Growing demand for commercial properties in Indore city: Development, investments and new opportunities.
Indore, a rapidly developing city and known for its cleanliness, business activities and development, has been witnessing a tremendous surge in demand for commercial properties in recent years. The city’s strong economic growth, smart city projects, and investor interest have made it a major real estate hub. Here’s a look at various aspects of the growing demand for commercial properties in Indore –
Indore’s rapidly growing commercial property demand not only reflects the economic strength of the city but also provides a golden opportunity for investors for the future. If the current trend continues, Indore can become one of the most prominent business hubs in the country in the coming years. With a rapidly growing population, new government schemes, and strong infrastructure, Indore’s commercial property sector is set to touch new heights continuously.
Why is the demand for commercial property increasing in Indore?
Economic progress and business expansion
Indore is making its mark on the business map of not only Madhya Pradesh but the entire country. The arrival of IT companies, startups, and various national and international businesses has fuelled the demand for commercial properties in the city.
Smart city projects and infrastructure development
Under the Smart City Mission, many big projects like roads, metro, high-tech office space, and industrial corridors are underway in Indore. These development works are not only improving the living conditions but also boosting business activities.
Attractive investment opportunities in real estate
The ever-increasing property values and rental rates in the city are making it an attractive location for investors. Many major developers are interested in bringing large commercial projects here, which will further develop the area in the coming years.
Expansion of business centres and industrial hubs
New business and industrial hubs are emerging in Indore in areas like Super Corridor, Pithampur, and Scheme 140. These areas are offering great opportunities for companies and startups, thereby increasing the demand for commercial properties.
Benefits of metro and better connectivity
The Indore Metro project and improved transport facilities have increased the demand for commercial properties even in remote areas. Businessmen are now willing to invest even in places that were earlier considered less developed.
New colonies and rising real estate guidelines
Recently 105 new colonies have been added to the real estate guidelines in Indore, increasing the availability of commercial properties and investment opportunities. Apart from this, property rates have increased in 469 locations, further strengthening the stability and prospects of the market.
Development of new commercial centres and malls
Due to the increasing consumer demand, many new malls, shopping complexes and business centers are being built in the city. These centers are attracting businessmen and investors, which is further increasing the demand for commercial properties. In the new trend, the demand for commercial co-working space has also increased a lot. There are many options for this in Indore city.
Government schemes and industry friendly policies
The concessions and favourable policies being given by the Madhya Pradesh government to industries and business institutions are also playing an important role in this growth. The new industrial policy and initiatives to promote startups are also increasing business activities. This is the reason why many national and international level companies are investing here.
New investment center:
Super Corridor is the new center of rapidly growing development and investment
The Super Corridor area in Indore is developing rapidly and the demand for residential and commercial properties is increasing here. Due to the cleanliness and modern infrastructure of the city, people are being attracted to invest and settle here. In the last financial year, the district’s revenue from the purchase and sale of property here has increased by more than 32%. The government and local administration are also focusing on the development of this area.
Expanding Smart Features
Infrastructure is being developed rapidly on the Super Corridor. A water tank, power sub-station and connecting road are being constructed by the Indore Development Authority (IDA) at a cost of Rs 160 crore. Apart from this, the metro project will also be implemented in the area soon, which will make transport facilities more accessible.
Investors’ first choice
Investors are increasingly getting attracted to this area. The outline of many big commercial and residential projects has been prepared and work has also started on some. Tenders are being invited for plots worth up to Rs 80 crore here, which shows the increasing demand for this area.
Major development tasks and features
Residential and commercial
Opportunity – Plots and luxury flats ranging from 1000 to 1200 sqft are available. Townships and high rise buildings are under construction.
Better connectivity- MR-5 road is being expanded. The metro project will improve connectivity between the airport and Vijay Nagar.
IT and Industrial
Growth- TCS, Infosys, Yash Technologies followed by L&T
also started work. Investments from fintech companies are increasing.
Startup and Education
Hub – Campuses of two national universities are being constructed. Establishment of a startup park is planned.
Health and Entertainment
New projects are being worked on for facilities and hospitals. Natural spots like Gommatgiri, Bijasan Tekri and Lotus Valley are becoming a centre of attraction.
Great opportunity for investment and development
The Super Corridor is rapidly emerging as a major development hub. The interest of the administration and investors is making it the new smart destination of Indore. Due to infrastructure, transportation, industrial and residential development, this area is becoming extremely attractive for investment.
