rs 5,000 crore, the track will be the largest in Asia. Not to mention that the economic activities in the city will improve drastically once the same gets ready. As for now, a number of national and international automobile giants have already expressed their interest to begin their operations in Pithampura.
Indore has also emerged up as education hub of the central India with Indian Institute of Management (IIM) leading the trail of colleges for professional studies.
You find a booming mall culture in Indore that is nearly absent in other parts of the state. With the success of Fortune Landmark, which is the first mall of the state, three other malls viz. Treasure Island, Mangal City and Orbit have also come up fast to catch up with the flourishing retail business in the city.
As the commercial real estate and retail sector go hand in hand, demand for commercial properties in Indore also has been going up quite significantly.
Real Estate Scenario
With a number of mega projects in the pipeline the real estate market in Indore is going under absolutely amazing phase. Both commercial and residential properties in Indore especially near the proposed SEZ and STP have emerged up as the most popular one.
The industry experts on the other end are of the view that the real estate boom in Indore is yet to arrive and it is the right time to buy property in Indore. From investment point of view as well, purchasing real estate in Indore is a pretty lucrative proposition.
With national real estate developers like Sahara and Vian building their residential townships in Indore, you can avail of housing high in terms of quality and lifestyle.
On the other end, office spaces in Indore in and around MG Road, Jawahar Marg, Siyaganj and Hamilton Road are the hottest one. Interestingly though industry experts find Indore markets being realistically priced and away from speculations.