Property Investment in Indore
With Indore being touted as a top real estate investment hotspot among Tier II cities, Preferred Property shares some of the localities in the emerging city that can be considered from an investment perspective. Read on to know more.
Indore has displayed immense potential in terms of return on investment owing to the Metro project, and the presence of IT companies. “However, the market sentiments continue to be subdued due to developers facing a liquidity crunch and oversupply of housing units in residential as well as commercial projects”, shares Ashish Jerath, Head-Sales, Emaar MGF Land Ltd. However, the city’s selection in Smart Cities mission under which Indore will receive an infrastructure boost of Rs 5,000 crore is likely to have a positive boomerang effect on the real estate market in the region, he adds.
Many impending commercial and infrastructure projects are expected to be completed which will push up the residential demand, thus reviving the realty landscape in the city. Here are some of the localities that have emerged to become the top investment bets in Indore:
- Super Corridor: It is an 8km long 250ft wide road which connects Airport with Major Road (MR 10). Experts have touted the region as the top investment destination owing to the availability of large tracts of land and presence of IT majors such as Infosys and TCS that have recently set up their development centres here. Areas along the corridor are witnessing large-scale residential township developments. According to Master Plan 2021, there will be corporate offices, malls and multiplex sports complex, a medical hub and a convention centre will be coming up in the corridor. “The region offers a multitude of affordable properties within Rs 50 lakh budget with developers such as SEAC builders, Suyash Group among others present in the area,” shares Monika Solanki, Partner, GoldenInnovation.
- Nipania: Located in the heart of the city, Nipania is an upcoming posh locality and has been touted as New Indore. In terms of connectivity, it is well connected with AB Road, MR-10, AB Bypass road, Vijay Nagar and MR 11 road from all the sides. The region offers many high-rises as well as independent villas within Rs 60 lakh. Developers such as BCM Group and Balaji Group are present in the region.
- AB Bypass Road: Located away from the hustle and bustle of the city, the region is known for its plush green environment and contemporary lifestyle. The region is complete in terms of social infrastructure with the presence of reputed schools, hospitals, and entertainment zones. The region offers plenty of properties within Rs 60 lakh with the presence of many renowned developers such as DLF and Omaxe among others. In addition, there are ample of residential plots available for investment.
- Vijay Nagar: Located in Eastern part of Indore, Vijay Nagar is the first developed area in the city by Indore Development Authority. This led to the suburb witnessing a massive spurt in population and demand for housing in the 1990s. “The locality is well connected by MR-9, MR-10, and Eastern Ring Road. Further, the introduction of Indore BRTS has fuelled the realty market in the region resulting in a spurt in residential development”, Solanki adds. The region offers many residential projects within Rs 60 lakh with the presence of developers such as IBD Universal and Man Developments.
- Rau Road: Located 13 km away from Indore city centre, Rau Road is an upcoming prime residential locality. The region is well connected with Mhow, Pithampur, Rajendra Nagar Railway Station, IIM Indore and proposed Economic Corridor which will connect Airport and Pithampur. The area is preferred by working professionals having their offices in Pithampur. Developers such as Amrapali, Unnati Group of companies have their residential projects with properties available within Rs 60 lakh.
| Locality | Capital rates (Rs per sq ft) |
| Super Corridor | Rs 2,000-2,300 |
| Nipania | Rs 2,800-3,200 |
| AB Bypass Road | Rs 2,000-2,500 |
| Vijay Nagar | Rs 2,300-2,900 |
| Rau Road | Rs 1,700-1,900 |
Preferred Property
Apart from these, investors can also consider other localities such as Kanadia Road (Rs 2,300-2,600 per sq ft), Sanchar Nagar Extension (Rs 2,000-2,300 per sq ft), Khandwa Road (Rs 1,700-1,900 per sq ft) and Bicholi Mardana (Rs 1,800-Rs 2,100) for residential investment purpose. Those interested in investing in commercial properties can consider Bicholi Mardana (Rs 2,500-2,800 per sq ft) or prime areas such as Scheme No 54 (Rs 6,000-Rs 7,000) and M.G. Road (Rs 5,000-6,000 per sqft).