By Devendra Dungarwal – Founder of Parshwa Royal Developers and REMC 25 Years of Experience in Land Investments
Accommodation Times Bureau
Indore is the most populated city of MP and is the commercial capital of Madhya Pradesh.
It is also the administrative headquarters of the Indore district and the Indore division. As a
result, the city has become a hub of industrial, technological and educational activities.
Industrialization, modernization, trade and commerce have evolved rapidly in past few years.
The city has premier educational institutes, hospitals, shopping centres and other
infrastructural amenities which make it an attractive destination for investors.
1. Smart City:
Being shortlisted by the Ministry of Urban Development as one of the 100 cities for submitting
the Smart City Proposal, the construction work has already begun to make it one. Execution
of various projects such as setting up smart poles, laying underground cables, creating
underground ducts has already been started in areas like Rajwada, Sarafa, Biyabani etc.
Apart from this, proposals to improve water supply, waste water recycling and conservation,
energy management, sanitation including solid waste management, efficient urban mobility,
robust IT connectivity and digitization, safety and security of citizen, smart street lighting,
public WiFi network, smart parking, development of non-motorized transport, sustainable
environment, intelligent traffic management, health and education services using IT enabled
smart applications, innovative use of open spaces or any other feature related to city
infrastructure and services identifying creative and innovative solutions to common urban
challenges, are also in the pipeline.
It has also qualified the first round of Smart Cities Mission and has been selected as one of
the first twenty cities to be developed as Smart Cities.
Another feather in the cap is, central India’s first Data Centre Park (Data Cluster)
which is located in Betma, Indore. There are only 5 such clusters in the country including
As per the Swachh Survekshan 2017, Indore has been declared the cleanest city in India.
2. Transport and connectivity:
Indore is very well connected to all the major cities of the country by air, rail and road. Devi
Ahilyabai Holkar National Airport is a prominent airport that offers good connectivity from
major cities of India like Bangalore, Delhi, Nagpur, Hyderabad, Kolkata, Raipur, Lucknow,
Mumbai, Pune, Srinagar and Goa. Indore airport provides free WiFi internet connectivity.
Indore is connected to major Indian cities like Mumbai, Pune, Nagpur, Delhi, Jaipur, Agra,
Ahmedabad, Vadodara, Howrah, Bhopal, Ujjain, Gwalior, Bhind, Jabalpur, Bilaspur, Khandwa,
Lucknow, Varanasi, Patna, Ambala Ct, Jammu, Dehradun and Trivandrum via train.
I-Bus running on dedicated BRTS corridor is currently the only government operated
integral bus service in India which has GPS and real time feedback system encapsulated
Recently, Indore became the first city in the country to have Robotic Arm traffic signal
installed in Barfaani Dham area at the junction of MR9 and Ring Road.
3. Business Opportunities:
Businesses of all scales ranging from small to large scales have flourished in the city.
Every year Indore organizes Global Investors Summit in which more than 20 countries
including US, UK, Australia, Germany and Japan participate. Since ancient times, cheap
land and labor in Indore and surrounding areas like Pithampur, Dewas and Sanwer
have attracted major business houses to invest in the city. Large industrial and
commercial establishments are located in these cities. Automobiles, telecom, BPO,
consulting, manufacturing, electronics, hospitality and pharmaceutical
companies have given big boost to the economy of the state.
The Indore Development Authority (IDA) has plans to make Super Corridor which is 8
lane 225 ft. wide lane road, the hub for BPO and IT companies and also for companies in
financial sector as the rental is far lower than that of the metros, and the location has
proximity to the airport. TCS has acquired 130 acres of land in this area and the
operations have already commenced in 2017. Infosys too, has made huge investment
and acquired land in the city, to create not only job opportunities, but also boost Indore’s
real estate value.
The M.P. State Electronics Development Corporation has set up Software Technology
Parks in major cities of the state to encourage commercial development in the area. The
Optel Software Technology Park at Indore is part of this project. The Park has been
able to take advantage of its being located in the commercial capital of Madhya Pradesh.
Key advantages include its central location, and a socio-industrial infrastructure that is
comparable to that available in other metros, but at a lower cost.
A number of software companies like CSC, Impetus, InfoBeans have also set up their
offices in Indore that has tremendously enhanced city’s image as a preferred business
destination. The electronics complex in the city houses offices of some of the top telecom
and electronics companies of the country and the real estate scene in the area is likely to
improve further once the undergoing projects of Special Economic Zone (SEZ) and
Software Technology Park (STP) turn on ground. The biggest commercial project in
Indore is coming in the form of automobile testing track at Pithampur. With investment
to the tune of Rs 5,000 crore, the track will be the largest in Asia.
4. Indore Metro Rail Project:
The Indore Metro is a fast travel light metro framework proposed for the city of Indore.
The aggregate framework comprises of 6 corridors covering a separation of 107
kilometers . Metro Project will be the first in India to have driverless train.
This project will cost approximately ?12,000 crore
5. Educational hub:
In recent years, Indore has emerged as one of the leading education hubs in India. There
are over 80 engineering and management colleges, providing a good pool of manpower
for various companies in and out of Indore.
Indore is the only city in India to have an Indian Institute of Management and an
Indian Institute of Technology. Some other educational institutions, which provide
excellent training in professional courses are Govindram Institute of Technology and
Science, The Mahatma Gandhi Memorial Medical College, Institute of
Engineering and Technology etc.
Indore also has research centres like Choithram Hospital and Research Centre
(CHRC) and Centre for Advanced Technology (CAT).
Symbiosis and Narsee Monjee universities have already allotted 25 acres land each for
campus. DAVV has allotted 50 acres for medical university.
6. Real Estate Scenario:
Like any other developing city, Indore has shown impressive growth in real estate due to
increased demands for residential and commercial spaces. Real estate companies like
DLF, Omaxe, SS group, Amrapali, IBD , Mirchandani, Ansal etc. invested a big
chunk in real estate. as the city has one of the most developed infrastructures.
PropEquity, an online subscription based real estate data and analytics platform for tier II
cities, released a list of top tier-II cities in 2015, in which Indore was ranked 8th out of 19
cities. The ranking was given on the basis of highest sales, price, supply, absorption,
inventory and new launch trends.
With the growth of new companies, rapidly increasing number of high net-worth individuals
and expanding road network, are the major driving factors behind the growing real estate.
The above factors clearly show that the real estate market in Indore is quite upbeat and will
be a worthwhile strategic investment platform, for big and small investors.