Indore for Lucrative Real Estate Opportunities

The recently concluded CW Design-Build Conclave and Awards in Indore brought together industry stakeholders to discuss key factors that are driving growth within the city’s real estate and infrastructure sectors.

Giving a property market snapshot from research conducted by Housing.com on the city of Indore, Pratap Padode, Editor-in-Chief, CONSTRUCTION WORLD, and Founder & President, FIRST Construction Council, said, “According to IRIS Index, a leading indicator of upcoming demand in 42 key cities of India, Indore has pipped other central Indian cities such as Bhopal, Varanasi, Meerut, Raipur, Nagpur, and Kanpur, especially in the last quarter.” Elaborating on the current demand, he said, “Thirty-seven per cent of the homebuyers in the city are looking for apartments, followed by villas. Plots and independent homes together take a 27 per cent share of total property searches and queries in the city. And independent floors are least searched for taking a marginal share of 3 per cent.” Highlighting the price bracket, he said that the majority (69 per cent) of the potential homebuyers in the city are searching for apartments and villas in the less than Rs 50 lakh price bracket, followed by Rs 50 lakh – Rs 1 crore, which accounts for 23 per cent share in the total search queries. Also, 8 per cent were for properties above Rs 1 crore.

So , where is the maximum search for properties in Indore? Padode had the answer and his list comprised cities including Talawali Chanda, Mahalakshmi Nagar, Lasudia Mori, Nipania, Vijay Nagar, BhicholiMardana, Sudama Nagar, Rajendra Nagar, Limbodi, and Rau.

Indore boasts of certain elements. Among India’s fastest-developing smart cities, it is also the cleanest city. Rather, Indore is the cleanest city in India for the sixth year in running.The processing of 1,900 tonnes of urban waste every day, which earns crores of rupees, also fuels its buses. What’s more, the city is developing a digital addressing system and is accelerating its drive against illegal structures. It is also promising to issue construction permits in 72 hours.

Shri Kamal Patel, Hon’ble Minister for Farmer Welfare & Agriculture Development, Ministry of Agriculture, Government of Madhya Pradesh,said at the recently concluded CW Design-Build Conclave and Awards in Indore,“Madhya Pradesh lies at the heart of India. Bhopal may be the political capital but in the case of trade, commerce, and cleanliness, Indore can be considered the capital. And today, the city of Indore has not only earned its name in India but the world over, for its cleanliness. As positioned centrally, there is great scope for any field or industry in this city.” He further elaborated on how there has been considerable growth across villages and smaller cities in the areas of roads, power, and water. And how the country has been progressing towards achieving the Atmanirbhar vision.”

Madhya Pradesh is a growing state, and Indore is a leading city within the state, said Shri Ramprakash Ahirwar, CEO, Indore Development Authority. “Indore Development Authority is working on seven town planning schemes. On a land spanning 13 hectares, we are offering housing or infrastructure such as flats or plots along with whatever is required for inclusive growth of the city, such as roads, and implementation of the master plan...