Cited to be one of the most fastest growing Tier II cities- Indore is the largest city of Madhya Pradesh.
Situated on the Malwa Plateau, the city is about 190 kilometers away from the capital, Bhopal.
The city is currently brimming with a number of construction activities ranging from commercial to residential projects.
Local and national real estate players are now developing the city's skyline by creating a number of flats in Indore.
The city is currently witnessing a major realty boom thanks to the insurgence of several industries.
Indore is well networked to the Maharashtra border and many renowned industries have their base on this stretch.
The growth of the industrial sector has had a major impact on the real estate sector, the capital value of properties in the city has appreciated over 30% in the past few years.
Another factor that is helping the realty sector flourish further is the city's great connectivity.
Well networked to developed cities like Delhi, Mumbai, Bangalore and Pune via road, rail and air- Indore's connectivity is the city's trump card.
Some of the arterial roads like the NH-3 (National Highway), NH-59 and the State Highway-27 are cited to be some of the best roads and they reduce travel time phenomenally.
Many Multinational Companies have started constructing their offices here.
Similarly, educational institution too are cashing on this connectivity.
Renowned colleges have set their campuses along this corridor.
The proposed project to put up a mono rail and tramway will also attract a many real estate developers and builders to build many flats in Indore.
Apart from the localocalitiesNIs (High Net-worth Individuals) and home buyers from across the country are attracted to invest in Indore.
Many residential projects in localities like MG Road, Vishnu Puri, Indra Puri, Bicholi Mardana, Napania and Airport Nagar are in huge demand.
Investors are now purchasing generous living spaces as they are minimally priced when compared to its neighboring cities.
4 BHK flat in Indore especially in localities like Napania are estimated to hover anywhere between Rs 2,500 and 3,100 per square feet.
Another locality that is fast becoming a hotspot for realty activity is Vijay Nagar.
The abundant electric and water supply are is attracting any potential home buyers to this locality.
The developed social lifestyle that Vijay Nagar offers is another reason why property prices here are skyrocketing.
While Napania attracts the middle class segment, Vijay Nagar is a locality that is dominated by the luxury segments.
The widely built roads help builders create extravagant homes with state of the art amenities.
4 BHK flats in Indore specifically in a locality like Vijay Nagar falls under the price band of Rs 2,000 to 3,700 per sq ft.
Indore, as a city has a phenomenal scope and if you are looking towards buying a large property that is light on your pocket, do not think twice before investing in Indore.
The properties here promise good ROI (Return on Investment), and with the city now becoming one of the fastest growing Tier II city, Indore's realty sector will rapidly grow.