Although currently not many people are looking to invest in Indore property the city is an excellent place to invest in. The city is one of the fastest developing cities of Madhya Pradesh which invites a huge talent pool. The city’s educational hub houses IIM and an IIT. A strong presence of pharma and auto industry also influences prices of property in Indore and the rental rates of house on rent. The real estate prices of the city are largely driven by investor demand currently since there is an oversupply properties the prices of property in Indore are at rock-bottom. Due to huge pile of unsold inventory the buyers of Indore property are spoilt for choices. The lowering of EMI rates due to reduction of repo rates have encouraged many people who living in a house on rent to buy a property in Indore. There was always demand for properties from the buyers, but lack of liquidity was holding them back earlier.
The city had witnessed a real estate boom between 2010 and 2013 but now the city's real estate sector faces stagnation as many projects have been stalled and stopped. Even government properties are facing the pinch of slowdown. The IDA (Indore development Authority) had taken permission from state government to reduce the price of property in Indore as several properties were lying unsold since several years. The civic body had planned to slash prices of Indore property by 15% to 20 % to attract all those who are staying on house on rent to buy a property in the city of Madhya Pradesh.
Although Indore real estate has recovered a lot in the last two - three years but the city still has an on oversupply of properties. The developers are doing everything to reduce their inventory. Buyers are on the other hand is taking advantage of the situation and they are negotiating hard to which builders are happy to oblige. Several builders are facing a cash crunch they are willing to give upfront discounts in an attempt sell their inventory so that they can invest in new projects.
Looking at the future development which is planned for the city this is probably the best time to invest in Indore. People looking for a good place to invest in must consider investing in the city of Madhya Pradesh. Property in Indore will give huge price appreciation in the coming years.