“I would give a thousand furlongs of sea for an acre of barren ground.”
Even the great Shakespeare knew the importance of real estate as early as 16 Century. In today’s context, more than 90% of all the millionaires are one or other way related to real estate and commercial properties.
When we talk about commercial properties, the ideal thing is the business properties which consist of the office space. Ask those budding and aspiring entrepreneurs who are spending hours in front of their laptops just searching for best commercial space to start their business. Obviously the top tier cities like Mumbai, Bangalore, Delhi, Noida, etc. make up the first choice for many but their ever rocketing real estate prices can dig a hole in your pockets. Not all can afford to buy a commercial plot or office workspace there.
So what is the need of the hour?
A property that would offer one long-term benefits without compromising with the quality and that too within the budget. Here’s where the tier 2 cities are emerging. Indore is one of those emerging budding hubs of business where buying commercial properties can be a great deal…..
Indore is known to be a cricket freak city and boasts of reputed cricketers like CK Nayudu, Raj Singh Dungarpur to name a few. However, now the times are changing thick and fast as Indore is slowly but steadily growing as a major hub for doing business. Always known as the financial capital of Madhya Pradesh, unlike its sober sibling- Bhopal, Indore has always had that x-factor in it to compete with the bigger cities. In the earlier twenty century, it was nicknamed as ‘Chota Bombay’ as the lifestyle, and the way of living of people in the two cities was extremely similar.
The business was in its full flow even as early as early twenty century as a tiny group of dukanwallas in the Bartan Market in the city boasted of making crores of rupees in a single day. There were textile moguls like Seth Hukumchand who had established a textile empire way before the world had even known a man named the much revered Dhirubhai Ambani.
Located in the heart of the heart of the country i.e. Madhya Pradesh and often referred to as the commercial capital of Madhya Pradesh, the city is an educational hub boasting of an IIM and an IIT, and features a strong pharma and auto industry presence apart from many other perks and assets that can even envy a tier 1 city.
Furthermore, location wise to connectivity to infrastructure to the area the city has everything within it to make it one of the best places to buy commercial spaces in India. With a lot of industrial corridors coming up along with excellent connectivity to all the major cities and industrial areas there is a lot of potential here. Well! Doesn’t it sound interesting? Already typing best properties in Indore in your browser? Or looking for best property in Indore? Wait a minute. First, let me justify my point and bring to your notice why investing in the commercial properties in Indore is a profitable deal. Once you go through the article, I bet you would agree with me.
So you are considering to buy property in Indore. What first came to your mind? A strong transport network that could cater to the needs of your business. Well, there is a very strong Bus Rapid Transit System much like the widely acclaimed DTC named Ahilya Path Project which connects the entire city for all twenty-four hours. So no issues here.
One of the best reasons for you to buy property in Indore is the Super Corridor. This 250-ft-wide road which connects the international airport with Major Road (MR) 10 is where the top software companies like Infosys and TCS are setting up their campuses, making it an emerging location for real estate development. So buying property here is a big investment for the future.
Construction of a new bypass route
To encourage more people to buy property in Indore and to ease the traffic pressure in the city and to make carrying out of business easier and quicker, the government of Madhya Pradesh has constructed a new eight-lane road and courtesy to which people coming from Bhopal can directly go to Indore airport without entering the city. This would ease off the traffic, reduce the transportation time and subsequently would make doing the business a lot easier.
Closeness to The Delhi- Mumbai Industrial Corridor
About 1% of this industrially feasible corridor comes in Madhya Pradesh, covering cities like Neemuch, Mandsaur, Ratlam, Dhar, and Jhabua, which are all in very close proximity to Indore. This makes up for one more reason for yours to buy property in Indore.
World Class Education
Do you know Indore is the only city in the country which possesses both IIT and the much coveted the IIM? Undoubtedly Indore has good schools for children. So from an education point of view, one doesn’t have to think much to buy property in Indore.
Special Economic Zones
The city has many Special Economic Zones and brags about many industrial giants like Bridgestone, Volvo, Force Motors, Eicher Motors, M&M, Cipla, Lupin, Glenmark ….the list goes endless. Even for the IT firms, to buy property in Indore wouldn’t be a bad deal at all with Impetus already running and TCS and Wipro are going to open their offices very soon.
The best residential area in Indore is among the best residential colonies in the whole country. The sky earth residential colonies in Nirpaniya and Vijay Nagar are among the best in the country in all terms whether accessibility, accommodation, the standard of living or whatever parameter you consider. Indoris are more than helping people and are more than polite and humble. So once you set up your office in this beautiful city, you do not have to persuade your employees much to move to the city along with their families. Indirectly but yes this makes up for yet another point to make up your mind to buy property in this city.
One of the foremost problems that arise when you buy a commercial area and set up your office there is the language barrier. However in case of Indore language wouldn’t be a barrier for most of you industrialists. If you are from the northern part of the country or even from eastern or western regions or just say entire India, you would easily adapt to it and its people.
Free from natural Calamities
Well, one of the most underrated aspect while purchasing a commercial property is whether it is safe from natural calamity? Natural calamities can be quite disastrous and may cause extensive loss of life and property. One would certainly not want to open a business in a place where there are such calamities. Even the tier one cities have their own issues like floods in Mumbai, cyclones in Vizag or the extremely hazardous air quality of Delhi. Indore, however, doesn’t disappoint and maintains a clean sheet even in this benchmark with no record of any major natural calamity till date.
The Dynamic Nature of Market
The nature of the market in Indore is a dynamic one. All types of brands have survived as well as prospered here, from inexpensive local brands to international brands. With people coming from all kinds of background there are all kinds of consumers in the market. Everyone with the right business ethics has succeeded, and it is needless to say the stakes are truly high to buy property in Indore.
Close Proximity to the Industrial Capital of Madhya Pradesh –Pithampur
The other thing that goes in favor of Indore is its proximity of Pithampur which makes it easier and quicker to get the best quality of raw materials at very cheap pricing. So do not think twice and begin your search for the best property in Indore.
Lower cost of Living then Metros
When compared to cities like Delhi, Mumbai, Chennai, Kolkata, Ahmadabad and Bangalore, Indore’s market is much cheaper and much more pocket-friendly. If you are getting the same services at two differently prices which one would you choose? Hope you got what intend to say….
A Highly talented Youth looking for good opportunities
The average age of the city is in the higher twenties. Moreover, the youth is highly skilled and trained with very high aspirations. Needless to say, they may become an excellent workforce. So there would certainly be no dearth of the quality workforce once you buy property in Indore and set up your firm here.
India’s cleanest city
Who does not want a cleaner environment for their commercial ventures? Well Indore being named the cleanest city in India by the Government of India in the survey of 2017, you will get the cleanest place to work in entire India over here.
Real Estate Boom
Indore may be a second-tier city right now but the days are not far when it will be counted amongst the top tier cities in the country. With all the big players in the real estate industry such as Sky Earth are all coming up to show their presence in the city, this has led to the setup of many high-class townships in the city. Search for the best residential area in Indore, and you will notice the difference yourself.
A Prospective Metro
A metro railway project is currently in its planning stage and days are not far when the city would have its own rail transport system. It is an underlying fact that metros release the pressure of traffic on the roads of the city but also contribute chiefly in increasing the real estate pricing in the city. So my advice to all you guys is why to wait till then when you get all those properties right now at much lower prices.
Well connected airport
Airport today is a must for setting up a business in a city. With the world getting faster day by day one would certainly not want his/her client to stuck in traffic rather than meeting him/her. Indore even fares well here. The Devi Ahilya Bai International airport here is well connected to rest of the airports in the country as well as abroad making it easier to travel and carrying out your business.
Easy Laws (legal structure)
Levy and other sanctions of Sales tax and vat are comparatively low and easier compared to other states. The rules, regulations and legal structure in Indore are flexible making it easier to carry out the business.
Do you have a plan to start-up but are struggling to get it off the ground due to lack of investments? Then my friend this city –Indore is just for you. There are a huge number of angel investors who are looking up for exciting ideas and are more than willing to fund them. Moreover, venture capital funds are also present. In fact, the city has always been a top priority for angel investors. So if you want to start-up, you should seriously consider the prospect to buy property in Indore.
What is an ideal situation for buying commercial properties for a start-up or pilot venture? Well, the life should not be fast and hectic as in Mumbai or other metro cities and neither to be sluggish as in other B cities. Indore is a perfect cocktail of the two. So all in all Indore city is quickly budding as a bright prospect for investors. And more investors == better business. Correct me if I am wrong.
Stage of Development
Indore is currently in its developing phase, and it is the finest time to invest here. Investing at this phase by purchasing commercial properties is the most excellent way of availing benefits of this development of the city as the city is accepting the changes wholeheartedly.
Booming IT Industry & Opportunities
With the increase in the IT companies in Indore, more and more IT tech firms are establishing their setups in the city.in fact in as much as next ten years Indore will certainly emerge as a major IT hub. As a result, a large number of people along with their families will swarm in the city along with their families. This will create a huge number of business opportunities and thus buying a commercial property will certainly be a profitable deal.
Unlike the cities like Hyderabad where communal fights and political instability is a major concern, there is nothing like that in the peaceful city of Indore. Once you buy property in Indore, rest be assured that you would be in the most peaceful environment to work in.
Proper and adequate power supply
When you buy a business property, you will certainly employ or hire people to work at your firm. People will love to work in your firm only when there are adequate facilities with the power supply being one of them. Moreover power supply is the must for the functioning of any industry, and definitely, Indore wouldn’t disappoint you even here.
Prices of The Property
Last but not the least. What is the final thing that matters when you invest in buying a property? It’s price, right? You will be surprised that with all those world class amenities and infrastructure the real estate prices are not even half compared to metro cities like Mumbai, Delhi etc.
Recently in the month of October 2017, a global investor summit was organised in Indore in which the state government announced a-number-of schemes for the establishment of Industries in the city of Indore.
Furthermore, it also allocated Rs 150 crores for Data Centre clusters, proposed to be one of its kind in India, with the ambitions to help out even the entire continent.
Narendra Sen, CEO of Emax Global and Founder of Rack Bank Data Centre, says, “The government is pulling out all stops to facilitate the entry of big players to set up their data centres in Indore, especially financial institutions.”
And he rightly says so. He is a part of the core policy team of the Data Centre Park and also serves as a consultant to the project being promoted by MP State Electronics Development Corporation Ltd. (MPSEDC), the agency that is behind the promotion of the establishment of IT industry in the state.
All the budding entrepreneurs or the people who want to begin their own tech startups, there is good news for all you guys. The government of Madhya Pradesh has allocated an additional Rs 100 crore for funding tech start-ups in the region. What is more encouraging is that the Madhya Pradesh government has come up with a special BPO policy in place to attract Business Process Outsourcing companies to set up businesses here. The results are quite evident after implementing this policy as the startups like Bangalore-based Rural Shores, has established a district/sub-district level BPO centre at Barwah, about 68 km from Indore, where thousands of people particularly youths from around 100 surrounding villages are receiving training. All in all, this has led to a positive environment for purchasing a commercial property and establishing your business here.
It doesn’t surprise anyone when the largest residential tower in Central India opens up in one of the residential areas in Indore (Skye Luxuria 20). This is an Indorian way of showing the world that it has arrived and is ready to take on the challenges to become the next business hub of the country. Do not miss to be the part of the journey of this beautiful city from a sober place to a major industrial hub. Buy property in Indore and be the part of the change.