Moving towards prosperity

Indore is the largest town in Madhya Pradesh (MP) and a major commercial hub. It goes by several monikers, the more popular being ‘the commercial capital of MP’ owing to its status as one of the most developed industrial belts, and ‘Mini Mumbai’ due to its lifestyle similarities with India’s financial capital.

The satellite townships of Pithampur, Mhow and Dewas, located on the outskirts of the city, have emerged as major industrial hubs. Textile trade here has flourished for decades and the automobile manufacturing industry is picking up pace. Oil seed extraction, confectionery, electrical machinery and appliances, electronic goods, bicycles, and ready-made garments are other prevalent industries.

Tourism in Indore offers both historical and natural sights. The city has several temples like the Annapurna temple as well as Kanch Mandir, a Jain temple inlaid with glass, to name a few. In addition, the AtalBihariVajpayeeRegionalPark, the Indore zoo, Meghdoot garden, and Rajwada palace are other places of interest.

Areas of interest The demand for residential property in Indore has also shot up on the back of increased population. At present, there are about 20 integrated townships being developed. Leading realtors such as Ansal, Eldeco, Raheja, Omaxe, Parsavnath, DLF and SaharaCity, among others, have ongoing projects. Local players like Millennium Devcon, Premshree Group and Shreenath Buildcon are also making their presence felt.

Demand is essentially picking up in the areas around Super Corridor, AB bypass road, MR 10 road, ring road, Jhalariya, Kanadiya road, Usha Nagar, Khandwa road, Ranjit road and Annapurna road. The areas around AB bypass road, ring road and MR 10 road have the bulk of the projects due to their excellent connectivity with the highways and city limits.

Development push Indore is witnessing growth in all areas of economic development such as real estate, utilities, transport and industry.

It is attracting several food processing companies and Leela Foods, Paras Agro and Pashupatinath Global are expected to invest here.

Areas surrounding Pithampur (Phase I, II, III) alone host 1,500 large, medium and small industries. The Indore SEZ is spread across 3,000 acres and the Sanwer Industrial Belt covers an area of 1,000 acres. Tata Consultancy Services too is expected to set up a software development campus.

The state government is pushing for adding international flights to promote business and tourism. Its proximity to Ujjain should boost commercial real estate investment.

Several multi-specialty hospitals, stadiums and educational institutions are expected to come up, giving a boost to realty development.     

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olmdesk@outlookindia.com