Posted on 15 Nov 2022
The need to know: Should you invest in a city like Indore?
Indore has been one of the fastest developing smart cities in India. In a decade, it has seen tremendous growth in terms of the education sector, small and medium scale business, and export sector. Indore has also attracted big-scale investments from the education sector and manufacturing sector. Companies like TCS have opted to commence operations in Indore. Also reputed colleges like Nursee Munjee have opened branches in Indore.
There are many reasons due to which the future of real estate in Indore looks bright. Listed below are some important reasons:
1) Smart city: Indore was among the first cities to be included in the smart cities project. In terms of infrastructure development, Indore is witnessing tremendous growth. In the coming years, this trend will continue to grow.
2) Indore BRTS: The Indore Bus rapid transit system is a designated lane on the road for rapid movement of the buses. The system connects major parts of the cities and is expanding its reach.
3) Major infra development: The public places in Indore have seen significant improvement in the last five years. Major public attractions have been renovated and restructured to enable more tourism In the city. The scenario in the Indore real estate market has changed drastically over the past years with malls, shopping complexes, multiplexes, townships and industrial establishments being developed by various builders.
4) Increase in Migrant population: As with time Indore creates more job opportunities and better education options, people from the neighboring cities and states will opt to move to Indore, which in turn will increase the demand for residential property and real estate.
5) Development of the super corridor: The Super Corridor Indore runs 8 km from Airport Road to MR 10 with a proposed width of 600 m, excluding a 75 m wide road. The 2021 master plan permits 18 activities on the corridor, including corporate offices, malls, and multiplexes. Megaprojects, including a sports complex, a medical hub, and a convention center are proposed in the corridor. This is an attractive destination for real estate investment as in the foreseeable future, this will become a major main city destination
Update on the investment scenario:
Although the pandemic has disrupted the functioning of major sectors, real estate in Indore has another story. According to data, despite the pandemic, the property registrations in Indore were up by 6%. Property registrations during the 9-day Navratri festival 2020 year jumped by around 6 percent on a year-on-year basis led to an increase in sales of ready-to-move-in residential apartments and plots.
This paints a positive light on the bright future of the real estate industry in Indore. With so many major developments happening in and around Indore, it is safe to say that property investment in Indore is going to provide better returns.
If you are looking to invest in real estate in Indore, investment in the super corridor area is one of the best choices. To know more about the availability and rates, visit DCNPL Hills Vistaa- One of the best real estate project in Indore at Super Corridor, having 2,3,4 BHK luxurious flats/apartments & residential plots.
Your one-stop destination to explore more about the super corridor area.