Why the commercial real estate in Indore is the best place to invest right now?
Indore, Madhya Pradesh’s financial capital, has experienced impressive growth in the real estate industry in recent years. In the last 3 years, total residential real estate supply was 290mn sqft and absorption was 270 mn sq ft which comes to almost 94 % absorption rate. The land absorption rate skyrocketed for plots at 69.52% compared to apartments at 25.12% and row houses/villas at 5.36%.
In terms of commercial real estate also Indore saw a significant boost in the land supply and occupancy in the year 2020-2022. The supply, occupancy, and vacancy rates of commercial real estate in Indore look like this-
Supply – 10.96 m n sqft
Occupancy- 8.12 m n sqft ( 74.08 % )
Vacancy – 2.84 m n sq ft
Currently, Indore is shining in the light of real estate investment. The Global Investors Summit, 2023 and the emergence of start-ups has made Indore a hot topic for commercial real estate. The best representatives of the booming real estate market of Indore are Phoenix Mall (Central India’s largest shopping space), Smart City, and Metro Rails. Adding to a set of commercial real estate pioneers is Royal Park- an exclusive shopping and entertainment destination for Central India. To further boost this commercial real estate development era, Royal Park is the perfect inaugural investment.
‘The growth incline of real estate development in Indore is rather substantial and we can vouch that the upcoming ventures in the city would only encourage the same. Major players of retail brands are now establishing their foot in the city as they register the expansion trajectory of Indore.’ said Vipul Agrawal, the Managing Director of Sunil Agrawal and Associates (SAA) Commercial.
Royal Park is an invitation for your business’s growth and development and it is the pinnacle of Indore’s luxury and amenities. Being the first-of-its-kind lifestyle activity centre in Rau, the Royal Park has plans for your family. The place offers screen multiplexes with a food court to spend a chilling weekend with family. There is a game zone, perfect for kids to hang out while you shop at prestigious brands like Inspire, Jockey, and Lifestyle. This commercial space has everything you need to expand your business and acquire new customers, including high foot traffic, ample parking, and spaces that can be customized.
‘Indore’s thriving culture and expanding economy make the city a fantastic alternative for investors wishing to profit from a booming market, ample resources, readily available skilled and unskilled manpower, and a growing global reach, said Vipul Agrawal, Managing Director of Sunil Agrawal and Associates (SAA) and a commercial real estate expert.
(ThePrint ValueAd Initiative content is a paid-for, sponsored article. Journalists of ThePrint are not involved in reporting or writing it.)