With ever-mounting property rates and high operational costs in tier-1 cities, the retailers and small business owners are heading towards less expensive options. Cities like Indore, Ahmedabad, Chandigarh, and Lucknow carry good growth potential and are affordable for these retailers. Lower rental rates, less competition, and good returns are the prime reasons why majority of the Indian retail market is now shifting gears to smaller cities. Indore, a tier-II city, has caught the attention of both retailers as well as realty developers. In this article, we are going to see what are the things that go in favor of city's realty market.
Indore realestate is benefited by the presence of IT sector. Some global MNCs have set-ups here and these are expected to garner thousands of employment opportunities in future. With the coming of names like TCS and Infosys, the tendency of youngsters to migrate to other cities shall definitely slowdown. With more corporate companies looking forward to open their centers in Indore, city's realty market shall definitely get a big boost.
As it is a tier-2 city, the property rates across majority of localities are not explosively high like its developed counterparts like Delhi, Bangalore, Gurgaon. Real estate in Indore is a lucrative options for buyers who are bound by budgetary constraints. To see how its different localities fare in terms of prices, let's consider a two bed room apartment. Bicholi Mardana, Bengali Sqaure, AB Road, Khajrana road, Kanadiya Road, and Khandwa Road are some of the inexpensive localities: one can expect a 2 BHK apartment to cost below 15 lakh over these areas.
A 2 BHK real estate Indore property in areas like Bengali Square, Mahalaxmi Nagar, Old Palasia, Anoop Nagar. Telephone Nagar, and Nipania Road comes in 15-25k price bracket. Shree Nagar, Ring Road, Talawali Chanda, and New Palasia too offer houses in the same segment. These are the starting prices; the values on the higher side can go in crores. Localities like Tuko Ganj, Pipliya Kumar, Mansarower, Saikrpia Colony, Nipania, and Kanadiya Road offer two bedroom flats with cost in 45-55 lakh bracket. Manoramaganj, Saket, Vijay Nagar, and Anurag Nagar are amongst the posh localities that have rates comparable to Delhi and Mumbai.
For investors too, the city is a good option to roll out money. A number of localities like Khandwa Road, Nipania, Mahalaxmi Nagar, Super Corridor, Rau Road, and Vijay Nagar witnessed price appreciation in last quarter of 2013. If this trend continues, Indore real estate will attract more global investors.
Indore realestate is benefited by the presence of IT sector. Some global MNCs have set-ups here and these are expected to garner thousands of employment opportunities in future. With the coming of names like TCS and Infosys, the tendency of youngsters to migrate to other cities shall definitely slowdown. With more corporate companies looking forward to open their centers in Indore, city's realty market shall definitely get a big boost.
As it is a tier-2 city, the property rates across majority of localities are not explosively high like its developed counterparts like Delhi, Bangalore, Gurgaon. Real estate in Indore is a lucrative options for buyers who are bound by budgetary constraints. To see how its different localities fare in terms of prices, let's consider a two bed room apartment. Bicholi Mardana, Bengali Sqaure, AB Road, Khajrana road, Kanadiya Road, and Khandwa Road are some of the inexpensive localities: one can expect a 2 BHK apartment to cost below 15 lakh over these areas.
A 2 BHK real estate Indore property in areas like Bengali Square, Mahalaxmi Nagar, Old Palasia, Anoop Nagar. Telephone Nagar, and Nipania Road comes in 15-25k price bracket. Shree Nagar, Ring Road, Talawali Chanda, and New Palasia too offer houses in the same segment. These are the starting prices; the values on the higher side can go in crores. Localities like Tuko Ganj, Pipliya Kumar, Mansarower, Saikrpia Colony, Nipania, and Kanadiya Road offer two bedroom flats with cost in 45-55 lakh bracket. Manoramaganj, Saket, Vijay Nagar, and Anurag Nagar are amongst the posh localities that have rates comparable to Delhi and Mumbai.
For investors too, the city is a good option to roll out money. A number of localities like Khandwa Road, Nipania, Mahalaxmi Nagar, Super Corridor, Rau Road, and Vijay Nagar witnessed price appreciation in last quarter of 2013. If this trend continues, Indore real estate will attract more global investors.
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