Indore City Overview - 1
City Key Data - 2
City Socio Economic Scenario - 4
Indore City Growth Corridors & CDP Assessment - 5
Site Details
Connectivity – BRTS, Metro & Road - 6-8
Indore Real Estate Market Key Indicators - 9
Absorption & Unsold Units - 10
New Launches Supply - 11
Price & Absorption - 12
3BHK v/s 2BHK Performance in Last 10 years - 13
Disclaimer & Limitation of Liability - 14



01
   
Indore, located on the Western region
of Madhya Pradesh is one of the most GOVERNANCE STRUCTURE
important commercial centers of the Indore Municipal Corporation (IMC) is the governing
state. As the story goes, Malharrao body of the city of Indore. At present, the municipal area
Holkar of the Holkar clan, received is divided into 12 zones and 85 wards of various sizes
Indore as part of his booty in the and population. For administrative purposes, the city is
conquest of Malwa in 1733. His divided into 69 wards. These wards have been further
descendants, who formed the core divided into 11 zones. Indore is a Loksabha constituency
part of Maratha confederacy and later and has 9 assembly seats. Indore is the
formed a princely state under British administrative
rule. Even in days of yore it was an center and chief
important business hub. city of the district.
With the entry of the corporate firms Mhow is an
and institutions, it has earned a major important
name in the commercial sector of the cantonment town in
country Indore is home to many Indore District, it has three
of the Indian Army's premier OLD MUNICIPAL BOUNDARY
industries such as cotton textiles,
training institutes. The Border Area 131 Sq. Kms.
chemicals, machinery, iron and steel,
Security Force (BSF) has its Central School of Population (2011) 19.64 Lakhs
food and edible oil, confectionery,
paper and straw board, RCC pipes and Weapons and Tactics (CSWT) at Indore. Indore is
poles, machine tools and accessories, the only city of India with both an Indian Institute of NEW MUNICIPAL BOUNDARY
electrical machinery and appliances, Management (IIM) and an Indian Institute of Technology Area 276 Sq. Kms
electronic goods, pharmaceuticals, (IIT). Population (2011) 21.95 Lakhs
snacks and educational services. The main institution involved in planning and
A study by CTTPI (Comprehensive development in Indore is IDA. The principal PLANNING AREA
Traffic and Transportation Plan for responsibility of IDA is to ensure a holistic development Area 505.25 Sq. Kms
Indore) estimates a population size of of the Indore agglomeration covering an area of 19.718 Population (2011) 23.50 Lakhs
42 lakhs for the city by the end of 2021. km2 as per Master plans.

02
   
Indore city lies in the heart of Malwa. The
INDICATOR CITY (MUNICIPAL STATE INDIA
extremities of this district measures from
CORPORATION) (URBAN) (URBAN)
220-20'N to 230-05' N. latitudes and from Literacy rate %
750-26' E to 760-14' E. longitudes. It is Total Population 1964086 2,00,69,405 37,71,06,125
bound in the north by Ujjain district, in the Total Population of UA (if) 2170295
south by West Neemar district, in the north
Share of ULB population in
east by Dewas district and in the west by
Dhar district. Physically the boundaries of District Urban population (%) 80.9
81.48
Indore district stretch mostly along the PopulationGrowth Rate (AEGR) 2001-11 2.86 2.29 2.76
89.95
natural features on three sides, viz. the
Kshipra river in the north east, the Area (sq. km)* 172.39
Chambal in the west and the water-parting Share of ULB area in district (%)* # 4.42
line of the Vindhyas in the south between
Density of population (person per sq. km)* 11393
the Karam and the Choral rivers, both
flowing into the Narmada to the south. Female Male Literacy Rate (%) 85.87 84.11

As per the Census 2011, its geographical Schedule Caste (%) 15.4 12.6
area is 3898 sq. kms. Indore is situated at 0.65
0.51 Schedule Tribes (%) 2.61 2.77
1.09 Buddhist
an altitude of 553 meters above sea level on Sikh Christian 0.21
Not Stated Youth, 15 - 24 years (%) 19.68 19.68
the banks of two small rivulets, the
Saraswati and the Khan. Indore is the most 3.25 0.03 SlumPopulation (%) 30.05 17.36
Jain Others
populous city in Madhya Pradesh with WorkingAgeGroup, 15-59 years (%) 65.07 65.27
population of about 1.6 million according to
the 2001 census. It is likely to rise to 3.6 14
Muslim
million by 2035 respectively. The average Per Capita Income
annual growth rate of population is around
40% as per the statistics of census 2001. India 103870
80
Indore has an average literacy rate of 72%, Hindu
higher than the national average of 59.5%: Madhya Pradesh 73268
male literacy is 78%, and female literacy is
65%. Indore is one of the fastest growing Indore 52501
Tier II cities in India. Religions in Indore (%)

03
  
 
Textile or garment industry is the traditional business of the region and
The commercial capital of it is still an integral part of Indore economy. There are a number of
central India, any textile mills in the region and Indore still is the bastion of wholesale
alterations in Indore garments. There are a number of firms involved in export of textile and
economy has a direct such business firms contribute a lot to the development of Indore
impact on the larger economy. Besides textile, metal industries are also an integral part of
economic condition of Indore economy and it includes, alloy, automobile and steel industries.
India. Indore economy is
expanding in all directions Besides such traditional economic activities, Indore is gaining pace as
and it includes both the a Tire II city of India. A testing ground for many companies, Indore
traditional agro industries economy also witnesses a very strong corporate presence. With the
and modern corporate boom in the sector of Information Technology, a number of new small
and IT companies. One of and big IT industries have come up in the city which are offering a
the busiest cities of numerous job. A separate electronic complex has been created in
Madhya Pradesh, Indore Indore which exemplifies the importance of IT in Indore economy.
is the economic nerve These complex houses offices of some of the top IT companies of India.
center of the state. With Automobile in Indore is one of the numerous industries that contribute
A major component of the Indore economy, the Industries in Indore
the flourishing of Indore substantially to the Indore economy. In fact, it is these flourishing
contribute a considerable amount of revenue. The city has emerged as
economy, a number of businesses whose success and prosperity can be attributed to Indore’s
a major industrial center of the state of Madhya Pradesh.
management and popular nickname, the business capital of Madhya Pradesh. The
engineering schools have Pithampur near Indore is one of the largest hubs of vehicle and National Automotive Test Tracks (NATRAX-Indore) will be a world-class
been opened in Indore in automotive proving ground setup on 3000 acres land for comprehensive
automobile industries in India. it is a well-known industrial estate
order to supply the testing and evaluation of all type of vehicles. The site is located between
referred to as the ‘Detroit of India’
growing demand of NH-3 and N-59 and well connected with road. The facility will have all
professionals. types of surface type to test vehicles against varying terrains and
stringency. The core of the facility is the oval 4-lane high speed track of
Indore accounts for about 13.6 Km designed for a neutral speed of 250 kmph on curves. The large
one third of the total part of test load on this facility is related to evaluation of automotive
‘Namkeen’ (variety of performance such as max speed, acceleration, break, efficiency, noise,
gram flour snacks) vibration, handling, stability etc. NATRAX will be the Center Of
production of India. Excellence for Vehicle Dynamics. NATRiP has planned an expenditure of
about Rs.Rs.500 Crores to create this world class facility.

04
    
Major Real Estate developments both Indore Development Plan - 2021
Residential & Commercial Real Estate
is observed in these 4 regions in the Western Indore (Region 4) – Super Corridor,
last few years. Paliya, Panchderiya, Dharampuri, etc. This is the
most upcoming region of Indore. With the
North Indore (Region 1) – Areas like establishment of IT Majors like TCS, Infosys and
Talawali Chanda, Omaxe, Arandiya, Impetus (under construction) and excellent
Baliya Kheda, Mangliya, Sula Khedi, infrastructure (6-lane road, 1st Indore Metro
etc. This region has been majorly driven Route), close proximity to premium residential
by end users. Due to its distance from and commercial localities like Vijay Nagar,
the main city, affordability in this region Bombay Hospital this region has evolved as one
could be observed. With new project of the major investment destination of Indore.
announcements and increase in sale Ujjain Road prices too have started shooting
prices of project on MR 11, Omaxe and upwards due to low price land availability and
Vistara, an upwards trend in sale prices healthy sales.
of new projects with healthy absorption
direction of town & country planning. (M.P.)
%age could be seen in this region.

East Indore (Region 2) – Areas like Southern Indore (Region 3) – Area like Rau,
Kanadiya, Bicholi Mardana, Bicholi Rangwasa, Silicon City, etc. This region is an 8%
Hapsi, Pipliyahana, etc. Prices in this upcoming area in terms of residential catchment as Commercial
region has remained healthy, few of the well as commercials developments. As many as 6-8 14%
premium projects has performed very commercial projects have been announced and are Recreational
well in this region. This region has been on sale in the region. Most of the retail brands are 46% Industrial
7%
mostly preferred by the senior/ upper eyeing this region because of lower lease rentals
mid management employees working compared to other major highstreets of Indore. This 8% PSP & PUF
in Pithampur Industrial Area. This region pre-dominantly caters to the
Transportation
region has given excellent returns on Mid-Management/ Lower Management employees
17%
investment to investors in past. This working in the Pithampur Area. Off lately this region Residential
region still commands premium and has become the most preferred area for traders/
projects in this region has always businessmen's having businesses in the old city. Source: Master Plan Indore 2021
performed well.

05
    
Indore is fastest growing Tier II city of India and is the commercial capital
of central India. The rapid industrial and commercial development coupled
with the rise of population has resulted in large scale increase in traffic in
the city. This has led to number of problems like delay, congestion,
accidents, pollution, etc. To solve these problems, the transportation
projects in the city of Indore are aimed towards increasing the use of
public transport. The measures taken for the same include
implementation of traffic streamlining, improvement of parking and
pedestrian facilities. The important intervention towards achieving this
aim include Bus Rapid Transit System (BRTS) in Indore. In order to
catalyze this process other interventions undertaken include Automatic
Fare Collection systems, traffic signal prioritization along BRTS corridor,
streamlining of fare collection, integration of fares and extension of
services to Radio Taxi, parking tariffs, etc. Consumer services and mobile
based application for seamless access to BRTS services have developed.

PROPOSED BRTS CORRIDORS

CORRIDORS DISTANCE
AB Road Corridor 23.80 Kms
Eastern Ring Road Corridor 23.65 Kms
M.R. 10 Corridor 8.71 Kms
River Side Road Corridor 14.50 Kms
Western Ring Road 15.90 Kms
Badaganpti to airport 5.30 Kms
RW2 Ujjain Road to airport 9.50 Kms
Other road ( M.G, RNT, YN ) 19.10 Kms

The Pilot Project of AB Road is done till now which is 11.46 Kms,
with 21 Stations and 40 Buses.
06
     

INDORE METRO

The Indore Metro is a rapid transit system which is under construction for the
city of Indore, India. The total system consists of 11 corridors (lines) covering a
distance of 124 kilometres (77 mi). This project will cost approximately ₹12,000
crore (US$1.5 billion). The cost per km will be 182 crores and total cost is
15,000 crores. The metro system will be elevated, underground and on ground.

Six corridors have been proposed by DMRC. The main corridors are:

• Annapurna to Sukhliya

• Super Corridor MR 10 to Ring Road

• Niranjanpur to Bhawarkaun

07
   

Based on an estimation Indore population

will increase to 42 lacs by the year 2021.
Considering the estimated population, nearly
416 km of road network is proposed to be
developed in phases by 2021.
• Of this, 2-Lane roads will be 133.8 kms
• 3-Lane roads will be 13.1 kms
• 4-Lane roads will be 122.7 kms and
• 6-Lane roads will be 146.3 kms
• Eight Railways Over Bridges (ROBs) have
been proposed all over the city.

08
 


09
    ­    
2.00 16.00

1.80
14.00
1.60
12.00
1.40
10.00
1.20
Msf

Msf
1.00 8.00

0.80
6.00
0.60
4.00
0.40
2.00
0.20

0.00 0.00

Total Absorption (Msf) Unsold Inventory (Msf)

Over the last decade unsold inventory has drastically dropped by 89% due to strong absorption and fewer announcement of newer projects

10
 €  € 
2.50

2.00

1.50
Msf

1.00

0.50

0.00

New Launches (Msf)

Post Covid revival of Indore real estate market can be seen with steady increase in number of new project launches by various developers

11
   ‚  
Weighted Average Price Trend

4,500 12%

4,000 10%

3,500
8%

3,000
6%
INR/Sqft

2,500
4%
2,000

2%
1,500

0%
1,000

500 -2%

0 -4%

QoQ % Change - RHS Absorbed Units

Indore real estate market has majorly remained unaffected with strong absorptions even at higher prices

12
 ƒ„ † ‡„ˆ‰  
2 BHK TREND
3 BHK TREND 1800 5000

Weighted Avg. Price (Rs/ Sq. Ft.) & Avg. Unit Size (Sq.
180 14,000
1600 4500
160

Weighted Avg. Price (Rs/ Sq. Ft.)

12,000 4000
1400

No. of Units & Aborp�on %

No. of Units & Aborption %

& Avg. Unit Size (Sq. Ft.)

140
3500
10,000 1200
120
3000
8,000 1000
100 2500

Ft.)
800
80 6,000 2000

60 600
1500
4,000
40 400
1000
2,000
20 200 500

0 0 0 0
2014 2015 2016 2020 2021 2022 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Avg. Unit Size (In Sq. Ft.) Launched Units Absorp�on % Weighted Avg. Price (Rs/Sq.Ft.) Avg. Unit Size (In Sq. Ft.) Launched Units Absorp�on % Weighted Avg. Price (Rs/Sq.Ft.)

• Post COVID demand for larger apartments (3BHK & 4BHK) have reached to the • Larger availability of 2 BHK units has resulted in erratic price trends, putting
same demand levels of 2014-15. After a massive peak in 2016 sales prices are pressure on the absorption resulting in dipping sales of 2 BHK units.
stabilising and stronger supported by robust absorptions.
• Due to unlocking of reserve funds, lower HL rate of interest and reverse migration of
working professional in the city has propelled the demand for larger apartments.
• At present bigger 3BHK/ 4BHK units are preferred more due to change in
aspirational value and availability of funds.

13
 

    
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14
 


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