Having a roof overhead is a necessity for everyone. Owning a home is a dream always. A dream you start dreaming from the first time anyone draw a salary or income. There is so much planning needed for dream home. One starts thinking of the budget, the number of rooms, how a person would do up the rooms and what not! Amidst this, there has sprung a new-gen category who are much happier as long as they have a personal space to live in and would rather not take the financial burden that comes with owning a home.
Indore is one of the most populous cities of Madhya Pradesh state in India. Indore, India is described as the commercial capital of the state and is also an educational hub as having the famous IIM and IIT both together. It is one of the fastest developing cities of the country while having pharmaceutical and automobile industries. Therefore this tremendous growth in the industrial sector has influenced the real estate market in the city as well. There are plenty of options for the house for sale in Indore, India.
The city experienced a boom in the real estate sector between the years last decade. A number of projects were opened in the Super corridor, an upcoming area in Indore owing to the boom of the IT industry in its surroundings. There is a variety of housing property with a number of 2, 3 and 4 BHK apartments. Houses for sale in Indore, India is within the price range of Rs. 32 Lakhs and Rs. 1.2 Crores. Independent plots and villas are also available in this neat and clean city at prices starting from Rs. 15 lakhs onwards.
Why Indore is the favorite destination for NRI investment?
Many foreign Indian nationals are preferring to buy and invest in the properties in India to re-establish the lost connection between them and their own country. Also, investing in Indian properties is a cheap affair for NRI and it also helps them with a tremendous return on investment and rental income. NRIs are also able to enjoy the excellent tax redemption by investing in properties in India. A number of cities in India serve as real estate investment hubs for NRIs and Indore city is no exception in the list. NRI buyers are opting for the house for sale in Indore, India.
Indore is the preferred place for real estate sector:
Indore is growing to become the financial capital of Madhya Pradesh. It has been given a nickname as Small Bombay as the lifestyle and the quality of living of both the cities was almost similar.
It is the land of some of the renowned business people who established business empires in the city. Apart from being the commercial capital of the state, the city is also an educational hub boasting world-class institutions. As far as the infrastructure and connectivity features are concerned, the city has everything to make it one of the best places for real estate investment in India. Its real estate sector not only attracts Indian Nationals but also NRIs through its excellent return on investment figures.
Some reasons why one should opt for buying a property in Indore are as follows:
- Indore enjoys superior connectivity to other parts of the country through its strong rapid transit system.
- Indore is a smart city in making.
- Its 250 feet wide roads are also known as the super corridor connects the international airport with Major roads.
- The Government of Madhya Pradesh has constructed a new eight-lane road that connects Indore with the rest of the city.
- The city has a number of Special Economic Zones.
- The residential colonies in Indore, India like Vijay Nagar and Nirpaniya are the best in the country in terms of accommodation, accessibility, the standard of living, etc.
- Indore is in close proximity to Pithampur, which is the industrial capital of Madhya Pradesh.
- The metro rail project here is in its planning stage and Indore also has a well-connected airport.
Property Rates & Price Trends in Indore, India:
Property in Indore city has a variety of trends. The current price trends of Indore, India will show the overall guidelines for the real estate market. These trends will help the investors to know about the correct time to buy or sell properties in Indore, India. Currently, the price of properties in Indore starts from around Rs. 2 lacs with an average price of Rs. 63 lacs. Some points are:
- The price of properties in Indore starts from around Rs. 2 lacs.
- The average price of properties in Indore is Rs. 63 lacs.
- The most expensive property listed in Indore is priced at Rs. 46.00 crores.
- Number of localities in Indore showing the positive trend is more than 80.
- Numbers of localities in Indore showing a downward trend are 50
- The total number of properties listed in Indore are 5400.
Some cream locations for Property in Indore, India for housing property:
- Nath Mandir Road: It is one of the most important sources of spiritual awakening for the NathBhaktas.
- Shivaji Nagar: It is a prime locality in Indore, India.
- Khajuri Bazar: This place has many areas of interest that buyer must visit in Indore.
- Khandwa Road: There is Tricone City, as a residential township sprawling over 150 acres of lush green landscape, It is on the main Khandwa road.
- Vijay Nagar: It is a major residential area in Indore, Madhya Pradesh, India. It is developed by the Indore Development Authority.
- Chandra Nagar: It is a residential locality in the largest and commercial hub of Indore.
- South Tukoganj: It is a central hub in the city.
- Dhar Road: It offers a decent mix of budget and value for money properties in Indore.
- Kanchan Baug: This area is also another prime location in Indore, India.
- Rnt Marg: Rnt Marg area located in Indore, India with many options.
- Baxi Colony: This area is located in Indore city, India. In the Baxi colony, one old popular building Bapna Khoti is present which is built by king Bapna.