With Indore being promoted as a top real estate investment hotspot among Tier-II cities, Interio Global shares some of the localities in the emerging city that can be considered from a long term investment perspective.
Indore has displayed tremendous 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. 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 that 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 the presence of IT majors such as Infosys and TCS that have recently set up their development centers 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 center will be coming up in the corridor. “The region offers a multitude of affordable properties within the Rs 50 lakh budget.
- 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.
- AB Bypass Road: Located away from the hustle and bustle of the city, the region is known for its lush 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 the 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.
- Rau Road: Located 13 km away from Indore city center, 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.