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Indore - Climbing the Real Estate Growth Ladder


Indore - Climbing the Real Estate Growth Ladder

Last updated: January 8 2008
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  • Indore - Climbing the Real Estate Growth Ladder

    Madhya Pradesh (MP) geographically represents the heart of India and Indore is in all senses the heart of Madhya Pradesh. Indore, the commercial capital of MP derives its name from the 18th century Indreshwar temple.

    Having been ignored by the State and Central Governments alike over the years it has grown on its own into a cosmopolitan city playing a pivotal role in the business and commerce of Madhya Pradesh. The city after traversing centuries is poised to become a software and industrial hub with its inclusion in the coveted category of “software city.”

    Though Indore is recently being eyed for development as IT hub, it has long been known for its adjoining industrial belts.
    • Pithampur, referred to as Detroit of India due to heavy concentration of vehicle industry, is close (25 km) to Indore.
    • Dewas, another industrial town is approximately 35 km to Indore, declared as city of export excellence.
    • The cantonment town of Mhow (Military Headquarters Of War) 22 km to the city has a thriving ready made garment industry as well as shoe and metal cottage industry.
    Gaining ground as a notable Tier-II city, Indore has caught the attention of prominent real estate developers. Mirchandani Group, Omaxe, Parsvanath, Sahara have instated the apartment culture in this rapidly growing city. Traditionally been home to unorganized retailing the city is witnessing spurring activities leading to increased “mall shopping culture”. Even the Government is trying to improve the infrastructure of the city by improving inner and inter city road connectivity.

    The city is growing at a scorching pace with developments centered on North and East side of the city. Major developments are being witnessed on the Agra-Mumbai Bypass road which connects Indore to the financial capital on one side and Agra on the other. The prices in the city are affordable when compared to the prevailing Tier- I and II cities with a promising growth in future.

    Indore, a sleepy town is fast turning into a promising real estate destination witnessing frenetic residential, commercial and retail activity.

    By: Pallavi Samadani
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