Published On: Mon, Aug 28th, 2017

Why Indore Is Booming As A Prospective Hub For Investment

 Aditya fatherBy Devendra Dungarwal

Founder of Parshwa Royal Developers and REMC

(25 years of experience in Land Investments)

After RERA & GST major small and medium business will dis-continue and organized builders will switchover to mainly topline builders who are organised and uptill post demontisation builders planing and funding with banks and Institutions in corporate pattern and only only intergrated township and organised markets and low cost housing has a great scope. Premium and medium class has a large stock in trades.

A central india financial and IT hub and education hub

Lot of migration from small cities of mp and thus lot of investments coming from these cities and therfore called as commercial capital of Mp.

Lot of IT companies like TCS and Infosys are coming up and therfore lot of NRI investments is coming and will be expected in coming future and next 10 years.

As per last global investor meet lot of industrial developments, autobiles and other industries are setting up in surroundings of indore in coming 5years.

Super corridor development has alredy seen a great pace this year and also iconomic corridor from International Airport to Pithampur industrial area will be the coming attraction. This will connect DMIC (Delhi Mumbai Industrial Corridor) which will create huge potential for land investmentand opportunities, and also will huge appreciation is expected in this area.

Also Metro railway project is also on a planning stage.

From my view rates of land, plots flats and other real estate avenues are available at a very lucrative and low rates than other developing and growing cities/IT city or 2 tier upcoming city.

We at REMC help in sourcing project based lands in and around indore so we know the future potential of this market and expect a huge demand or requirements for various sectors, institutions and other purposes.

Indore, the land of food, culture, modesty, charm and outright hospitality is a place which feels like the home. Indore has very rich roots & with the time, has become one of the most livable city in India.

Though Indore being a TIER-II city it has it all right from Education, Technology, Research, Art, Fashion, Media, Finance, Commerce & Entertainment, the city has got it all covered.

Indore being the 9th largest city of India & 76th largest city in the world is home to around 3.3 million people & is the proud financial capital of Madhya Pradesh. Indore is not only famous for its mouthwatering food but is also famous for its market like Sarafa bazaar, Dawa bazaar (Asia’s largest Distributor market), Khajuri bazar etc.

History :

Indore holds important history in the areas of trading, finance, and distribution in Madhya Pradesh. Indore has the largest economy in central India and is the business and trading capital of the state. Indore has relatively good connectivity and has been the hub of trade and commerce, not only for the state but also for western India. Cotton textiles are the city’s major product, but iron and steel, chemicals, and machinery are also manufactured there. The textile industry is in decline and is being replaced by a variety of new manufacturing industries. Still, it is the one of the largest textile industry in India. Ayurvedic and Unani medicines from roots and herbs were manufactured under state patronage. Indore has one of the largest trans-shipment centers for truck transport.

Apart from textile industry, Indore has oil seed extraction industry, confectionery, paper and straw board, factories for asbestos products, RCC pipes and poles, machine tools and accessories, electrical machinery and appliances, electronics goods, bicycles and ready-made garments. Indore accounts for about one-third of the total ‘Namkeen’ (variety of gram flour snacks) production of India. Due to its trade and industry, the residents of the city refer Indore as Mini Bombay. Indore Urban Agglomeration had estimated 3.30-lakh workers in 1991. The workforce increased from a size of 1.13 lakh in 1961 recording an average annual growth rate of 3.64% per annum during 1961-1991. The workforce participation rate (WFPR was 28.9% in 1991 and 30% in 2001. It remained almost static between 1981-1991 in percentage terms. The maximum growth (68.6%) took place during the decade 1971-1981 followed (51.2%) during 1981-2001.

Development

actions and plans-.

The commercial capital of Madhya Pradesh, Indore accounts for nearly 40 per cent of the State’s tax revenues. The 500-year-old city, named after an old temple of Lord Indreshwar, served as the capital of the Holkar dynasty from the early 19th century until 1948, when the royal state was merged with the Indian Union.

Its legendary, benevolent queen, Devi Ahilyabai Holkar, is worshipped as the Mother Goddess of Indore, and the city’s university, international airport, and numerous institutions have all been named after her.

An educational, business, transport and medical hub, the city is home to the only stock exchange in central India: the Madhya Pradesh Stock Exchange, founded in 1919.

The commercial capital of Madhya Pradesh, Indore accounts for nearly 40 per cent of the State’s tax revenues.

In preparation for the smart city makeover, it has dusted off a 100-year-old master plan, drafted by urban planner Sir Patrick Geddes. Its reprint was unveiled by Union Urban Development Minister M Venkaiah Naidu during the launch of the smart city project on February 13. The reprint was made possible by the efforts of a group of conscientious citizen-members of NGOs such as Nature Volunteers, Abhyas Mandal, and Mahanagar Vikas Parishad.

Revisiting the master plan

Like Surat and Ahmedabad in neighboring Gujarat, Indore was in the grip of a plague in the early 20th century. In his master plan, drawn up between 1914 and 1921, Sir Patrick proposed that Indore is made a garden city and cleaned up, that its rivers be dredged, and its sanitation facilities improved. He also favored a massive tree-planting drive and the creation of large open spaces, rather than developing the city vertically.

Indore is the only Indian city to have both an IIT and an IIM. A number of blue-chip companies have come forward to be knowledge partners, free of cost, in sectors like education (Symbiosis and Educom) and health (Medanta and Apollo).

These companies have offered smart solutions, making their own presentation on how the new-look smart city of Indore would look like.

Corporate engagement:

A dozen IT companies, including Microsoft, Cisco, Infosys, and IBM, have also chipped in, offering solutions to address the city’s drinking water, electricity supply and sanitation needs.

A smart city is expected to usher in ease of life, provide solutions in citizens’ hands –– on a mobile phone, online, or at their doorsteps. The Indore Municipal Corporation (IMC), founded in 1870, plans to provide digitized smart solutions in areas like water supply, sewerage, public transport, and e-governance.

The pan-city initiatives are centered around the establishment of a ‘backbone communication network’, an intelligent transportation system, and intelligent waste management.

Rajwada redevelopment

Under the Area-Based Development model, some 742 acres, centered around the erstwhile Holkar palace Rajwada (pictured at left), will undergo retrofit-cum-redevelopment .

The Rajwada area is home to 1.2 lakh people, including 29,000 slum-dwellers. There are plans for development of roads and junction, multi-level parking, multi-modal transportation, pedestrianisation and non-motorisation of roads by creating no-vehicle zones, heritage conservation and promotion of tourism, environmental up-gradation and green open spaces, redevelopment of public roads, employment generation centres, upgraded water supply and management, said Hitendra Mehta, Partner, Mehta & Associates, whose firm drafted the Smart City Proposal for Indore (as well as for Jabalpur).

Indore is situated on the banks of two tributaries of the Kshipra River –– Saraswati and Kanh (pictured below right) –– which will be redeveloped as a riverfront tourist attraction. The city is famous for its mouth-watering delicacies, and food hubs like Sarafa Bazar will undergo a total transformation. The proposed redevelopment hub, the dilapidated government employees’ residential colony, known as the Majesty’s Official Guards’ Lines (MOG Lines), will be the new upscale business-cum-residential district.

For the implementation of this ambitious plan, IMC, whose budget estimates for the 2016-17 fiscal are 2,131 crore, will shortly set up a special purpose vehicle. After completion, the project will be handed over to the Corporation, said Mehta.

Real State Boom:

DLF, DHOOT GROUP, KALPTARU GROUP are some of the big names In the field trying to show their presence In the town. They have given city new wings by developing big and well-developed townships in the outer most part of the city. Development of infrastructure in such a humongous way seems to be very promising. And to join the league, Phoenix mall is also coming to show its presence in the city.

Education Sector

Indore, one of the prime cities abounding in historical richness is home to many schools, colleges, and universities. These educational institutions are known to provide a well-rounded education to the students. That’s why; Indore emerges as one of the leading education hubs of India.

Some of the significant schools in Indore are Indore Public School, Delhi Public School, and the Kendriya Vidyalaya schools. Most primary and secondary schools in Indore are affiliated with the Central Board of Secondary Education (CBSE); however, a number of schools have the affiliation with ICSE board, NIOS board, and the state level M.P. Board. These schools are employed with an excellent teaching staff that is dedicated to imparting quality education to the students. The daily College in Indore is one of the most popular schools, which takes special pride in announcing that the alumni council consists of some members of the royal families of India.

Indore is dotted with numerous colleges, which are mostly affiliated to the University of Devi Ahilya Vishwa Vidyalaya. This is one of the premier universities of India that was earlier known to be University of Indore.

Education in Indore thus provides the pupils with the best of education and prepares them to face the world where competition is soaring by the day.

Indore is the only city in India to have an Indian Institute of Management and an Indian Institute of Technology.

Iim And Iit

Stating that Indore is the only city in the country to have both IIT and IIM, former director general of Council for Scientific and Industrial Research (CSIR) Raghunath Anant Mashelkar says that the combo of these two elite institutes can make the city a hub for promoting entrepreneurship.

IIT and IIM in Indore together can nurture entrepreneurship. The i5 Summit conducted jointly by students of both the premier institutes for encouraging start-ups can be seen as a step in that direction. Much more such steps are required,”. Degrees were conferred on BTech, MTech, MSc students and Ph.D. scholars.

India’s Most

Cleanest City:

Indore is India’s cleanest city while another Madhya Pradesh city capital Bhopal was ranked second in the government’s listr

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