Posh areas are identified based on the locality’s growth, house price trends, rental values, the availability of various facilities, and the community of people who live there. Because this is a growing city, purchasing a house in Indore right now is an excellent investment opportunity, as general trends indicate that demand for real estate in this city will increase in the coming years.
1. Vijay Nagar
Situated strategically between MR-9, MR-10, AB Road, and the Eastern Ring Road, Vijay Nagar is one of the top localities in Indore that has a good mix of residential and commercial establishments. The locality is a suburb that grew extensively in the late 1990s. At present, most posh residential developers have already built or are in the process of creating residential layouts here.
The real estate prices are some of the highest in all of Indore in Vijay Nagar. High-end shopping complexes like the Malhar Mega Mall, C21, and Mangal City Mall are in this area. Vijay Nagar is close to another posh area in Indore, Mahalaxmi Nagar.
The prices of residential properties here range between INR 2,800/sq. ft. and INR 4,700/sq. ft. here.
2. Mahalaxmi Nagar
Mahalaxmi Nagar is another upscale neighbourhood in Indore. The TCS and Infosys Special Economic Zones are close to Mahalaxmi Nagar, attracting young people from all over the country. Because of this proximity, rental and property prices in this area have skyrocketed in recent years.
There are several shopping malls nearby Mahalaxmi Nagar, including C21, Indore Central, Mangal City Mall, and Malhar Mega Mall. All of the city’s top builders have projects in this area, and residential properties here cost between INR 3,400 and INR 5,100 per square foot.
3. Super Corridor
The Super Corridor is one of the first and most prestigious areas in Indore that is currently attracting a lot of attention. The Indore Development Authority (IDA) created and implemented this concept, which is a 12-kilometer-long corridor stretching from Vijay Nagar Square to the Indore Airport.
According to IDA, 18 commercial developments will be built along this corridor, including a mall, a sports complex, a convention centre, and a medical centre.
The prospect of development has made Super Corridor a preferred location for high-end residential developers, and people are flocking to purchase apartments and plots in the Super Corridor.
Property prices in this area range between INR 1,976 per sq. ft. and INR 8,642 per sq. ft.
4. Rau
Rau is a suburb near Indore’s industrial area, located just off the road connecting Pithampur to NH52. It has grown in popularity due to its proximity to other happening areas in Indore.
The Rau Railway Station is on the Akola-Ratlam line, and the Indore Junction Railway Station, the city’s main railway junction, is about 14 kilometres away. This area is well-known for its proximity to other important areas such as Hasanji Nagar, Shramik Colony, Gurukul Colony, and Ashok Vihar Colony.
The price of a residential unit in Rau ranges between INR 1,348 and INR 8,947 per square ft., depending on the builder and size of the unit.
5. Chandan Nagar
Chandan Nagar is an Indore suburb that has grown rapidly in recent years. This neighbourhood is divided into eight sectors, each with more than 300 houses. The Indore International Airport is right on the outskirts of Chandan Nagar, making it a popular choice for frequent travellers. Because of its proximity to the airport, real estate prices in this area have risen. Without a doubt, Chandan Nagar is transforming into one of Indore’s most affluent neighbourhoods.
Chandan Nagar project prices range from INR 3298/sq. ft. to INR 7,500/sq. ft.
6. Nipania
Nipania is a rapidly developing neighbourhood that is quickly becoming one of Indore’s most affluent areas. The area is surrounded by other high-end localities such as Vijay Nagar, Bapu Gandhi Nagar, Deep Palace Colony, and Mahalaxmi Nagar, making it a popular residential area. Nipania is also strategically located near the Sanwer Road Industrial Area and the Indore Special Economic Zone, making it a preferred location for thousands of employees working in these areas.
Nipania is close to shopping malls such as C21, Malhar Mega Mall, and Treasure Island Mall. The MR-10 road connects Indore to the rest of the city well.
Property prices range between INR 3,400 and INR 5,200 per square ft.
7. LIG Colony
LIG Colony is an Indore Development Authority initiative with 15 sectors ranging from Sector A to Sector M2. Although this was not initially a posh area of Indore, real estate prices have quickly risen. Currently, finding a flat or a house in this area would be prohibitively expensive. LIG Gurudwara, one of the city’s most sacred sites, is located here.
LIG Colony project prices range between INR 4,300/sq. ft. and INR 13,025/sq. ft.
Conclusion
Your search for the best Indore neighbourhoods ends right here. You can choose a location that has the type of residential accommodation where you want to live based on your budget and criteria. You can also search for the best properties in the city that are worthy of real estate investment.