Posting from Indore - have been apartment hunting for the last 6 months in the Rs 45-65 lakh range and the market has surprised me.
Background: I work in healthcare, budget is Rs 55 lakh, looking for 2BHK near AB Bypass Road or Vijay Nagar. Have looked at 12+ projects so far.
What I'm seeing: - Prices in Vijay Nagar and Palasia have shot up 15-20% in the last 2 years. A 2BHK that was Rs 42 lakh in 2023 is now Rs 52-55 lakh - Scheme 54 and 78 are more affordable but the infrastructure gap is visible - roads, water supply, drainage are inconsistent - The MR-10 corridor near Pithampur link road is being pitched by brokers as "next big thing" but I'm skeptical
The IT park factor: I keep hearing that Indore's IT/ITES clusters near Palasia and the newer zones toward Rau are driving demand. But when I check actual rental yields, they're still only 2.5-3% - not spectacular. The capital appreciation story feels more speculative than fundamental right now.
Questions for anyone who has tracked or bought in Indore: 1. Has the IT park narrative actually translated into real appreciation in specific pockets? 2. Is RERA enforcement strong in MP? I've heard mixed things about builder delivery timelines in Indore 3. Any developer in Indore with a consistently solid on-time delivery record?
The market feels hot but I want to make sure I'm not buying into a narrative-driven price spike.