Indore - Costly Investment - Indian Real Estate Forum

tipto · 08-08-10

Indore, the financial capital of MP is very costly now. In past 2-3 years in terms of development only roads have been made. Rest all is on paper and in minds of people.
MoUs were signed just for the sake of rising the property prices. Government's sincere effort of attracting IT/ firms simply did not kick off and none of the companies showed any commitment.

Now govt is trying to lure agro bases businesses.

Well to cut long story short, nothing seems to me materializing the way it should (i mean the pace). Compare Indore with any other Tier 2 or Tier 3 city and you will know the difference.

In last 5 yrs Hinjewadi Village (Pune) has more number of people working in firms then Indore can ever imagine in next 50 yrs to come.

But all these talks of Development and MoU has definitely raised the price of plots from mere 400 Rs/Sq FT to 2000 Rs/FT for no reason but JUST THE HOT AIR

So where did all this money came from. Indians are good savers. They save a lot. FDs were not fetching any returns and many burnt their hands in recent stock market crash of 2008. On top of this govt now track each and every PAN number. Plots in Indore provide you the option to convert the white and black money to black. Most of the plots on Bypass road are all purchased by investors and they are in no hurry to built houses here.
So you can easily assume that it would take 20 yrs for the actual resident to migrate here.

Hell lot of townships and buildings are coming up and you have plenty of options available.

Your comments please.

VishalPrabhakar · 23-08-10

Hi..

do you have a list of projects/townships coming up in indore? along with rates?

am looking for a 1bhk/2bhk in indore..

Sahara city rates - looked absurd to me...
DLF - it seems do not have 1/2 bhk in this phase.

hows omaxe/parsavnath/silver springs?

tipto · 27-08-10

Infocity
Sun city Vistara
Silver Springs
Treasure Fantasy
Hare Rama Hare Krishna
Tulisyana
DLF
Omaxe 1 and 2
County Walk
Empire Metro
Goyal Avenue
Indore Greens
Satellite Enclave
Mahalaxmi Nagar
IDA 134
Pawan Dham
Kalindi Midtown
Kalindi City
Platinum Paradise
Premium Paradise
Pushpa Vihar
Indus

VishalPrabhakar · 27-08-10

Quote:

Originally Posted by tipto

Infocity
Sun city Vistara
Silver Springs
Treasure Fantasy
Hare Rama Hare Krishna
Tulisyana
DLF
Omaxe 1 and 2
County Walk
Empire Metro
Goyal Avenue
Indore Greens
Satellite Enclave
Mahalaxmi Nagar
IDA 134
Pawan Dham
Kalindi Midtown
Kalindi City
Platinum Paradise
Premium Paradise
Pushpa Vihar
Indus

thanks tipto...
i believe you are from indore?
can you pls share your email id? - as i do not see many threads/user on the indore thread to answer queries..

i am unfamiliar with indore and need some basic info about it.

I am planning to invest in "silver Springs"..is it a right choicE?
DLF - would have been my obvious choice, but seems they do not have 1/2 bhk apts.
Also, how is the IT shaping up in indore?

Is indore worth investing in terms of 5-8 yrs investment?

Would appreciate your inputs and thoughts..

Thanks,
Vishal

tipto · 31-08-10

If you are buying considering that Indore will/can be hub for IT. I would say drop your idea. It can not. Period.

For a 5-8 year horizon, any damn city in India will give you the return if you invest in land.

Invest in Home/Flat only in cities where Land is not available like Mumbai, Gurgaon. No point in "INVESTING" in a home/flat in Indore

rkvarshney · 30-01-11

Hi Tipto

I am planning to invest in balaji heights at Mahalaxmi nagar. they are offering 1900 per sft. Plaese advise the builder reputation

sublimation · 29-12-11

Published on Thu, Dec 29, 2011 Source : PTI
The Madhya Pradesh Government has given clearance in principle to give 100 acres of land each to Information Technology giants - Tata Consultancy Services and Infosys Ltd.
Official sources said here today that this decision was taken at a meeting yesterday of the State Cabinet chaired by the Chief Minister Shivraj Singh Chouhan.
They said that land to the two would be allotted in the super corridor of Indore at a rate of Rs. 20 lakh per acre. According to officials, the loss suffered by the Indore Development Authority (IDA) due to allotment of subsidised land would be compensated by the state government.
They said that the land will be given to the two companies on the condition that they will provide jobs to 100 engineers per acre and will also give 50% jobs to domiciles of Madhya Pradesh.

sublimation · 25-01-12

TCS gets green signal for Indore SEZ

manish2010 · 31-01-12

Once SEZ work starts Real estate prices will pick up in Indore. Over all gr8 news for MP

sublimation · 31-01-12

Press Trust of India / Bhopal Jan 31, 2012, 21:19 IST
IT major Infosys today signed an MoU with the Madhya Pradesh government for investing Rs 600 crore in its proposed unit in Indore, which will generate over 13,000 jobs.
The MoU was signed by the Secretary IT, government of Madhya Pradesh, Hari Ranjan Rao and Infosys Vice-President, Chandraketu Jha in the presence of Chief Minister Shivraj Singh Chouhan and Industries Minister,
Kailash Vijaywargiya at the state mantralaya, official sources said.
The MoU with Infosys would encourage more investment in the state, Chouhan said.
The state government has decided to provide 130 acres to Infosys on a 33-year lease. The project will be completed within five years.
The company is setting up the facility at the Super Corridor in Indore.
Infosys to invest Rs 600 cr in Indore facility

08-08-10	#1
tipto New Member Join Date: Mar 2010 Posts: 46 Thanks: 1 Thanked 0 Times in 0 Posts	Indore - Costly Investment Indore, the financial capital of MP is very costly now. In past 2-3 years in terms of development only roads have been made. Rest all is on paper and in minds of people. MoUs were signed just for the sake of rising the property prices. Government's sincere effort of attracting IT/ firms simply did not kick off and none of the companies showed any commitment. Now govt is trying to lure agro bases businesses. Well to cut long story short, nothing seems to me materializing the way it should (i mean the pace). Compare Indore with any other Tier 2 or Tier 3 city and you will know the difference. In last 5 yrs Hinjewadi Village (Pune) has more number of people working in firms then Indore can ever imagine in next 50 yrs to come. But all these talks of Development and MoU has definitely raised the price of plots from mere 400 Rs/Sq FT to 2000 Rs/FT for no reason but JUST THE HOT AIR So where did all this money came from. Indians are good savers. They save a lot. FDs were not fetching any returns and many burnt their hands in recent stock market crash of 2008. On top of this govt now track each and every PAN number. Plots in Indore provide you the option to convert the white and black money to black. Most of the plots on Bypass road are all purchased by investors and they are in no hurry to built houses here. So you can easily assume that it would take 20 yrs for the actual resident to migrate here. Hell lot of townships and buildings are coming up and you have plenty of options available. Your comments please. Last edited by tipto; 09-08-10 at 01:44 PM.

27-08-10	#3
tipto New Member Join Date: Mar 2010 Posts: 46 Thanks: 1 Thanked 0 Times in 0 Posts	New Colonies Mostly outside indore Infocity Sun city Vistara Silver Springs Treasure Fantasy Hare Rama Hare Krishna Tulisyana DLF Omaxe 1 and 2 County Walk Empire Metro Goyal Avenue Indore Greens Satellite Enclave Mahalaxmi Nagar IDA 134 Pawan Dham Kalindi Midtown Kalindi City Platinum Paradise Premium Paradise Pushpa Vihar Indus

29-12-11	#7
sublimation Senior Member Join Date: May 2011 Posts: 836 My Mood: Thanks: 17 Thanked 51 Times in 40 Posts	MP govt agrees to allot 100 acres of land to TCS, Infosys Published on Thu, Dec 29, 2011 Source : PTI The Madhya Pradesh Government has given clearance in principle to give 100 acres of land each to Information Technology giants - Tata Consultancy Services and Infosys Ltd. Official sources said here today that this decision was taken at a meeting yesterday of the State Cabinet chaired by the Chief Minister Shivraj Singh Chouhan. They said that land to the two would be allotted in the super corridor of Indore at a rate of Rs. 20 lakh per acre. According to officials, the loss suffered by the Indore Development Authority (IDA) due to allotment of subsidised land would be compensated by the state government. They said that the land will be given to the two companies on the condition that they will provide jobs to 100 engineers per acre and will also give 50% jobs to domiciles of Madhya Pradesh.

25-01-12	#8
sublimation Senior Member Join Date: May 2011 Posts: 836 My Mood: Thanks: 17 Thanked 51 Times in 40 Posts	TCS gets green signal for Indore SEZ TCS gets green signal for Indore SEZ

31-01-12	#10
sublimation Senior Member Join Date: May 2011 Posts: 836 My Mood: Thanks: 17 Thanked 51 Times in 40 Posts	Infosys to invest Rs 600 cr in Indore facility Press Trust of India / Bhopal Jan 31, 2012, 21:19 IST IT major Infosys today signed an MoU with the Madhya Pradesh government for investing Rs 600 crore in its proposed unit in Indore, which will generate over 13,000 jobs. The MoU was signed by the Secretary IT, government of Madhya Pradesh, Hari Ranjan Rao and Infosys Vice-President, Chandraketu Jha in the presence of Chief Minister Shivraj Singh Chouhan and Industries Minister, Kailash Vijaywargiya at the state mantralaya, official sources said. The MoU with Infosys would encourage more investment in the state, Chouhan said. The state government has decided to provide 130 acres to Infosys on a 33-year lease. The project will be completed within five years. The company is setting up the facility at the Super Corridor in Indore. Infosys to invest Rs 600 cr in Indore facility

23-08-10	#2
VishalPrabhakar Member Join Date: Jul 2010 Posts: 111 Thanks: 0 Thanked 0 Times in 0 Posts	Hi.. do you have a list of projects/townships coming up in indore? along with rates? am looking for a 1bhk/2bhk in indore.. Sahara city rates - looked absurd to me... DLF - it seems do not have 1/2 bhk in this phase. hows omaxe/parsavnath/silver springs?

31-08-10	#5
tipto New Member Join Date: Mar 2010 Posts: 46 Thanks: 1 Thanked 0 Times in 0 Posts	If you are buying considering that Indore will/can be hub for IT. I would say drop your idea. It can not. Period. For a 5-8 year horizon, any damn city in India will give you the return if you invest in land. Invest in Home/Flat only in cities where Land is not available like Mumbai, Gurgaon. No point in "INVESTING" in a home/flat in Indore

30-01-11	#6
rkvarshney New Member Join Date: Feb 2010 Posts: 42 My Mood: Thanks: 0 Thanked 0 Times in 0 Posts	Hi Tipto I am planning to invest in balaji heights at Mahalaxmi nagar. they are offering 1900 per sft. Plaese advise the builder reputation

31-01-12	#9
manish2010 Member Join Date: Jan 2010 Posts: 71 Thanks: 5 Thanked 7 Times in 5 Posts	Once SEZ work starts Real estate prices will pick up in Indore. Over all gr8 news for MP

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