Indore is creating a new identity of Tier 2 cities of India. This city, which has achieved the distinction of becoming the number one smart city of the country for the seventh time in a row in cleanliness, is now catching up with the future with the arrival of the metro. The sound of metro trains has now started resonating above the roads of Indore, which is a living proof of the strengthening connectivity and rapidly developing infrastructure of this city. Interestingly, despite all these state-of-the-art facilities, the property rates here are still quite affordable compared to the tier one cities of the country, which is why Indore promises a safe and long-term advantage for investors today.
India is currently divided into 28 states and 8 union territories. There are a total of more than 7,000 cities and towns across the country, which include urban areas of different categories. But out of these thousands of cities, only 23 cities have metro train service either operational or under construction. Indore is at number 18 in this list.
Metro gave new wings to Indore’s speed
This year, Metro train service was launched in Indore. In the initial phase, the Metro line has started operating from Gandhinagar to TCS Square on the Super Corridor. In future, the Indore Metro network will be more than 31 kilometers long, which will connect almost every major part of the city. The arrival of Metro has not only made transportation convenient for the general public, but has also given a new flight to the real estate sector, hotel industry, retail business and startups.
Golden opportunity in real estate
Indore’s real estate sector has been showing a consistent growth of 10-12% annually for the last few years. New projects are constantly being built in areas like Super Corridor, Scheme 78, Bypass Road, Rau-Bypass, MR 10 and Vijay Nagar. The prices of 3 BHK flats here are in the range of 60-80 lakhs on an average, whereas the same flats cost from 1.5 crores to 3 crores in tier one cities like Mumbai, Delhi, Pune or Bengaluru. This is the golden time for real estate where even a middle class family can easily buy their own house.
Infrastructure has raised Indore’s status
Indore’s infrastructure has been touching sky-high heights in the last decade. Schemes like super corridor, ring road, four-lane and six-lane roads, new clusters, hi-tech industrial parks and IT hubs are making it stand in the league of developed cities of the country. International connectivity from Indore airport to Dubai and Singapore is also giving this city recognition at the global level. Indore is now being recognized as India’s emerging smart city not only in the country but also abroad.
Why Indore?
There are only 23 cities in the country where metro train facility is available, now Indore is also included in them.
Business friendly environment and immense opportunities for youth
Indore has also made its mark as an MSME sector, IT companies, startups and education hub in the last few years. Campuses of IT companies like TCS, Infosys, Brilliant Convention Center, educational institutions like IIM, IIT, AIIMS and DAVV are present here. The calm, safe and organized life here makes Indore suitable for both youth and senior citizens. Health facilities are also constantly improving – large multispecialty hospitals like Aurobindo, Choithram, Bombay Hospital are also making this area attractive for health tourism.
Indore’s special identity due to cleanliness
Securing the first position in the cleanliness survey for the seventh time in a row is a big proof of the administrative capability, civic awareness and systematic development of this city. This clean, well-planned and green environment further strengthens the trust of investors.
Ideal time to invest
Today, when property rates in many big cities of the country are going out of the reach of investors, this is the best time to invest in an emerging city like Indore. Metro, global connectivity, educational institutions, medical facilities, IT hub and systematic infrastructure, all these factors together are preparing to make Indore the next economic engine of India. Indore is becoming a rapidly emerging economic center not only of Madhya Pradesh but of the entire country. With the start of the metro, this city has set the track for development for the next decade.
Indore is the best
Best time to buy property
When investment opportunities are becoming limited and risky in the top metro cities of the country, Indore has
• Stable real estate rates
• Constantly increasing demand
• Huge investment in infrastructure
• Increasing corporate presence
• Global connectivity
• Long-term and secure returns on investment
Indore real estate growth file
• Indore’s real estate sector has shown great stability even after the pandemic. When property rates in the top metro cities of the country have challenged the reach of the common middle class, Indore still remains relatively accessible.
• Average annual growth 10-12% per annum
• 3 BHK apartment price range – 60-80 lakhs
• Premium growth in locations close to metro
• Scheme 78, Super Corridor, MR 10, Scheme 140, Rau-Bypass become hot locations
Indore is the first choice of startups
• Operation centers of big IT companies like TCS, Infosys
• Rapid development of MSME industrial cluster
• Major educational institutions like IIM, IIT, AIIMS, DAVV
• Global level event venues like Brilliant Convention Center
• Favorable environment for startups and availability of talented youth
Cleanliness and planned development
• Cleanest city of the country for 7 consecutive times
• Consistently leading in smart city rankings
• Excellent waste management, dry waste plant, bio methanation unit, green transport system
Source- Dainik Bhaskar
